Demand for Independent Financial Advice on Rise
23 July 2012 (PLANSPONSOREurope.com) - People in the UK are not just relying on plan sponsors for financial advice with demand for personal retirement planning on the increase, according to research from unbiased.co.uk.
The research shows enquiries on its ‘find an IFA’ search increasing from 30% in May to 33% in June 2012.
Karen Barrett, chief executive of unbiased.co.uk, said: “The issue of a comfortable and lengthy retirement is one that resonates with all of us. With the state pension no longer being a sufficient form of income on its own, we need to do more to maximise our finances and ensure we do not outlive our money. Our recent Value of Advice report2 found that an independent financial adviser can provide you with a significant income boost in retirement. Figures show that the average pension pot for those who have been advised on their retirement planning is £74,554.30, double that of those not seeking advice (£37,277.10).”