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Brits urged to contact IFAs for retirement advice
Just eight per cent of British people approach independent financial advisers (IFAs) to discuss their retirement plans, new research has revealed.
The study, conducted by the Safe Home Income Plans (SHIP), found that four times this proportion (32 per cent) scan the internet for such advice.
According to the equity release trade association, 73 per cent of Britons intend to manage their retirement finances themselves.
However, many respondents to the survey admitted that they were not aware of all the options available to them.
"The findings show that without consulting an IFA, consumers are likely to miss out of the full spectrum of retirement planning products," warned Andrew Rozario, director general of SHIP.
He added: "There seems to still be some uncertainty about the definition of equity release, but [we are] working hard to increase consumer understanding of the product."
Latest News & Stories
- Catalonia wants to cancel licenses for at-risk drivers
- Merkel Denies Forcing Spain Into Bailout
- IMF Praises Spain's Banking Reforms
- Greater powers for Spain's central bank planned
- Spain Appoints New Body To Represent SMEs
- Spain retailers take on more holiday staff
- Spain ‘will take 20 years to recover from crisis’
- Emergency Landing at Madrid-Barajas
- A quarter of expats not being offered moving allowance
- Spain to Privatise Rail Services From Early 2014
- The main differences between a Spanish and UK Mortgage
- The Implications of an English Will in Spain
- Lifetime Loans & Equity Release
- Making a will in Spain
- Inheritance Tax in Spain
- Claiming a Spanish or UK Pension in Spain