15 August 2007

Consumer satisfaction with independent financial advisers at record levels (2007)

Independent research published today, reveals that satisfaction levels amongst consumers who go on to see an Independent Financial Adviser (IFA) after using Unbiased.co.uk’s ‘Find an IFA’ service, are at record levels.

The research, undertaken by Consensus, reveals how a representative sample of Unbiased.co.uk’s 600,000 online and hotline enquirers, who then went onto see an IFA, found the experience.

Almost nine out of ten (86%) consumers using the online service (Unbiased.co.uk) said they were fairly (30%) or very satisfied (56%) with the meeting with the IFA and its outcomes.    And when it comes to consumers using the hotline (0800 085 3250) – the results are very similar – with 21% fairly satisfied and 65% very satisfied.   

At the same time – the vast majority (90%) of consumers found the information they received from the Unbiased.co.uk’s ‘Find an IFA’ service helpful.  The service provides an interactive search for consumers seeking independent financial advice.   Consumers can search for an IFA by location (postcode), specialisation, qualifications, and gender.

David Elms, Chief Executive of Unbiased.co.uk, commented: “Record levels of consumer satisfaction in the independent financial advice experience reveal that the IFA brand is stronger than ever.   These figures clearly highlight that independent financial advice remains a crucial element in consumers’ financial planning and that the Unbiased.co.uk search adds real value to our 9,000 member IFAs.”

-ends-

Research undertaken by Consensus amongst 779 consumers who used Unbiased.co.uk’s ‘Find an IFA’ service during 2006/07.

For further information please contact:

David Elms

Anna Schirmer /Jonathon Grove

Chief Executive

Lansons Communications

Unbiased.co.uk

020 7294 3682

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 28 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

Aberdeen Asset Management

Legal & General

Abbey

Lincoln Financial Group

AEGON Scottish Equitable Plc

Mortgage Express

Alliance Trust

National Savings & Investments

AXA Life

New Star Investment Funds

Bright Grey

Norwich Union Life

BUPA Health Services

Prudential

Canada Life Ltd

Scottish Life

The Children’s Mutual

Scottish Life International

Clerical Medical Investment

Scottish Widows Plc

Defaqto

Skandia UK Group

Friends Provident

Standard Life Assurance Company

Tomorrow

Unum

Invesco Perpetual

Zurich Intermediary Group

 

Registered Office: IFA Promotion Ltd, 90 St. Vincent Street, Glasgow G2 5UB. Registered in Scotland: No. 114606

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