Last month, we hit a major milestone at Timeline – surpassing £10 billion in assets under management. It's a moment we're incredibly proud of, but as we celebrated this achievement, we couldn't shake the feeling that it also highlighted something much bigger: a massive, untapped opportunity in financial advice.
So we decided to dig deeper. We commissioned a nationwide study of 5,000 UK adults across three key life stages to understand when and why Britons seek financial advice – and crucially, why so many still don't. The results were both fascinating and concerning.
Here's what really struck us: 49% of affluent households – those with a net worth of £500k or more – are managing their money without any professional adviser. Nearly half of Britain's wealthiest families are going it alone.
Even more telling is what we discovered about financial planning itself. While 38% of respondents told us they're "working on a plan," a staggering 12% admitted they have no financial plan at all. That's one in eight people with significant wealth operating without any roadmap for their financial future.
The research revealed clear patterns in what finally pushes people to seek professional advice. Life events are the primary trigger:
What's striking about these triggers is their timing – they're all reactive rather than proactive. People aren't seeking advice to build wealth; they're seeking it when they're about to spend, transfer, or manage wealth they've already accumulated.
Perhaps the most powerful finding was around regret. 54% of respondents wish they'd sought financial advice earlier. When we asked retirees what their number one message to younger people would be, the overwhelming response was: "Start investing sooner."
This tells us something profound: the value of financial advice isn't just theoretical. Real people, looking back on their financial journeys, can see exactly where professional guidance would have made a difference.
Our research also uncovered significant financial anxiety across all age groups. Rising living costs are the top concern for 57% of all respondents, but this jumps to 67% among 20-39 year olds. This younger demographic is facing a perfect storm of high housing costs, student debt, and inflation – yet they're often the least likely to seek professional financial guidance.
As I reflected on these findings, one thing became crystal clear: too many people are making life-changing money decisions alone. The advice gap isn't just a statistic – it's millions of individuals and families missing out on guidance that could fundamentally improve their financial outcomes.
At Timeline, we see our role as removing the barriers that prevent advisers from being there exactly when consumers need them most. That's why we've focused so heavily on building technology that eliminates administrative friction.
Our recent innovations – including a fully integrated investment platform, digital Letters of Authority, streamlined attitude to risk questionnaires, modular reporting, and our digital onboarding suite – are already cutting adviser case-handling time significantly. But this research shows us we need to go further.
Over the coming weeks, we'll be releasing a series of detailed analyses from this research, identifying specific opportunities where advisers can position themselves to reach people who need their services – at the right time, in the right way.
The £10 billion milestone was important for us, but the real work lies ahead. Every data point in this research represents real people who could benefit from professional financial guidance. Our mission is to ensure that technology never stands in the way of that guidance reaching them.
This research was conducted between March and April 2025 via GDPR-compliant online panels, surveying 2,000 affluent pre-retirees (aged 40-60 with £500k+ net worth), 1,000 affluent retirees (aged 60+ with £500k+ net worth), and 2,000 full-time employees aged 20-39.