Demand for independent financial advice heats up

        IFAP’s quarterly Advice Drivers report reveals appetite for independent financial advice was 13% higher this summer than last

        As demand for independent retirement planning advice reached record heights totalling 40,008 requests for details of local retirement planning IFAs between July and September alone

In the third quarter of 2006, IFA Promotion (IFAP), the organisation promoting the benefits of independent financial advice, handled 138,157 requests for details of local IFAs, a 13% rise on the same time last year. And it seems the appetite for retirement planning advice was a key driving force behind this increase.

The fifth of IFAP’s regular reports, compiled from the comprehensive data on the selections people make when requesting a local IFA, reveals that the number of enquiries for retirement advice remained the most popular consumer enquiry throughout July to September.

The top ten Advice Drivers last quarter were as follows:

^{*IFA Promotion figures using consumer searches on www.unbiased.co.uk NB: more than one product area can be selected}

David Elms, Chief Executive of IFA Promotion, commented: “Our report reflects that even six months after A-Day there is still a thriving demand for independent financial advice. It is also indicative of consumers’ sustained need for advice on preparing for retirement, which is of course a very positive development”

Consumers can obtain details of local IFAs who focus on specific product areas by visiting www.unbiased.co.uk or by calling 0800 085 3250.  They can also select IFAs with additional qualifications, certain payment options, or state a preference to see a male or female IFA.

For further information please contact:

David Elms                                                Laura Wood / Kate Horne
Chief Executive                                        Lansons Communications
IFA Promotion                                            020 7294 3689 / 020 7566 9716
020 7833 3131

For expert comment or case studies from over 200 media-friendly IFAs, journalists should call IFA Promotion’s Media Services hotline on 020 7294 3682 or search online at www.unbiased.co.uk/media

1.      Independent Financial Adviser Promotion

IFA Promotion, is the organisation established in 1989 to promote the value and accessibility of independent financial advice to the public. It represents around 9,000 firms of independent financial advisers across the UK, incorporating over 17,000 registered individuals. These individuals hold over 20,000 incremental qualifications which are each individually verified by the awarding body. IFA Promotion welcomes the prominent display of incremental qualifications and further developments into the credentials of independent financial advice.  

IFA Promotion is sponsored by 32 leading financial institutions, and in the past 12 months, over 600,000 consumers and businesses used unbiased.co.uk to find local independent financial advice.

IFA Promotion believes Independent financial advice should be:

         Affordable. The option to take independent financial advice should be available, by right, to all- not just the wealthiest in society.

         Convenient. IFAs should be available in the location of the consumer’s choice, wherever they live in the UK.

         Transparent. It must be clearly transparent to consumers who is able to offer independent financial advice and who is not.

2.      Independent Financial Adviser Promotion’s sponsors