UK Money News
3rd June 2008
Pension study highlights value of financial advice
The importance of consulting an independent financial adviser (IFA) when planning for retirement security has been highlighted by a new study.
MGM Advantage quizzed 3,000 Britons for its survey in a bid to determine the impact that consulting an IFA can have on pensioners' financial well-being.
Among the survey's findings were that pensioners are twice as likely to have to downsize if they have never seen an IFA and are almost three times as likely to have painful regrets over how they managed their money earlier in life.
Furthermore, pensioners who have never seen an IFA are also four times more inclined to have to return to work.
Chris Evans, chief executive of MGM Advantage, said: "Our nationwide research suggests that in many ways, an IFA is better than a life coach.
"It is a startling acknowledgment of the contribution financial intermediaries have made over the past 25 years to Britain's quality of life in retirement."
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