As the nation looks ahead to next week’s Autumn Budget, new research from St. James’s Place’s Real Life Advice Report 2025 has revealed the value advice plays in helping people reach and stay on track of their financial goals.
Almost all (95%) people receiving ongoing advice saying it helps them reach and stay on track of their goals, and over eight in ten (85%) noting that they are currently on track of, or ahead of their savings and investment targets.
This is compared to 64% of those not receiving advice.
Those who receive ongoing financial advice are more than twice as likely as those without to have a structured financial plan in place with defined timelines and life objectives (68% vs 32%), and be working towards a specific goal (37% vs 16%).
Financial advice also fuels more directional purposeful choices -over eight in ten (85%) individuals receiving financial advice say their spending, saving and investing are aligned with their life aspirations, compared to just 60% of those not advised.
SJP’s research found that advised individuals demonstrate a more balanced and long-term approach to their priorities.
Nearly half (49%) of those who take ongoing advice aim to balance both short- and long-term goals, compared with under a third (31%) of those without advice.
Almost one in three (29%) advised clients focus mainly on long-term goals, vs 12% not advised, while only 10% concentrate mostly on short-term goals, vs 19% not advised.
The role of advice in promoting long term planning is apparent when looking at specific savings priorities.
With retirement adequacy continuing to be a concern across the UK, six in ten (58%) advised people are saving for retirement, versus just 35% of those without advice.
Meanwhile, of those who regularly save money, advised people are twice as likely to be saving for their own care costs in later life (28% vs 14%).
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Claire Trott, head of advice at St. James’s Place said: “Our research highlights the role of advice in helping people define, plan and stay focused on their financial goals.
“Clients who receive ongoing support are not only more likely to save with purpose and maintain a long-term focus, but they’re also more likely to see results and achieve measurable progress.
“As we approach the Autumn Budget next week, many clients may be tempted to shift to more of a short-term focus in response to policy announcements.
“This is where the role of advisers will be critical, providing perspective and reassurance to keep clients focused on their long-term objectives, rather than reacting to short-term noise.
“While the data clearly highlights the role of advice in driving success, the advice gap across the nation continues to grow. As an industry, we have a responsibility to make financial advice and guidance more accessible.
“The government’s targeted support proposals are a positive step towards bridging the gap between general guidance and full regulated advice, ensuring more people can access the help they need to plan with confidence.”
St. James’s Place’s Real Life Advice Report is being published in a series of chapters, examining how advice helps individuals and families across generations to reach their goals and overcome challenges.
