Half of consumers want retirement advice

Sarah Davidson

September 9, 2010

Of these 49%, 11% of consumers were specifically seeking stakeholder pension advice, which has jumped from 4% in July.

Retirement planning has remained on an upward trend since May this year and continues to remain the number one ‘advice driver’ for consumers searching for an independent financial adviser (IFA).

The number of consumers searching for an IFA specialising in investment and savings also continued on its upward trend since May this year, rising to 27% in August.

Demand for independent financial advice on these specialist and more complex areas continues to be high as consumers consider their investments and long-term financial planning for the future.

Although there has been a 1% drop in the number of first-time buyers seeking whole of market mortgage advice, it remains the top advice driver for August totalling 36% of all enquiries for a local, whole of market mortgage adviser. Those looking for remortgage advice also dropped slightly by 1%, but this remained the second most popular ‘advice driver’ at 33% of the total searches.

Karen Barrett, Chief Executive of unbiased.co.uk, comments: “With ongoing economic turbulence, many consumers nearing retirement age or thinking about retiring may be confused about their options. Retirement planning is a vastly complex area and only an independent financial adviser can look at all the factors relevant to an individual and their circumstances, and recommend the best solution for them from the whole of the market.

“It is important that both first time buyers and also those remortgaging seek professional advice to ensure they are taking the right approach and making the best decisions for their individual circumstances. Only a whole of market mortgage adviser can give you advice on products from across the market, which suits your individual needs and financial circumstances.

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