Aviva’s Advice Report highlights a shift in how people want to receive guidance and from whom, revealing evolving consumer preferences over four years.
In the new Appetite for Advice study, Aviva finds a clear trend: more people now express a gender preference when first engaging with an adviser, compared with four years ago. While men are more likely than women to indicate a preference, their choice is evenly split between male and female advisers. By contrast, women who express a preference overwhelmingly ask for a female adviser.
The survey compared advised and non-advised consumers to understand variations and identify ways to boost engagement among those not currently receiving advice. Non-advised respondents were asked whether gender of an adviser would matter. Overall, most did not have a preference, but 25% said they would, up from 16% in 2021.
The uptick is slightly stronger among men (26% vs 23% of women). However, when women do express a preference, 83% would prefer a female adviser. This pronounced inclination presents both an opportunity and a challenge for advisers: how to broaden engagement among women and respond to clear input about women’s preferred sources of guidance.
There are signs the industry is already adapting. Among advised consumers, only 23% of women reported explicitly requesting a female adviser, while 51% said their adviser is female. Among men, 13% have a female adviser. Women who are advised also tend to view their relationship as more tailored to their needs, with 73% feeling their adviser caters to them specifically, versus 67% of men. Women are also less likely to feel they are treated like everyone else, with 23% agreeing to that sentiment, compared with 31% of men.
These findings prompt a call to be more creative in how advice is delivered and how to make it accessible to a broader audience. The data also show a small rise in willingness to forgo face-to-face meetings in favor of other formats, increasing from 63% in 2021 to 67% today. This preference is more pronounced among men (75%) than women (65%).
A crucial takeaway relates to age-related delivery preferences. Digital-only advisory relationships are increasingly favored by different age groups, notably the 35–44 bracket, where 84% would be comfortable with a digital-only arrangement, up from 73% in 2021.
Lorna Whalley, Director of Aviva Adviser Platform, notes that while overall advisory uptake has dipped, consumer perception has improved and people are more assertive about how they want advice delivered. This represents an opportunity to expand access to guidance and to tailor delivery to diverse needs. Crucially, younger consumers are steering the digital agenda, offering guidance on how best to serve evolving client requirements.
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References and methodology are provided in the report, including Censuswide’s nationwide sample and the definitions used for “advised clients.”
