Retirement planning remains top ‘advice driver’ for consumers in September
· Unbiased.co.uk’s latest Advice Drivers report reveals 48% of consumers searching for independent financial advice sought guidance on personal retirement planning in September using unbiased.co.uk’s ‘find an IFA’ service
· Over a quarter (27%) of consumer searches were for investment and savings advice
· First-time buyers seeking advice increased slightly by 1% and remains the top search on unbiased.co.uk’s ‘find a mortgage adviser’ service at 37%
Latest figures from unbiased.co.uk, the professional advice website, reveal 48%* of consumers sought retirement planning advice when using unbiased.co.uk’s ‘find an IFA’ service in September. Of these 48%, 11% of consumers were specifically seeking stakeholder pension advice and the remaining 37% were in search of general retirement guidance.
The number of consumers searching for an IFA specialising in investment and savings remained at 27%, and this topic continued to be the second most popular advice driver in September. Demand for independent financial advice on these specialist areas continues to be high as consumers consider their investments and long-term financial planning for the future.
Unbiased.co.uk’s ‘find a mortgage adviser’ statistics also reveal first-time buying remained the highest search topic over the last month, representing 37% of consumer enquiries for a local, whole of market mortgage adviser. Remortgaging advice remained the second most popular advice driver despite falling by 3% in the last month, with 30% of consumers searching for help with remortgaging.
Karen Barrett, Chief Executive of unbiased.co.uk, comments: “Everyone should think about what they will do when they stop working and how they will pay for their lives in retirement. The numerous retirement planning options are confusing and complex and it’s no surprise that retirement planning advice is the most sought after area of independent financial advice. Only an independent financial adviser can look at the whole range of options and recommend the best choice for their clients.
“It is equally crucial for people who are looking for a first-time buyer mortgage or who are remortgaging to seek advice from a mortgage professional who can access products from the whole of the market rather than just a small selection.
“Visit unbiased.co.uk and use our ‘find an IFA’ and ‘find a mortgage adviser’ searches to find a qualified independent financial adviser or whole of market mortgage adviser.”
‘Find an IFA’ and ‘find a mortgage adviser’ top ten Advice Drivers in September 2010 were as follows:
|
Top ten Advice Drivers: September 2010 |
% of total |
Top ten Mortgage Advice Drivers: September 2010 |
Requests for a whole of market mortgage adviser % of total |
|
|
1 |
Personal Retirement Planning |
37% |
First time |
37% |
|
2 |
Investment & Savings |
27% |
Re-mortgage |
30% |
|
3 |
Mortgages |
14% |
Residential |
23% |
|
4 |
ISAs/OEICs/Unit Trusts |
13% |
Buy-to-let |
16% |
|
5 |
Personal Stakeholder Pensions |
11% |
Self employed |
8% |
|
6 |
Taxation Planning |
7% |
High loans to value |
8% |
|
7 |
Equity release |
5% |
Equity release |
7% |
|
8 |
Personal Protection |
4% |
Sub Prime |
5% |
|
9 |
Investment Trusts |
4% |
Flexible |
3% |
|
10 |
Savings for children |
4% |
Commercial |
2% |
ENDS
* 48% of consumers selected either personal retirement planning (37%) or personal stakeholder pension (11%). Added together these total 48%.
Karen Barrett, Chief Executive, unbiased.co.uk: 020 7833 3131
Anna Schirmer/Anna Moulds/Ellie Brooke, Lansons Communications: 020 7294 3682
For expert commentary or case studies from over 150 media-friendly IFAs, journalists should visit www.unbiased.co.uk/bluebook.
About unbiased.co.uk, the professional advice website
The unbiased.co.uk portal is a free and confidential UK-wide search matching consumers with local professional advisers: ‘find an IFA’, ‘find a mortgage adviser’, and ‘find a solicitor’, and is currently inviting registrations for its ‘find an accountant’ service. These searches enable consumers to find professional advisers by postcode, area of specialism, qualification and payment method. In 2009, unbiased.co.uk fulfilled half a million searches for local, professional advice.
IFA Promotion, the organisation behind unbiased.co.uk, is now in its 21st year, and was set up to promote the benefits of independent financial advice to consumers. IFAP is sponsored by the following companies:
|
AEGON |
J.P. Morgan Asset Management |
|
Alliance Trust |
Legal & General |
|
Aviva |
Lockton |
|
AXA Life |
Lutine Assurance Services |
|
Bright Grey |
MetLife |
|
Canada Life Ltd |
Opinium Research |
|
Cardif Pinnacle |
Prudential |
|
The Children’s Mutual |
Royal London 360° |
|
Clerical Medical Investment |
Scottish Life |
|
Ecclesiastical Investment Management Ltd |
Scottish Widows Plc |
|
Friends Provident |
Standard Life Assurance Company |
|
ICM Research |
Sun Life Financial of Canada |
|
Invesco Perpetual |
Zurich Intermediary Group |
Registered Office: unbiased.co.uk is the consumer brand of IFA Promotion Ltd, 90 St. Vincent Street, Glasgow G2 5UB. Registered in Scotland: No. 114606