This compared with a third (31%) trusting parents for financial advice, with a similar number (27%) choosing their partner's assistance.

However, the research indicated that it may not be the cost of advice that is shying people away from contacting an IFA.

The insurer said there was "an encouragingly strong showing in favour of paying for financial advice", with 31% saying financial advice should be paid for compared to similar figures for accountancy (34%) and legal advice (37%).

Andy Briggs, chief executive officer of Friends Life, said: "It appears people are recognising the need for financial advice, which on the surface is very encouraging.

"It shows that money matters are preying on people's minds and whilst they might be relying on family and friends for this instead of bringing in the professionals, they are at least assessing their financial situation."

"The danger is that by consulting your Mum or Dad instead of a qualified financial adviser you learn someone else's financial habits instead of making your own empowered decisions supported by all the facts," he added.