There is a growing appetite for ‘one-off’ advice, with many cost-conscious consumers now preferring to receive advice around specific life events or financial decisions, new research from PIMFA has found.
Between 2023 and 2025, PIMFA’s data shows the number of respondents accessing ‘one-off’ advice has increased from 9% to 19%. Although this growth has predominantly been fuelled by individuals with investable assets exceeding £500,000, demand for one-off advice was evident across all wealth brackets, suggesting a broader appetite for ad hoc support.
This was supported by separate research from Boring Money which found that 28% of people preferred paying a fixed fee for transactional advice rather than ongoing holistic services.
The findings are part of PIMFA’s Leading Lights Forum Research Report 2025-26, which showcases insights from emerging leaders across the sector. The Forum brings together professionals across PIMFA’s membership to collaborate and deliver thought leadership on issues shaping the future of the wealth industry.
The report said: “While the uptake of one-off advice appears to be increasing, this trend does not necessarily erode the revenues received from ongoing services. We believe these are two distinct offerings with revenue growth potential.
“Tapping into both offerings will help firms gain access to new revenue opportunities, whilst also futureproofing their businesses in case this leads to a longer-term behavioural shift.”
However, accessing one-off advice can be difficult for lower-net-worth clients, with many firms still viewing this segment as commercially unviable, the report found.
The report continued: “The advice gap is not just about affordability; it’s about accessibility and perceived relevance. Many consumers assume advice is reserved for the wealthy, which is reinforced by firms focusing mainly on high-net-worth clients.
“This behaviour creates a cycle where those who could benefit most from early support/one-off engagements remain excluded as either fees are too high or they can’t find an adviser to assist them. Breaking this cycle requires innovative pricing models, regulatory flexibility and proactive engagement strategies.”
PIMFA’s survey found that 77% of respondents with less than £30,000 in investable assets who received advice felt it benefitted them. As such, the report said advisers need to look beyond current wealth and focus on clients with potential, creating accessible pathways for those with lower incomes and asset values.
Employer-sponsored financial advice
PIMFA said workplaces offer a “trusted, convenient” entry point for financial advice. It found that a regulatory environment that enables modular advice, combined with employer-led delivery and default enrolment models, could help normalise timely financial interventions in a similar way to other workplace benefits.
Among respondents who have never taken advice, 58% said they would use free, confidential advice provided by an independent third party if offered by their employer, while a further 25% were undecided.
The report suggested that financial advice could be offered as a non-taxable benefit. Employers could manage costs by providing a baseline level of free advice, with options for employees to take additional services as needed.
The report said: “While introducing financial advice as a benefit would involve additional costs for employers, it also offers tangible advantages. It provides another way to differentiate benefits packages and attract talent, while improving financial outcomes for employees and their families and can support retention and productivity.
“From a broader social perspective, employers have an opportunity to help expand access to advice for underserved groups, contributing to improved financial wellbeing across society.”
According to the findings of the report, a multi-pronged approach is essential to embedding financial advice as a workplace standard.
This includes government lobbying, advocating for default ‘opt out’ financial advice; input from regulators to build on simplified advice and the Advice Guidance Boundary Review to enable flexible, event-based, cost-effective advice packages; developing standardised technology tools and centralised data repositories for individuals and advisers; and utilising existing employer-sponsored pension and benefits frameworks to channel financial advice seamlessly through employers.
The report stated: “Behavioural science shows that default solutions stick due to human inertia even when there is full freedom to change, opt-out or cancel. A similar approach could help address the uptake of financial advice. A default or auto-enrolled offer of employer-sponsored investment guidance, delivered by an independent third party and with full opt-out rights, could significantly increase take-up.
“For many employees, the biggest barrier is not unwillingness but the lack of a clear and trusted route into the advice system. By embedding advice as a default benefit, employers could ensure that more individuals receive support when they need it.”
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