A recent survey by Zurich found that 57% of the UK population aged 18 and over has never seen a financial adviser for financial advice.
84% of 18 to 24 year olds have never sought advice with 64% of those aged 25 to 34 have also not sought financial advice. Half of all those who have never seen a financial adviser think that they do not have enough disposable income to justify seeing a financial adviser.
20% of those surveyed say it is too expensive to have an adviser with others contacting their bank or asking family and friends for financial advice.
These figures are very worrying as good sound financial advice can have long lasting benefits. Your local bank or family and friends are not going to provide the depth of knowledge and technical detail needed to help establish a good financial plan.
Independant financial advisors (IFA) have many years of practical experience in dealing with all types of clients and solving their financial problems. This can be as simple as how best to save £100 per month to mortgages and complicated tax issues. Too many times we have met with clients who have received advice from their bank. The products they have are not the best in their class, are often poor performers and the clients invariably do not understand how their products work and integrate together.
Seeking good independent financial advice can pay dividends over the longer term and professional financial advice will provide a second opinion and alternative thinking to enable you to plan your finances correctly.