The study illustrates the potential worth of the market to advisory businesses, according to unbiased.co.uk, which carried it out.
On Friday the FCA said the annuities market was 'disorderly' and failing consumers as it published findings of a year long review.
It has now launched a competition study to delve deeper into the problems it found.
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Key findings were that 80% of people were losing out on a significantly more generous retirement income and it showed a lack of shopping around to find a better annuity from a different provider.
The survey demonstrated that 73% lack the confidence to prepare their annuity without an adviser.
Karen Barrett, chief executive at unbiased.co.uk, said: ""Our Get Advised research shows only 27% of people think they'd be confident arranging an annuity without the help of a financial adviser, clearly showing the value whole of market, professional advice can add when people are making this important decision.
"We also know that there can be a significant uplift in retirement income as a result of seeking advice from a specialist whole of market adviser."
Retirement planning is the number one advice area searched for by consumers on unbiased.co.uk, she said.
Ms Barrett said although the FCA's findings were no surprise making the shopping around process for annuities easier would not be the answer to the problems highlighted.
The FCA will announce more findings this summer.