Assessing the UK’s Financial Advisory Gap

Obtaining the right financial advice is a necessity when looking to optimise an investment portfolio, access mortgages or to ensure your pensions are working as they should be.

The reality however for many millions across the UK is that expert financial advice is simply not as accessible as it could be due to the prohibitively high fees associated with engaging a financial adviser.

Defining the Financial Advisory Gap

In short, the Financial Advisory Gap is the disconnect between the widespread need for financial expertise and the high costs that price out many from accessing such information.

The well-established, yet traditional Independent Financial Adviser (IFA) sector is critically important to the financial wellbeing of the UK as it imparts essential support and advice that helps to protect both individual & family finances.

According to the Financial Conduct Authority, some  6 million people use IFA services each year, however, the industry remains technologically poor, lacks automation and with increasing operational costs & low profit-margins – higher service fees are often passed on to the customer with the resultant effect that many are prohibited from accessing compliant advice.

Whilst levels of wealth and asset portfolios may differ across the nations, there is an estimated 13 million consumers across the United Kingdom that require the use of an IFA. With the country only now emerging from the national lockdown and finances strained, the problem of accessing compliant advice to offset the global slowdown has become a growing concern amongst many in government and industry.

What is needed is a platform that can help to narrow the advisory gap and offer affordable financial advisory.

Fintuity – The Digital IFA That Seeks to Close the Financial Advisory Gap

Fintuity was established with closing the Financial Advisory Gap in mind . Founded in 2017, Fintuity has fast become the only digital Independent Financial Adviser (IFA) in the United Kingdom that offers all the services of a traditional IFA but via our secure online platform.

Just like a traditional IFA, Fintuity offers a wide range of financial advisory services including pensions, protections, investments and mortgage support – the only difference is that as an exclusively digital service we can offer significant time and cost savings direct to you and on demand.