Financial advisers are facing an uphill marketing battle, according to a study from Unbiased, which found that 44 per cent of advisers named limited budgets as their biggest barrier to growth.

The financial advice platform suggested these limited budgets are hindering advisers to invest in digital channels, test new strategies, and scale their outreach effectively.

Unbiased also reported that this squeeze is having a “ripple effect”, after 28 per cent of advisers said they struggle to generate enough leads, while 16 per cent cited poor return on investment (ROI) as a major barrier.

The result is a cycle of “low visibility, missed opportunities, and stagnant growth”, Unbiased stated.

Despite the impact of AI effect on the marketing landscape, and its direct impact on how financial advice firms attract new clients, just 5 per cent of advisers in the study named keeping up with the impact of AI on marketing as their biggest challenge.

“Financial advice firms face growing pressure to scale while keeping costs down,” said Unbiased chief revenue officer, Matt Cockayne. “Traditional methods like referrals can help, but they often lack the consistency and reach needed today.

“Many firms are stuck in a cycle of tight budgets, low lead volume, and missed opportunities. With AI reshaping how people search for financial advice, those who don’t adapt risk falling behind.”

Unbiased’s research was based on over 100 UK financial advisers during July.

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