Consumers turn to IFAs for investment advice

29 November 2007
Potential investors are consulting independent financial advisers (IFAs) more than ever, new figures show.

Analysis of figures from unbiased.co.uk's requests for advice revealed that more than 33,000 people wanted guidance on savings and investments between July and September.

This is an increase of 17 per cent on figures from the same time last year.

Numbers appear to have been boosted in particular by requests for advice about offshore investments, which rose by 25 per cent on the same time last year, to almost 4,000.

Unbiased's Advice Drivers report shows that consumers have faith in independent financial advice, the organisation claimed.

Chief executive David Elms said: "It is reassuring that people are continuing to value gold-standard whole of market advice on their portfolio from an IFA in order to best protect themselves against what may lie ahead."

Recent research from uSwitch showed that a third of people are worried about the current economic situation.

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