UK Advice Gap grows to 14.6 million as wave of new investors enters the market

Speaking at today’s Investment Association conference, Holly Mackay, CEO of Boring Money, confirmed that the UK’s Advice Gap has widened to 14.6 million adults in 2026, representing an estimated £1,045bn in assets, according to new research from Boring Money.

The figure is up from 12 million in 2025. The main driver of the increase is a growing number of first-time and less experienced investors who have taken the first step into investing but would welcome additional support and guidance. The proportion of UK adults investing, defined as holding a Stocks & Shares ISA, personal pension or GIA, has risen from 31% in 2025 to 33% in 2026. 

Low confidence remains a significant barrier. Boring Money’s research found that 9.9 million investors who are non-advised today have low investment confidence, up from 8 million in 2025.  

The Advice Gap captures people who could benefit from retail investment advice but are not currently accessing it. As well as the low confidence non-advised investors, the Gap also includes the 4.7 million people who have at least £10,000 in cash who say they are willing to invest – but currently do not. 

The findings suggest that while the Advice Gap has reached its highest recorded level, the underlying picture is more encouraging than the headline figure might suggest. More people are engaging with investing for the first time, but existing advice models are struggling to meet demand from a larger, younger and less experienced investor population.

The research comes at a pivotal moment for the industry. The Government-backed Retail Investment Campaign, amends to risk disclosures and the rollout of Targeted Support are all designed to help more consumers move from cash into investments and access greater levels of support without necessarily needing to enter a traditional advised relationship.

Boring Money’s analysis suggests that more than half of today’s Advice Gap population, around 7.7 million people, could potentially benefit from Targeted Support services as they become available.

For investment platforms and providers, this represents a significant opportunity. A growing cohort of new investors is actively looking for help, guidance and simpler pathways into investing, but currently sits outside the reach of conventional advice models.

Holly Mackay, CEO of Boring Money said: “Although it’s disappointing to see yet another increase in the Advice Gap, I actually think there are two really positive factors at play here. One is simply that there are more DIY investors than ever before. And the other is that all the positive momentum as the industry, the regulator and the Treasury align on a series of reforms, including Targeted Support. I genuinely think this will move the dial and help less confident Brits take the first step, and invest with more confidence. 2026 is shaping up to be a pivotal year.”