Nucleus launches Voice of the Adviser Survey: A profession caught between two worlds

Nucleus has launched a new survey for 2025, exploring the issues that matter most to its users. Tapping into its network of advisory firms - with respondents from across the profession, the Nucleus Voice of the Adviser Survey will be an annual temperature check on some of the biggest challenges facing advisers and the changes shaping the community.  

This year’s survey explored four key areas:

  •    How advisory firms are attracting the clients of tomorrow:
    • 86% believe the profession needs to do more to appeal to younger clients yet, fewer than half say they’re currently working with this demographic.  
    • Nearly two-thirds of advisers say referrals are a key source of new business with only 1 in 10 using social media to connect with potential clients.     
  •    The rise of the unregulated ‘finfluencer’:
    • 59% said they’ve seen clients negatively affected after following poor or unregulated financial tips online.
    • And only 28% of advisers agreed ‘finfluencers’ have a positive role to play in providing access to financial advice and guidance.    
  •    The regulatory landscape and how its impacting advisers:
    • 75% said that staying on top of changing requirements is a challenge.
    • Firms said changes in Government policy were currently the biggest challenge to their firms, with changes to regulation scoring third. 
  •    Views on consolidation and firms' ability to attract the next generation of advisers:
    • Mergers and acquisitions remain a talking point in the profession, with 71% believing it’s getting harder for smaller, independent firms to survive  
    • 83% of firms say they’re doing a good job attracting and developing talent in house.  

The research was carried out over a three-week period from 29 May-19 June 2025 and reveals a profession at a pivotal moment – arguably caught between two worlds.

On one hand, traditional values remain strong. Word-of-mouth referrals are still the bedrock of growth, relationships are long-standing, independence is fiercely protected. On the other, advisers report they face a new wave of pressures such as digital disruption, changing client expectations, rising regulatory demands, and a growing sense that younger generations are slipping further from reach.

The profession is navigating the tension between proven ways of working and the need to adapt to connect with the younger generation, respond to the rise of external influences shaping financial decisions, and to operate efficiently while complying with Consumer Duty.

And whilst the report captures how firms are managing that tension, there’s optimism too. Many firms are investing in talent, succession planning, and smarter ways of working. They’re not just looking to survive the changes ahead - but to shape them, especially when considering how to attract a younger demographic to financial advice.  

Paul Bagley, Distribution Director at Nucleus, said: “The voice of advisers is clear: change is not coming - it's already here. The question is no longer whether the profession will transform, but how it will transform in a way that serves both advisers and the clients who desperately need their help and support.

“Our survey results highlight that while regulatory demands and digital disruption continue to reshape the landscape, advisers remain committed to delivering trusted, personal advice in a changing world.

“By investing in talent, embracing smarter ways of working, and staying focused on what clients really value, many firms are not only navigating today’s challenges – they’re helping to define the future of financial advice.

Andrew Tully, Technical Services Director at Nucleus, added: “The FCA’s proposed targeted support regime is a positive step towards closing the planning and advice gap by making regulated guidance more accessible—especially for those dealing with pensions and investment decisions.  

“It offers advisers a valuable opportunity to engage with underserved groups, demonstrate to people that advice may be an option to consider at the appropriate time, and promote greater financial inclusion.  It’s crucial the Government and regulators continue to do more to highlight the benefits of taking regulated financial advice.  

“We’ll continue to champion financial advisers and planners because they’re key to improving confidence of those approaching and in retirement and to lobby government and regulators for a clearer more supportive environment that enables the profession to thrive.” 

 

Download the Nucleus Voice of the Adviser Survey now.

Enquiries:

Head of Public Relations
Linda Harper (Monday - Wednesday) T: 07876 145309
Victoria Webb (Wednesday- Friday)  T: 07969 113758                    
E: newsroom@nucleusfinancial.com    


About Nucleus:
Nucleus Financial Platforms is one of the UK's leading independent groups for investment platforms, products and wealthtech software.
It’s the only large-scale group with a comprehensive range of bespoke platform solutions to meet the needs of advisory and wealth management firms of all sizes.
It operates the Nucleus Wrap and James Hay Online retail investment platforms, and through Curtis Banks and Talbot and Muir is one of the UK’s largest administrators of SIPP and SSAS products.
With the wealthtech experience of Third Financial and Dunstan Thomas, Nucleus now powers some of the industry’s leading product providers, advisory firms and consolidators, discretionary investment managers and institutions, with enterprise-wide, platform software solutions.
Working exclusively in partnership with over 5,300 financial advisory firms, the group now administers over £99 billion of investments on behalf of over 230,000 UK customers, seeking to deliver great service and financial outcomes for them, and ultimately help make their retirement more rewarding.