Those who have taken financial advice feel more comfortable thinking about difficult subjects relating to later life than those who haven’t, research from Standard Life has revealed, prompting renewed calls for financial advice to be made more accessible.

The survey found that more than two in five (42 per cent) of those who don’t receive advice find it uncomfortable thinking about becoming ill themselves, while nearly a third (32 per cent) struggle with contemplating a loved one’s illness.

In contrast, 32 per cent of those that have taken advice said that they feel uncomfortable thinking about becoming ill, and 24 per cent feeling similarly uncomfortable thinking about a loved one’s illness.

In addition to this, the findings suggested that advised people are more likely to have put plans in place to deal with difficult scenarios in the future, with twice as many having made a will compared to those who don’t receive advice, at 54 per cent compared to 27 per cent.

Standard Life retail advised managing director, Chris Hudson, highlighted the findings as demonstration that financial advice "goes way beyond just number crunching", and can help create an order around issues that are difficult to contemplate, such as illness in later life.

"These issues can have a huge bearing on your finances, so it’s important to begin think about them and incorporate them in a holistic plan to help ensure that you’re as prepared as possible for the eventualities of later life," he continued.

“As people are living longer, their retirement finances are going to have to stretch further than before. When it comes to addressing difficult topics that can often arise in later life, there’s a clear difference in the levels of comfort among those who had have accessed advice compared to those who haven’t."

However, Hudson emphasised that financial advice remains inaccessible to many, who either can’t afford it or don’t know where to get the support they need.

"With the financial regulator (FCA) recognising the issues and holding a consultation into broadening access to financial advice, we’d like to see an environment where consistent, high quality and accessible guidance and advice is made available for all," he added.

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