Americans' interest in financial advice is growing, but overall, remains dangerously low, according to a survey by TIAA-CREF. 

The number of those who are interested in receiving financial advice increased to 35 percent from 24 percent in a 2013 survey. But that still left about two-thirds (65 percent) of those surveyed who said they were not interested in receiving such advice. 

That number may be so high because of a general lack of understanding of what financial advice is. The study found that only 57 percent of those not interested in advice are aware that it can include specific recommendations. 

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For the minority that have sought advice, retirement is front of mind: 86 percent requested retirement-specific guidance, up from 81 percent the previous year and 71 percent in 2012. 

The study suggests that those who do seek advice use it when they get it, and that it helps create financial peace of mind. Two-thirds feel optimistic about their financial future, and 86 percent acted on the advice they received. 

Advisors were able to impact their clients' spending and saving habits: 62 percent of respondents changed their spending habits after being advised to, and 46 percent increased contributions to their retirement plan. 

But for all of the positive results experienced by those who access advisors, the study is particularly clear on one matter: the advisory industry faces increasingly significant trust issues. 

Most respondents (64 percent) said it's hard to know which sources can be trusted, up 16 points from last year's survey. 

Advisors are also challenged by the perception that good advice is unaffordable. Others said the information they've sought in the past didn't meet their individual needs (39 percent). 

"Many popular misconceptions about financial advice are just that —misconceptions," said Eric Jones, managing director of advisory solutions at TIAA-CREF. "Unfortunately, they can paralyze peoples' search for trustworthy advice, leaving many people disengaged with their financial futures. The fact is, there are many reliable, affordable sources for high-quality financial advice — including, for many, their employer." 

The TIAA-CREF study did leave plan sponsors with one important take-away. 

More than half of respondents said the availability of no-cost financial advice in their benefits package would make a job and employer more attractive.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.