A recent study by Aviva has shown that despite a decrease in the overall take-up of financial advice, from 13% to 11% over the past four years, engagement with advice has increased across all consumers. The “Appetite for Advice” index, which measures perceptions of advice and its value, has risen from 24 in 2021 to 30 in 2025. This increase is more pronounced among women, with their index score rising from 23 to 29, compared to men, whose score rose from 26 to 32.
The study, which surveyed 2,000 consumers, found that 81% of men and 71% of women believe they are better off financially due to taking advice, an increase of 9% and 6% respectively. Additionally, 81% of men and 69% of women reported avoiding mistakes they would have made without financial advice, an increase of 10% and 7% respectively.
The research also highlighted the wider benefits of financial advice, with 82% of advised men and 78% of advised women agreeing that it contributes to their overall wellbeing, up from 72% and 67% in 2021. Lorna Whalley, Director of Aviva Retail Platform, noted that while fewer people are taking financial advice, the benefits of it are being felt more than before, and it is essential to convey this message to a wider audience.
The study also found that although men are more likely to take advice, the increase in engagement among women has been more significant. If this trend continues, engagement levels between men and women will be equal by 2042. However, Whalley emphasized the need to challenge this timeline and find effective ways to demonstrate the benefits of advice to women in a meaningful and resonant way.
Overall, the study suggests that financial advice is becoming more valued and recognized for its benefits, and efforts should be made to increase engagement and accessibility to a wider audience, particularly among women. The “Appetite for Advice” index provides a benchmark for measuring changes in engagement and identifying factors that influence these changes, allowing for targeted actions to improve the take-up of financial advice.