Contents

1 Breaking the Stigma: 1 in 4 adults SNUB Why Seeking Financial Advice Matters More Than Ever

1.1 Money is a topic that is often considered taboo and is not discussed openly in many social circles. However, with the current financial climate, seeking financial advice is more important than ever. Many people are struggling to make ends meet and are looking for ways to improve their financial situation. Seeking advice from a financial professional can help alleviate financial stress and provide much-needed guidance. Despite this, many people are hesitant to seek financial advice due to the stigma surrounding it. In this blog post, we will break down the stigma and discuss why seeking financial advice is essential. We will explore the benefits of seeking professional financial advice, the different types of financial advisors available, and how to choose the right one for your needs. By the end of this post, you will have a better understanding of why seeking financial advice is a crucial step towards achieving your financial goals.

1.2 1. Introduction: The importance of seeking financial advice

1.2.1 In today’s complex and ever-changing financial landscape, seeking professional financial advice has become more crucial than ever before. Many individuals and families find themselves facing a multitude of financial challenges, such as managing debt, planning for retirement, saving for education, or navigating unexpected financial hardships. With so much at stake, it is essential to have a trusted advisor by your side to guide you through these complexities and help you make informed decisions.

1.2.2 Nearly one in four UK adults (23%) say they would never seek financial advice, even if it was free.

1.2.3 The findings appear in new research to coincide with the launch of Financial Planning Week 2024 which kicks off on Monday.

1.2.4 The research suggests widespread consumer avoidance of professional financial advice and significant numbers of consumers who say they do not want or cannot afford financial advice.

1.3 2. The stigma around seeking financial advice

1.3.1 The stigma around seeking financial advice has been prevalent for far too long. Many people mistakenly believe that seeking help with their finances is a sign of weakness or incompetence. This perception has led to a significant number of individuals and families struggling unnecessarily with their financial situations.

1.3.2 A study from Canada Life and consultants AKG – ‘The State of Flux’ – reveals:

1.3.3 • Nearly half (45%) of UK adults have never seen a financial adviser

1.3.4 • Nearly one in four (23%) say they could not be persuaded to get financial advice no matter the circumstances and even if the advice was free

1.3.5 • 21% of those who are not engaged with financial advice say they do not believe they have enough wealth to warrant seeing an adviser

1.3.6 • More than a tenth (11%) of those who do not receive advice do not trust financial advisers and 9% are ‘afraid of pushy sales techniques’

1.3.7 Despite the antipathy, 12% says they have regretted not seeing an adviser and 35% are worried they do not have enough money to fund retirement.

1.4 3. Common misconceptions about seeking financial advice

1.4.1 Seeking financial advice is often surrounded by misconceptions and stigmas that can prevent individuals from taking control of their financial well-being. It’s time to debunk these misconceptions and shed light on the true value of seeking professional guidance.

1.4.2 Some 31% says they have underestimated the impact of inflation and 31% have lost money because they did not seek advice.

1.4.3 Tom Evans, managing director, retirement, at Canada Life, said: “Financial Planning Week marks an opportunity to discuss financial literacy and money management – and to address the advice gap. We are facing a pivotal moment where a significant proportion of UK adults say they aren’t willing to engage with financial advice and yet many share regrets later down the line for not doing so sooner.

1.5 4. The benefits of seeking financial advice

1.5.1 Seeking financial advice has become increasingly important in today’s complex and ever-changing financial landscape. While some may view it as a sign of weakness or lack of knowledge, the truth is that seeking professional guidance can bring a range of benefits that can positively impact your financial well-being.

1.5.2 “As an industry, we have a role to play in communicating the benefits of financial advice, and the value it has for consumers’ current and future financial success. Now is the time to be bold and challenge the current status quo.”

1.5.3 Financial Planning Week, the CISI-backed, consumer-focused annual consumer campaign to spread awareness of good Financial Planning, will launch this year on Monday and run until 28 January.

1.6 5. How seeking financial advice can lead to better financial decisions

1.6.1 Seeking financial advice is often seen as a sign of weakness or incompetence when it comes to managing our own finances. However, in today’s complex and ever-changing financial landscape, seeking professional guidance can actually be a smart and empowering decision.

1.6.2 The event is traditionally held each year in October but was pushed back to mid-January, “as many consumers will be focusing on their finances after Christmas and considering end of year tax planning,” according to the CISI Financial Planning Forum Committee.

