The rarely discussed barriers to closing the advice gap

'The real issue isn't just access, it's attitudes, representation, and engagement'

clock • 7 min read

The problem isn't just affordability or access, it's who we reach, how we engage, and the assumptions we make about financial advice, says Harry Webster

Can technology solve demographic gaps in advice? Despite the rise of digital tools, financial advice remains a service that predominantly serves married, middle-aged, men. A recent article in Professional Adviser highlights gaps in the data of those taking up advice and purports technology as the solution to the imbalances. But I'm not convinced it's the panacea to the particular observed issues.   Here are some of the key takeaways: Men are more likely to get advice than women, 51% to 43% This is reflected in women not knowing where to find an adviser 25% vs 20% of men, and...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

The rarely discussed barriers to closing the advice gap

The rarely discussed barriers to closing the advice gap

'The real issue isn't just access, it's attitudes, representation, and engagement'

Harry Webster
clock 04 April 2025 • 7 min read
The Apprentice stars call for more financial advice as online businesses surge

The Apprentice stars call for more financial advice as online businesses surge

‘Crucial that young entrepreneurs receive the right guidance to manage their finances’

Sahar Nazir
clock 03 April 2025 • 2 min read
Trump pushes ahead with global 'reciprocal' tariffs, sending markets into a tailspin

Trump pushes ahead with global 'reciprocal' tariffs, sending markets into a tailspin

20% on EU, 10% on UK

Sorin Dojan
clock 03 April 2025 • 2 min read