Advice Doubles Satisfaction in Client Retirement Income Compared to Non Advised
Published / Last Updated on 03/10/2026
Financial Advice Linked to Higher Retirement Income Satisfaction
Research from Quilter’s latest Retirement Lifestyle Report suggests that financial advice may play a significant role in helping retirees achieve greater confidence and satisfaction with their retirement income.
Advised Retirees Report Greater Satisfaction
According to the study, retired households that have received professional financial advice are almost twice as likely to be satisfied with their retirement income compared with those who have never sought advice.
Among advised retirees, 92% said they were satisfied with their retirement income, compared with just 47% of non-advised retirees. Across all retirees surveyed, 74% reported being satisfied with their retirement income.
The findings indicate that receiving financial advice may be one of the strongest predictors of retirement income satisfaction, even when compared with other factors examined in the research.
Greater Engagement With Retirement Planning
The research, based on a survey of 5,002 UK retirees, also highlights a clear difference in how advised and non-advised individuals respond to changes in government policy.
Only 11% of advised retirees said they would take no action in response to future retirement policy changes. In contrast, 79% of those who had never received financial advice expected to make no changes.
Advised retirees also appear to be taking a more proactive approach to inheritance tax planning. Nearly two-thirds (63%) said the current political and policy environment was influencing their inheritance tax strategy, compared with just 8% of retirees who had never sought financial advice.
Pension Tax Changes Driving Action
The findings come at a time when retirees are facing significant changes to pension and inheritance tax legislation. From April 2027, unused pension funds and certain pension death benefits are expected to be included within an individual's estate for inheritance tax purposes.
As a result, many retirees are already reviewing their financial plans.
Among the wider retiree population:
- 69% have changed their financial plans in response to government policies or proposals during the past year.
- 29% intend to spend more of their pension savings during their lifetime.
- 26% plan to gift more pension wealth to family members or beneficiaries.
- 24% expect to access their pension savings earlier than originally planned.
These figures demonstrate how policy changes can have a direct impact on retirement decision-making and long-term financial planning.
Advice Builds Confidence
While personal wealth will always influence retirement outcomes, the research suggests that financial advice itself plays an important role in helping individuals feel more confident and secure about their financial future.
Retirement planning has become increasingly complex, with evolving pension legislation, tax changes and estate planning considerations requiring regular review. The study indicates that advised retirees are generally more engaged with these developments and more willing to adapt their plans when circumstances change.
Roberts Clark's Perspective
We have seen similar trends among our own clients. Rather than hoping legislative changes will not affect them, many clients are choosing to review their existing arrangements, explore their options and take action where appropriate. Take a look at our Retirement Review Services:
Review Pensions and Investments Pre Retirement Review Later Life & Inheritance Tax Review
Regular financial reviews can help retirees understand the impact of changing pension and tax rules, identify opportunities, and ensure their retirement and estate planning strategies remain aligned with their long-term objectives.
Watch Inheritance Tax Planning for Pension Funds: IHT Review Service
As retirement planning continues to evolve, professional financial advice can provide valuable clarity, helping individuals make informed decisions with greater confidence and peace of mind.