1.6.3 The CISI has asked the UK Financial Planning community to support the event by increasing awareness of the benefits of professionally-qualified Financial Planning.

1.6.4 The 2024 UK Financial Planning Week will focus on busting myths around Financial Planning and encouraging conversations about personal finances.

1.6.5 A major focus this year will be to convince consumers of the importance of finding a professional, qualified Financial Planner to help them take control of their finances.

1.6.6 The CISI’s find a Financial Planner Wayfinder website will be available at www.financialplanning.cisi.org.

1.6.7 The CISI wants the Financial Planning community to be involved by posting using the #FPWUK social media awareness campaign and sending in tips, tools or guides to This email address is being protected from spambots. You need JavaScript enabled to view it..

1.6.8 • Is your firm taking part in Financial Planning Week? Let us know what you are doing by emailing our newsdesk: This email address is being protected from spambots. You need JavaScript enabled to view it..

1.7 Resources and tools to help you find financial advice

1.7.1 Finding reliable and trustworthy financial advice can sometimes feel like searching for a needle in a haystack. With so many resources and tools available, it can be overwhelming to know where to start. However, in today’s uncertain economic climate, seeking financial advice matters more than ever.

1.8 Conclusion: Embracing the benefits of seeking financial advice

1.8.1 In conclusion, it is crucial to embrace the benefits of seeking financial advice in today’s world. Breaking the stigma around seeking financial guidance is a necessary step towards achieving financial success and security.

Breaking the Stigma: 1 in 4 adults SNUB Why Seeking Financial Advice Matters More Than Ever

Financial Advice Matters

Money is a topic that is often considered taboo and is not discussed openly in many social circles. However, with the current financial climate, seeking financial advice is more important than ever. Many people are struggling to make ends meet and are looking for ways to improve their financial situation. Seeking advice from a financial professional can help alleviate financial stress and provide much-needed guidance. Despite this, many people are hesitant to seek financial advice due to the stigma surrounding it. In this blog post, we will break down the stigma and discuss why seeking financial advice is essential. We will explore the benefits of seeking professional financial advice, the different types of financial advisors available, and how to choose the right one for your needs. By the end of this post, you will have a better understanding of why seeking financial advice is a crucial step towards achieving your financial goals.

1. Introduction: The importance of seeking financial advice

In today’s complex and ever-changing financial landscape, seeking professional financial advice has become more crucial than ever before. Many individuals and families find themselves facing a multitude of financial challenges, such as managing debt, planning for retirement, saving for education, or navigating unexpected financial hardships. With so much at stake, it is essential to have a trusted advisor by your side to guide you through these complexities and help you make informed decisions.

Nearly one in four UK adults (23%) say they would never seek financial advice, even if it was free.

The findings appear in new research to coincide with the launch of Financial Planning Week 2024 which kicks off on Monday.

The research suggests widespread consumer avoidance of professional financial advice and significant numbers of consumers who say they do not want or cannot afford financial advice.

2. The stigma around seeking financial advice

The stigma around seeking financial advice has been prevalent for far too long. Many people mistakenly believe that seeking help with their finances is a sign of weakness or incompetence. This perception has led to a significant number of individuals and families struggling unnecessarily with their financial situations.

A study from Canada Life and consultants AKG – ‘The State of Flux’ – reveals:

• Nearly half (45%) of UK adults have never seen a financial adviser

• Nearly one in four (23%) say they could not be persuaded to get financial advice no matter the circumstances and even if the advice was free

• 21% of those who are not engaged with financial advice say they do not believe they have enough wealth to warrant seeing an adviser

• More than a tenth (11%) of those who do not receive advice do not trust financial advisers and 9% are ‘afraid of pushy sales techniques’

Despite the antipathy, 12% says they have regretted not seeing an adviser and 35% are worried they do not have enough money to fund retirement.

3. Common misconceptions about seeking financial advice

Seeking financial advice is often surrounded by misconceptions and stigmas that can prevent individuals from taking control of their financial well-being. It’s time to debunk these misconceptions and shed light on the true value of seeking professional guidance.

One common misconception is that only wealthy individuals need financial advice. It’s important to understand that financial advice is not exclusive to the rich. Regardless of your income level, seeking financial guidance can help you set realistic goals, create a budget, manage debt, and plan for the future. Financial advisors are trained to work with individuals from all walks of life, providing tailored advice to suit each person’s unique circumstances.

