UK Money News
18th June 2008
Brits shunning services of financial advisers
More than half of the population have never sought out professional financial advice to help them plan for their financial future, it has been revealed.
According to a poll conducted by Zurich, 57 per cent of people have shunned the advice of independent financial advisers (IFAs) in favour of making important decisions themselves.
The most common reasons given are that people feel that they do not have enough disposable income to make it worthwhile and the perception that it is too expensive to consult a professional.
Tony Solomon, director of Zurich's life marketing division, said that the findings made for worrying reading and expressed concerns that the unwillingness to seek out help could leave people exposed in the current economic downturn.
He said: "The sheer number of people walking blind into their financial decision-making presents a disturbing trend in society and an alarming picture for the future.
"It is troubling to know that more than half of the population has never sought financial advice at a time when they most need it."
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