Professional financial advice is playing an increasingly important role in helping households meet long-term savings and investment goals, according to new research published ahead of next week’s Autumn Budget.
Wealth manager St. James’s Place said 95% of people receiving ongoing financial advice believe it helps them reach and stay on track of their objectives.
And more than eight in 10 advised savers (85%) say they are currently on track or ahead of their financial targets – a sharp contrast to the 64% of unadvised individuals who say the same.
GOAL-DRIVEN BEHAVIOUR
The findings, drawn from the firm’s latest Real Life Advice Report 2025, suggest that advice is strongly correlated with more structured, goal-driven behaviour.
Two-thirds (68%) of advised clients have a formal financial plan with timelines and defined life objectives, more than double the proportion among those without advice. Similarly, 37% of advised people are working towards a specific financial goal, compared with just 16% of those who are not.
The gap widens when looking at long-term financial discipline. Eighty-five per cent of advised individuals say their spending, saving and investing decisions align with their long-term aspirations.
Among the unadvised, that figure falls to 60%. Nearly half (49%) of those receiving advice say they balance short- and long-term goals, while almost a third (29%) say they focus primarily on long-term planning. Just 12% of those without advice say the same.
Retirement planning remains the clearest dividing line.
With concerns over pension adequacy intensifying, 58% of advised people say they are actively saving for retirement, compared with only 35% of those without regular support.
Among regular savers, advised clients are also twice as likely to set aside money for potential care costs in later life.
ONGOING SUPPORT
Claire Trott, head of advice at St. James’s Place, said the findings show the practical impact of ongoing support.
“Clients who receive ongoing advice are not only more likely to save with purpose and maintain a long-term focus, but they’re also more likely to see results and achieve measurable progress,” she said.
Trott added that the Chancellor’s Budget next week may prompt some households to adopt a shorter-term outlook, making professional guidance even more important.
ADVICE GAP
She said SJP supports the Government’s proposed “Targeted Support” framework, designed to narrow the UK’s widening advice gap by improving public access to financial guidance without requiring full regulated advice.
The report is being released in a series of chapters examining how advice shapes financial outcomes across generations.
Mortgage Soup reported yesterday how consumers are placing growing value on financial advice as speculation ahead of the Budget fuels demand for reassurance and long-term planning.
