The study, which was conducted online on 30 October, found that 21% of adults believed they were not saving as much as they could and would be able to put away an extra £134 a month on average if they had financial advice.
Around a fifth believe they would be able to save or invest £200 or more extra a month.
Younger savers and investors needed support with their finances the most, the research revealed.
Nearly a third (30%) of under-35s believed they were not saving enough because of a lack of advice compared with just 12% of the over-55s who were quizzed.
The society says its research showed there was demand for advice on savings and investments, but customers were struggling to find advisers.
Around 20% said they had struggled to access advice on savings in the past two years and 11% had struggled to get advice on investments.
Banks and building societies are increasingly being considered as a potential source for independent advice, it was claimed by the Nottingham.
Around 73% of adults said they would consider becoming a customer of a bank or building society which provided advice services.
However, branch closures were making it more difficult to access advice, the company warned.
The building society said it had responded to the findings by “transforming its branch proposition to offer a wide range of independent financial advice-based services” this included support on savings products, and independent advice for mortgages and Financial Planning.
David Marlow, Nottingham Building Society chief executive, said: “It is worrying that people are saving or investing less than they could afford, simply because they cannot access advice on their finances.
“The increasing competition among providers means there is more choice for savers and investors, but at the same time people clearly need more support on deciding what is right for them and their individual circumstances.
”Banks and building societies can play a role in making face-to-face advice more accessible, but branch closures are making it harder for customers to get the advice they need.
“The Nottingham is committed to playing its part by expanding its branch network and offering more services.”