Men and women are equally likely to turn to a financial adviser for protection advice, according to data from Canada Life.
The insurer’s survey of 3,000 people found the two sexes are closely aligned when those with a financial adviser were asked what they wanted advice on.
While the most popular subject was retirement or pension planning – 50% for men and 42% for women, the same percentage (25%) of men and women wanted information on life insurance, critical illness or income protection products.
However, the research also found a slightly higher proportion of men (30%) would turn to financial advisers for advice in the first place, compared to 27% of women.
For women, family (42%) and money advice websites (35%) were more popular sources for financial information than advisers.
But for men only money advice websites (35%) were a more popular source of financial advice than advisers.
Lara Bealing, marketing director at Canada Life, said: “The financial advice profession should take the positives from the survey as they feature highly as a source of advice by both women and men.
“However, there are also key questions to be asked about how the advice and wider financial services industry can work together to make financial advice more accessible and inclusive.
“Personal finance can be incredibly complicated, and a financial adviser will always be best placed to help navigate life’s up and downs and help ensure we all reach our goals.”
