Research carried out by fairinvestment.co.uk has found that more than half of people questioned would go online to find information about financial products.
When questioned, 57 per cent of participants said they would use the internet when searching for financial information, compared with a joint 12 per cent who said they would rather go to their bank or a financial advisor. The results are inline with society’s increasing dependence on the internet.
After consulting a bank or financial advisor for information about financial products, the next popular choice was newspapers with 7 per cent of people questioned. A measly 2 per cent said they would consult trade magazines, suggesting that specialist information is no longer sufficient, people want the latest information, and the speed and accuracy of the internet allows it to stay ahead of its game.
Other places people questioned said they would go to for information about financial products, included the television and 'a chap on the train'. 10 per cent of participants opted for 'other' when completing the survey but many did not elaborate.
"The results from our research show how popular the internet is for research. People are using it as a reliable tool in their decision making about important and complicated issues such as financial products and services," said David Doulton, Director at Fair Investment.co.uk
"It is not surprising that people are going online for financial information; sites like fairinvestment.co.uk give free impartial information on things like mortgages
through the most recent and up to date news, comparison tools and reviews.
This information can be accessed absolutely anywhere at any time, thanks to broadband
technology, making the internet the preferred option over visiting a bank or financial advisor, Mr Doulton continued.
"The internet provides a quick and convenient way for people to become self informed in areas such as personal finance, where there is access to up to date rates, news and content.
"Our research shows that the internet is the preferred choice of where to go for information about financial products and services; this is not surprising when you consider such attributes." Mr Doulton concluded.