Bridging the advice gap: why only 8% of UK adults seek financial guidance

In today's complex financial landscape, managing personal finances can be overwhelming. A recent statistic reveals a startling truth: only 8% of adults in the UK are taking advantage of financial advice.

At Carbon, we believe this 'advice gap' presents significant risks, not just for individuals but for society as a whole. Without proper financial advice, individuals may struggle with budgeting, investing, and retirement planning. They may fall victim to poor financial decisions or miss opportunities to grow their wealth and secure their futures.

The importance of financial advice

So, why should individuals consider professional financial advice? The benefits are numerous, but specifically to Carbon, we focus on the following:

Make sound decisions with your money

A good financial planner understands your unique goals and circumstances. We offer tailored strategies that align with your financial aspirations, whether you are saving for a trip/purchase or planning for retirement.

Plan your finances in a tax-efficient way

Financial planners have a depth of knowledge of the financial world, including the different strategies and products available to individuals to minimise tax. We stay informed about changes in legislation, tax rules, and available products, ensuring that our clients are well-informed and continue to be tax efficient with their savings.

Protect you from financial shocks

With a solid financial plan, individuals are more likely to achieve long-term security and peace of mind. Our insights and stress testing of the plan can help you prepare for unexpected expenses and show you how you can navigate potential shocks in your financial life.

Ensure your money passes down to the right people and support causes that are important to you

Many people wish to provide financial help to their loved ones or charity/community projects close to their hearts. Carbon helps to show the different options available both during your lifetime and at death, giving you the flexibility to pass money to the right people when you are ready. We can also show you how any gifts during your lifetime will impact your overall plan.

Closing the gap

At Carbon, we tend to deal with people with complex financial situations where our advice can provide significant value. We are always happy to have a chat with any potential client, the initial discussion is at our cost. If it is not something we can help with, we are happy to provide guidance and a recommendation to a suitable firm/individual within our extensive network that can help further. It’s essential for everyone to feel empowered to seek financial advice, regardless of their situation.

Take the next step

If you are part of the 92% who have yet to seek financial advice, we encourage you to take that first step. Whether you prefer a chat over coffee or a virtual consultation, Carbon Financial is here to help you make informed decisions that will benefit you and your family.

If you or someone you know may be in vulnerable circumstances and would benefit from help with their life planning and financial affairs, please get in touch.

Contact us at 0131 220 0000 or email us at enquiries@carbonfinancial.co.uk

The value of investments and the income derived from them can fall as well as rise. You may not get back what you invest.

This communication is for general information only and is not intended to be individual advice. It represents our understanding of law and HM Revenue & Customs practice. You are recommended to seek competent professional advice before taking any action. Tax and Estate Planning Services are not regulated by the Financial Conduct Authority. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.