Consumers seek independent financial advice on the road back to saving and investing
· Unbiased.co.uk’s latest Advice Drivers report highlights over 27,000 consumer requests for details of local independent financial advisers in October
· Retirement planning and investment and savings were the top triggers for seeking advice
New figures from Unbiased.co.uk, the professional advice website, reveal that as the UK may begin to see the green shoots of an economic recovery, over 27,000 consumers sought guidance from an independent financial adviser in October.
Over a third (37%) of searches through the ‘find an IFA’ service was for advice on personal retirement planning. The second most popular search was for advice on investments and savings with over a quarter (27%) of searches being made in this area.
These areas have been on the increase since June of this year as consumers begin to re-examine their investments and financial planning in light of the prospect of an economic recovery. The percentage of those searching for pension advice has increased from 33% and savings and investment advice has increased from 23% since June.
Unbiased.co.uk’s Advice Drivers report demonstrates once again consumers’ trust in independent financial advice, with Unbiased.co.uk receiving over 275,000 requests for details of local IFAs so far this year.
Karen Barrett, Chief Executive of Unbiased.co.uk, commented: “Our latest report demonstrates that as consumers worry about how the credit crunch will have affected their savings, investments and pensions and how best to proceed, they are putting their faith in IFAs to help them plan their finances. In changing market conditions, consumers need expert advice more than ever, and IFAs are the best positioned to serve these needs.
“Only an independent financial adviser can take a holistic view of your finances and recommend solutions from across the whole of market, rather than just a selection of providers, giving you a choice of how you pay for this valuable advice. In order to find an independent financial adviser, you can go to Unbiased.co.uk to find an IFA close to where you live or who specialises in the area of advice you are looking for.”
The top ten Advice Drivers in October 2009 were as follows:
|
Top ten Advice Drivers: October 09 |
% of total |
|
|
1 |
Personal Retirement Planning |
37% |
|
2 |
Investment & Savings |
27% |
|
3 |
Mortgages |
10% |
|
4 |
ISAs/OEICs/Unit Trusts |
9% |
|
5 |
Stakeholder Pensions |
7% |
|
6 |
Taxation Planning |
6% |
|
7 |
Personal Protection |
4% |
|
8 |
Investment Trusts |
3% |
|
9 |
Equity release |
3% |
|
10 |
Saving for children |
3% |
|
TOTAL (All drivers) |
27,109 searches |
|
