Retirement planning number one factor for seeking financial advice Go compare with our comparison table

Retirement planning number one factor for seeking financial advice

19 April 2010 / by Lois Avery

As Conservative plans to scrap the default retirement age are announced a new reports says that planning for retirement is the top reason for seeing an Independent Financial Advisor .

In their election manifesto Tory leader David Cameron announced intentions to raise the retirement age to 66 or scrap it completely if they are elected on May 6.

And now Unbiased.co.uk's latest Advice Drivers report has revealed that 36 per cent of consumers searching for independent financial advice sought guidance on personal retirement planning in March.

Many claim that a default retirement age not only helps people think about when it is right to retire - it also enables employers to plan more confidently for the future.  There are also concerns that changes to the retirement system could mean even more consumer confusion on complicated issues such as pensions and annuities. 

Karen Barrett, Chief Executive of unbiased.co.uk, comments: "As the Tories'  plans to end the default retirement age puts the election focus on pension planning, our figures reveal it is clear that retirement preparation is an ongoing key topic for consumers where they choose to seek independent financial advice from professionals. 

“Consumers continue to see the value of specialist product advice when they are embarking on complex and long-term financial decisions such as pensions and investments, and are searching for an IFA to guide them through their choices.

"Only an independent financial adviser can give you specialist advice on specific product areas and can recommend solutions from across the whole of the market, rather than just a selection of providers.  They can also give you a choice of how you pay for this valuable, expert advice. In order to find an independent financial adviser, you can go to unbiased.co.uk to find an IFA close to where you live and who specialises in the area of advice you are looking for."

The report also revealed that the second most popular advice topic sought by consumers in March was investment and savings, with nearly a third searching for a financial advisor specialising in this area.  Demand for independent financial advice on these specialist areas continues to be high as consumers consider their investments and long-term financial planning for the future.

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