Young people value financial advice but struggle to gain access

One in two young people not sure where to find advisers

John Brazier
clock • 4 min read

Younger people recognise the value of securing financial advice but around half don’t know how to find an adviser, research from Scottish Widows, shared exclusively with COVER, shows.

A survey conduced among 2,000 UK adults by Yonder on behalf of Scottish Widows, found that three in four (72%) of respondents believe that getting financial advice is important, rising to three in four (81%) among those aged 18-34 and young families. Of those that have secured financial advice, around half of respondents said they feel "confident" (46%) and "more comfortable" (41%) in their financial position. However, more than one in three (35%) of people are "not quite sure" where they should start looking for financial advice. Of more concern, this rises to 51% of young adults and...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

Reassured customers receive £67m in pay outs

Reassured customers receive £67m in pay outs

Marks a 34% year-on-year increase

Jaskeet Briah
clock 04 June 2025 • 2 min read
Rising number of clients concerned about intergenerational planning

Rising number of clients concerned about intergenerational planning

HSBC Life research

Jaskeet Briah
clock 03 June 2025 • 3 min read
Partner Insight: Five simple steps to the most comprehensive protection advice

Partner Insight: Five simple steps to the most comprehensive protection advice

In light of Consumer Duty and the changing socio-economic landscape around us, offering the most comprehensive protection advice has never been more important.

Justin Garbutt, Director of IFA Distribution at Vitality
clock 03 June 2025 • 5 min read