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IFA demand rising

14 July 2006
The demand for independent financial advice services has seen a nine per cent year-on-year rise, according to IFA Promotion (IFAP).

The organisation responsible for promoting the benefits of independent financial advisers (IFAs) reported 312,719 requests for details of IFAs in the first half of 2006.

Mortgage advice remains one of the most sought-after services offered by IFAs, with 22 per cent of people citing property-purchase loans as the reason for their guidance request.

David Elms, chief executive of IFAP, commented: "Our report reflects the increasing demand for independent financial advice.

Mr Elms noted that as we approach "the traditional house buying season", many people would be looking to receive independent advice to ensure they were getting the best deals or most suitable products.

"People are taking action to secure their own financial futures by seeking help from independent experts," he added.

Property purchases are often one of the biggest financial commitments a person will take on in their lifetime and so the value of impartial guidance on the subject can never be valued too highly.

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