New research from Northern Ireland's Consumer Council has identified a clear and genuinely addressable barrier to financial wellbeing. The study, From Banking to Borrowing, found that shame, feeling overwhelmed and simply not knowing who to contact are preventing many people from seeking debt advice, with some waiting more than three years before reaching out. For accountancy and advisory firms across Ireland, this research points to a genuine opportunity to strengthen how early financial support is offered to clients and staff alike.

This finding deserves to be read as a call to constructive action rather than a discouraging statistic. Sean Breen, the Consumer Council's director of financial and postal services, said barriers including stigma and shame remain firmly in place, and that work is needed to give consumers the confidence to seek advice earlier. The research points to three priorities for financial advisory practices: the specific barriers identified, the striking parallel picture south of the border, and the practical response already taking shape.

The Northern Ireland findings are based on a survey of 1,000 residents carried out in March 2026. Beyond shame and confusion about where to turn, many respondents said they believed they could resolve financial difficulties alone, delaying advice until problems had deepened considerably. This pattern of delay, rather than any single cause, appears to be the central challenge advisers now need to address.

A strikingly similar picture exists in the Republic of Ireland. The Money Advice and Budgeting Service delivered 159 financial literacy events between October and December 2025 alone, reaching almost 1,500 people, while regional caseloads have risen by around 10% amid cost of living pressures. Together, these figures suggest demand for accessible, judgement free financial guidance is strong across the whole island.

Encouragingly, institutional responses are already building real momentum. The Consumer Council's new 'Make your finances fitter' campaign signposts free, confidential support for anyone worried about debt or borrowing, while MABS continues its long running education programme across Ireland. This growing infrastructure gives advisory firms a genuine foundation to build on rather than a gap to fill alone.

Firms can support this momentum in several practical ways. Advisory firms should routinely signpost trusted services like Consumer Council supports and MABS to personal and business clients showing early signs of financial strain. Building financial wellbeing support into staff benefits recognises that employees can face the same barriers privately. Professional bodies can lend credibility and reach to campaigns like this one as they expand.

The overall direction is genuinely encouraging for the finance sector. With institutional momentum building and the accountancy profession's trusted advisory role well placed to support it, more people across Ireland stand a better chance of seeking help earlier and rebuilding their financial confidence.