New year demand for pension IFAs doubles, as need for A-Day advice begins to dawn

Confidentially search for details of independent financial advisers close to where you live or work from around 9,000 IFA locations UK-wide.

·         IFA Promotion reports doubled enquiries for advice on pensions provision in January 2006, compared to last year

·         Growth of A-Day awareness prompts 21,580 enquiries about personal retirement planning - www.takepensionaction.co.uk can help explain how the changes could affect you

The rise in A-Day awareness is finally prompting a demand for pensions advice, according to figures from IFA Promotion, the organisation promoting the benefits of independent financial advice. IFAP received 21,580 enquiries for independent financial advice on personal retirement in January 2006 through its website and freephone number - double the number of enquiries for the same month in 2005 (11,170).

Just 16% of people knew that “A-Day” referred to pension reforms in June 2005 but this figure rose to 47% by January 2006*. However just 21% planned to review their pension arrangements in the next six months. Nonetheless the rise in awareness does seem to have been translated into a need for professional advice which will help people understand what A-Day means for them and take action where needed.

David Elms, Chief Executive of IFA Promotion, “There has been a huge rise in A-Day awareness since last summer and IFAP has seen this driving demand for independent advice on personal retirement planning through our online and offline searches. However people need to take action as quickly as possible as millions of retirement savers could end up worse off by not reviewing their pension arrangements to take account of these reforms. With less than a month to go, the time to act is now, not when some of the potential opportunities to protect existing benefits have been and gone.”

IFA Promotion’s A-Day help-site, www.takepensionaction.co.uk can help people to understand how A-Day could affect their specific situation and show steps they can take to benefit, or avoid losing out, from the April 6^th reforms.

Consumers can obtain details of local IFAs who focus on retirement planning or other specific product areas at 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.

                        *Figures compiled from comprehensive data on the selections people make

when requesting IFA details through IFA Promotion

-ends-

For further information please contact:

David Elms                                                Chloe Mann/Holly Godden

Chief Executive                                          Lansons Communications

IFA Promotion                                            020 7294 3681 / 020 7294 3674

020 7833 3131

* IFA Promotion commissioned YouGov to survey 2276 UK adults in June 2005 and 2232 UK adults in January 2006.

    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 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 around 9,000 firms of independent financial advisers across the UK and is sponsored by 32 leading financial institutions. In the past 12 months, over 530,000 consumers and businesses used IFA Promotion 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

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