UK Money News
28th January 2008
Financial advisors key to saving money
Financial advisors can play an important role in helping people to save money, according to their trade association.
The Association of Independent Financial Advisors (AIFA) said that professional advice was becoming increasingly important with personal debt levels rising.
Households are set to be under more pressure this year with inflation edging upwards and the property market slowing.
"Whether planning for retirement, reviewing investments or cutting credit card debt, independent research shows that consumers are financially better off once they've been advised by a professional financial adviser," said Chris Cummings, director general of AIFA.
"As the most trusted source of financial information, independent financial advisers (IFAs) are in a unique position to improve the financial wealth of the nation."
Personal debt levels topped the £1.3 trillion mark last year.
With cheap credit now more difficult to access, it is more important that people with financial problems sort themselves out and make sure they are not paying more than they need to.
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