LONDON, UK - New consumer research by fintech provider Timeline has revealed that almost half of UK households with a net worth of over £500,000 do not use a financial advisor to manage their money.
Timeline, the fintech provider which supports Financial Advisers in the UK and that has just surpassed £10 billion in assets under management (AUM), polled 5,000 UK adults across three life stages.
The study found that 49% of affluent households manage money without a professional adviser, 38% say they’re “working on a plan,” while 12% have no plan at all.The research also discovered that many people only consult an advisor for key life events. Retirement drawdown (43%), inheritance planning (42%) and sudden windfalls (38%) drive first adviser contact.Despite this, 54% wish they’d sought advice earlier; retirees’ key message to younger people is “start investing sooner.”The study found that inflation anxiety was the top concern among those polled. Rising living costs concern 57% overall and 67% of 20- to 39-year-olds.
“£10 billion AUM is a milestone for us, but the data shows the real work lies ahead,” said Abraham Okusanya, Founder & CEO of Timeline.
“Too many people make life-changing money decisions alone. Our job is to give financial advisers technology that wipes out admin friction so they’re there exactly when consumers need guidance.
“We’ll be releasing more detailed findings of this extensive research which identify areas where advisers can put themselves in front of those in need of their services in the right way at the right time.”
Read more about the research here.
About Timeline
Timeline is the integrated ecosystem built for modern financial advisers. Their mission is to empower financial advisers to help millions of people to plan, invest, and retire with confidence.
What sets Timeline apart is the seamless integration of critical advice tools - including Customisable Factfind, Risk Profiler, Cashflow, Investment Analytics, Modular Reporting, Digital Onboarding Suite (KYC/AML, Digital Letters-of-Authority) and Client Portal - with low-cost, evidence-based model portfolios and embedded Trading, Custody & Tax Wrappers.
This unified advice-tech significantly elevates the client experience, streamlines adviser workflow, and reduces costs by providing a truly integrated technology stack for financial planning, portfolio management, custody, and administration of client assets.
Recent Timeline innovations have included a new investment platform fully integrated with its cutting-edge planning and portfolios software, digital Letters of Authority, attitude to risk questionnaires, modular reporting and a digital onboarding suite - which has already cut adviser case-handling time by a significant margin.
Media Contact
Company Name: Timeline
Contact Person: Tom Newbould
Email: Send Email
Country: United Kingdom
Website: https://www.timeline.co/
