MPC Rate Cut Sees Savers' Plight Worsen
6 February 2003
MPC Rate Cut Sees Savers' Plight Worsen
CALL 0800 085 3250 OR VISIT www.unbiased.co.uk FOR IFA PROMOTION’S FREE GUIDE TO SURVIVING ON SAVINGS WHEN RATES ARE LOW
With many experts expecting rates to remain on hold today for the 15th month in a row, the Bank of England’s decision to cut Base Rate to 3.75% is a surprise that savers could do without. In recent years, banks and building societies have wasted no time in passing on these rate cuts to savers, so what can consumers do to ensure good returns in uncertain times? IFA Promotion has produced a guide explaining the various investment vehicles available to investors keen to make the most of the money they have saved.
The Guide to surviving on savings when rates are low aims to demystify some of the jargon surrounding investments as well as providing useful pointers of alternative investments when interest rates are dropping. The guide highlights some specific questions to consider before meeting up with your independent financial adviser and outlines a plethora of investment ideas across the whole risk spectrum for the investor to consider.
David Elms, Chief Executive of IFA Promotion said; “With today’s monetary policy announcement showing a further cut on already depleted savings rates, the plight for savers worsens and now is a good time to consider the options, are ensure that you are getting the most from your money? With so many options and factors to consider, the savings market can be baffling. It is vital that consumers consider all options and seek independent financial advice to ensure they invest in the most suitable product for them.”
For a free copy of the guide, together with details of local independent financial advisers who can talk through your options in detail, call the IFA Promotion consumer hotline on 0800 085 3250 or visit www.unbiased.co.uk
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For further information please contact:
David Elms or Liz Willder
Chief Executive Lansons Communications
IFA Promotion 020 7490 8828
020 7833 3131
For expert comment or case studies from over 160 media-friendly IFAs, journalists should call IFA Promotion’s Media Services hotline on 020 7294 3682 or search online in ‘Media Services’ at www.unbiased.co.uk
1. Independent Financial Adviser Promotion
IFA Promotion was established in 1989 to promote the value and accessibility of independent financial advice to the public. It represents over 10,000 firms of independent financial advisers across the
IFA Promotion’s 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
· 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
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AMP NPI |
Old Mutual Asset Managers |
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AXA |
Prudential |
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Barclays Global Investors Funds |
Scottish Equitable Plc |
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Bright Grey |
Scottish Life |
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BUPA |
Scottish Mutual Assurance Plc |
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Scottish Provident |
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Clerical Medical Investment Group |
Scottish Widows Plc |
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Eagle Star |
Selestia |
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Friends Provident |
Standard Life Assurance Company |
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GE Life |
Swiss Life ( |
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INVESCO Fund Managers Ltd |
Skandia UK Group |
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Legal & General |
The Children’s Mutual |
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National Savings & Investments |
Winterthur Life UK Ltd |
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Zurich Life Assurance Company |
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