Some 31% says they have underestimated the impact of inflation and 31% have lost money because they did not seek advice.

Tom Evans, managing director, retirement, at Canada Life, said: “Financial Planning Week marks an opportunity to discuss financial literacy and money management – and to address the advice gap. We are facing a pivotal moment where a significant proportion of UK adults say they aren’t willing to engage with financial advice and yet many share regrets later down the line for not doing so sooner.

4. The benefits of seeking financial advice

Seeking financial advice has become increasingly important in today’s complex and ever-changing financial landscape. While some may view it as a sign of weakness or lack of knowledge, the truth is that seeking professional guidance can bring a range of benefits that can positively impact your financial well-being.

“As an industry, we have a role to play in communicating the benefits of financial advice, and the value it has for consumers’ current and future financial success. Now is the time to be bold and challenge the current status quo.”

Financial Planning Week, the CISI-backed, consumer-focused annual consumer campaign to spread awareness of good Financial Planning, will launch this year on Monday and run until 28 January.

5. How seeking financial advice can lead to better financial decisions

Seeking financial advice is often seen as a sign of weakness or incompetence when it comes to managing our own finances. However, in today’s complex and ever-changing financial landscape, seeking professional guidance can actually be a smart and empowering decision.

One of the key benefits of seeking financial advice is the ability to make better financial decisions. Financial advisors are trained and knowledgeable experts who possess a deep understanding of the intricacies of the financial world. They can provide valuable insights, analysis, and recommendations tailored to your specific financial goals and circumstances.

The event is traditionally held each year in October but was pushed back to mid-January, “as many consumers will be focusing on their finances after Christmas and considering end of year tax planning,” according to the CISI Financial Planning Forum Committee.

The CISI has asked the UK Financial Planning community to support the event by increasing awareness of the benefits of professionally-qualified Financial Planning.

The 2024 UK Financial Planning Week will focus on busting myths around Financial Planning and encouraging conversations about personal finances.

A major focus this year will be to convince consumers of the importance of finding a professional, qualified Financial Planner to help them take control of their finances.

The CISI’s find a Financial Planner Wayfinder website will be available at www.financialplanning.cisi.org.

The CISI wants the Financial Planning community to be involved by posting using the #FPWUK social media awareness campaign and sending in tips, tools or guides to This email address is being protected from spambots. You need JavaScript enabled to view it..

• Is your firm taking part in Financial Planning Week? Let us know what you are doing by emailing our newsdesk: This email address is being protected from spambots. You need JavaScript enabled to view it..

Resources and tools to help you find financial advice

Finding reliable and trustworthy financial advice can sometimes feel like searching for a needle in a haystack. With so many resources and tools available, it can be overwhelming to know where to start. However, in today’s uncertain economic climate, seeking financial advice matters more than ever.

One of the most accessible resources for finding financial advice is your local bank or credit union. Many financial institutions offer free consultations with experts who can provide guidance on budgeting, saving, investing, and more. These professionals have a wealth of knowledge and can tailor their advice to your specific financial goals and circumstances.

Another valuable tool for finding financial advice is the internet. Countless websites and blogs are dedicated to providing financial education and guidance. However, it’s essential to exercise caution and ensure that you are relying on reputable sources. Look for websites backed by financial experts, institutions, or government agencies. These sources often provide comprehensive information on various financial topics, as well as tools such as calculators and budgeting templates.

Conclusion: Embracing the benefits of seeking financial advice

In conclusion, it is crucial to embrace the benefits of seeking financial advice in today’s world. Breaking the stigma around seeking financial guidance is a necessary step towards achieving financial success and security.

Financial advice provides individuals with the opportunity to gain a deeper understanding of their financial situation and make informed decisions. It offers a fresh perspective, expert knowledge, and personalized strategies tailored to individual goals and circumstances. This can be especially valuable during times of economic uncertainty or when faced with complex financial decisions.

Seeking financial advice can also help individuals overcome common financial challenges such as debt management, retirement planning, and investment strategies. Professional financial advisors have the expertise and experience to guide individuals towards making sound financial choices, ultimately leading to a more stable and prosperous future.

Financial Advice Breaking the Stigma 1 in 4 adults SNUB financial advice