Women are twice as likely as men to be dissatisfied with the knowledge of their financial adviser according to a new survey highlighting sharp differences in what clients expect from professional advice.

Research based on interviews with 1,000 advised clients by Scottish Widows and Boring Money found that 30% of dissatisfied female clients felt their adviser was “not as knowledgeable as expected”, compared with 15% of dissatisfied men.

The findings suggest the issue is less about technical competence and more about how advice is delivered and framed.

Women were more likely to express frustration with a perceived lack of proactive thinking, saying advisers failed to consider the bigger picture or help them work towards broader life goals.

FALLING SHORT

Concerns were particularly pronounced among working professionals, many of whom actively sought professional support but felt it fell short of expectations.

Communication and trust were recurring themes. Women were more likely to cite unclear explanations, insufficient updates and a weak adviser-client relationship as reasons for dissatisfaction.

Many said they valued advisers who prompt them with questions or raise considerations they may not yet have identified themselves.

Men were more likely to focus on tangible outcomes.

Men, by contrast, were more likely to focus on tangible outcomes such as investment performance and value for money.

Around a third of dissatisfied male clients cited high fees as a concern, compared with 16% of women. Dissatisfaction among men was more commonly triggered when returns failed to meet expectations.

CLEAR COMMUNICATION MATTERS

Jenny Davidson, intermediary wealth director at Scottish Widows, said: “Advisers often focus on their clients’ investments and growing their wealth, but it’s important to remember that regular, clear communication is just as important, particularly for female clients.

“Our survey data showed some women felt disappointed with their advisers’ knowledge, but a deeper dive found this stems from women feeling their adviser is not thinking outside the box and offering suggestions they haven’t already thought of.

“Some clients don’t know the questions they need to be asking, so it’s important for advisers to be suggesting areas to consider even without being prompted. This can increase trust and make less confident clients feel that all bases have been covered.”