Apparently financial advice is the new rock'n'roll. That may be pushing it - but it certainly appears that the young are just as tuned in their financial futures as older people are… and if anything, they're even more savvy. According to our latest research, under 35s are more likely to seek professional advice than over 55s in all areas except one (can you guess which?). In the key areas of property purchase, investment and business, the generation gap is stark: under 35s are twice as likely to seek professional advice at these major life events.
The one area where both age groups came neck-and-neck was (you guessed it) pensions, with both agreeing on the need for advice when planning for retirement. This life stage continues to be the main driver of professional advice in general - find out more facts and figures here.
The government has launched its free pension guidance website, Pension Wise. The site takes consumers through six key steps of retirement planning, including seeking professional advice. The launch of the website is only part of Pension Wise, with phone and face-to-face consultations to be introduced closer to the pension freedoms date. How informative do you think consumers will find both the site and the consultation? Do you think this site will prompt more people to seek advice, or lull them into a false sense of security? Share your views here.
This week's adviser of the week is Joss Harwood for writing 'Many happy returns from the taxman' for our TaxAction campaign - explaining how the taxman taketh away… but also giveth, if consumers know about their allowances and reliefs.
Auto-enrolment is now being rolled out across small businesses. Phil Mitchell of Towergate financial explains what business owners should expect as they head towards staging date. You can read his piece here.
The first industry-wide report on the Enterprise Investment Scheme, based on an analysis of 244 investments has been published by Intelligent Partnership. Hailed as a "bible" by EISA Chairman Lord Howard Flight, the report has found a noticeable increase in the numbers of investors and advisers planning to include EIS in their client portfolios over the next 12 months. You can download your free copy by clicking here.
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