Retirement remains number one advice driver

Over a third (35%) of consumers sought retirement planning advice in May when using unbiased.co.uk’s ‘find an IFA’ service.

The second most popular ‘advice driver’ in May remained investment and savings, with a quarter of consumers (25%) searching for an IFA who specialises in this area. A need for independent financial advice on these complex areas continues to be high as consumers consider their investments and long-term financial planning for the future.

Unbiased.co.uk ‘find a mortgage adviser’ statistics also reveals first-time buyers remained the top search topic over the last month, dominating 39% of consumer enquiries for a local, whole of market mortgage adviser. The numbers of consumers looking for remortgage advice also continued to creep up, with 32% of searches in this area in May- up 3% from April.

Karen Barrett, chief executive of unbiased.co.uk, commented: “With the coalition government underway and an emergency budget imminent, many consumers will be scrutinising their finances in a bid to understand how they will be affected by any changes. Alterations to pensions and tax levels, such as capital gains tax, will have significant repercussions for those affected, and it is crucial for everyone to understand if and how this will impact them. Retirement planning is a hugely complex area and only an independent financial adviser can look at all factors relevant to an individual and their circumstances, and recommend the best solution for them.

“While the housing market may still be a little uncertain due to the knock on effect of the new coalition government, an increase in affordable mortgage options has meant the market is a lot more tempting to first-time buyers than it was a year ago. However, the mortgage maze can always be confusing whatever the circumstances so it’s for first-time buyers and also those looking to remortgage to seek professional advice. Only a whole of market mortgage adviser can give advice on products from across the market, which suit the individual’s needs and financial position.”