New research from unbiased.co.uk has found 52% of Britons believe they would benefit from seeking financial advice.
This number rises to 59% among younger generations, with only 6% of people in their 30s saying they don’t think they would benefit at all from seeking financial advice.
Unbiased.co.uk further reveals private pensions, mortgages and stocks and shares ISAs top the list of areas with which the nation would like professional advice and help.
While the nation as a whole placed private pensions at the top of their list, the UK’s 20 and 30-somethings name mortgages as the number one area they consider themselves needing advice on. For the ‘at retirement’ generation (60-69 year olds), annuity purchases topped the list.
The website has re-vamped its free ‘find an adviser’ checklist, which is designed to help people ask the right questions when ‘shopping around’ for advisers, helping them to compare the different kinds of services offered by each advisory firm.
Despite concerns over the impact of the Retail Distribution Review (RDR) on the demand for advice, unbiased.co.uk, which lists details of over 25,000 advisers on its online ‘find an adviser’ search, has seen a strong demand for whole of market advice since the start of 2013. The website has reported an 18% increase in visitors to its ‘find an adviser’ search, year on year.
Karen Barrett, chief executive of unbiased.co.uk, said: “There has been much discussion within the industry regarding the effects of the recent regulatory changes, but no one has stopped to ask consumers how they view the financial advice industry. Our research has brought to light the fact that consumers see a clear benefit in seeking whole of market advice, which is a really encouraging sign. Most people wouldn’t consider fixing their car or doing legal work for their house purchase without professional help, so why should finances be any different?”
