Some 32 per cent of consumers are going to do their own financial planning in an effort to avoid paying fees for advice when the Retail Distribution Review (RDR) comes into effect.
Research from Deloitte has found many people are keen to save money and so this could lead to a rise in DIY financial planning.
More than one-quarter (27 per cent) of respondents said they will just go direct to the product provider having made their own product choices, while 31 per cent do not have enough confidence in their own knowledge and will seek help.
As part of RDR – which will be introduced from January 1st 2013 – charges for the adviser's services have to be agreed in advance.
James O'Riordan, lead insurance partner at Deloitte, said: "Consumers will change their buying behaviour following these regulatory changes and product providers will have to use improved segmentation strategies to understand how to reach them."
He added people should still take advice if they are large sums of money at stake.