Nearly half of IFAs expect targeted support to increase demand for advice

Almost half (46 per cent) of independent financial advisers (IFA) expect access to targeted support to push more people into seeking financial advice, according to research from Opinium.

The Financial Conduct Authority's (FCA) new framework, which is set to be introduced next month (April), aims to enable firms to offer tailored recommendations to groups of consumers with similar characteristics to close the gap between guidance and full advice.

Just 19 per cent of IFAs believed targeted support would result in people being less likely to seek independent financial advice.

Opinium stated this suggested confidence among advisers that targeted support would not supplant the need for paid, personalised advice.

More than half (57 per cent) of IFAs felt that targeted support would help clients improve their financial planning.

A similar proportion (52 per cent) said that new clients accessing their services in 2026 were doing so to plan for new financial goals, such as planning for retirement or paying off a mortgage.

Almost two in five (38 per cent) IFAs also said they were seeing new clients accessing advice due to life events, such as having children or moving house.

Amid increasing uncertainty in the labour market, 29 per cent of IFAs cited changes in income or employment as reasons for new clients seeking advice, while 12 per cent reported new clients accessing advice to plan for upcoming major expenses.

“Ahead of targeted support being introduced next month, IFAs believe the new framework could play an important role, not only giving people more support to plan their financial futures but also helping them to understand when they need to seek independent advice,” said Opinium research manager, Matthew Howlett.

“Our research shows that IFAs are seeing an influx of new clients this year reaching out to plan for new goals and life’s big moments, whether that’s planning for retirement, buying a home or having kids, showing that consumers realise the value of professional advice at major decision points.”

This article originally appeared in our sister publication Pensions Age.

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