Consumer finances have been changing at an accelerating pace. Gone are the days when people could rely on the state, their employers or even the equity built up in their own homes to provide for their retirement income. With interest rates at an all-time low, global stock markets continuing to be volatile and rules and regulations around personal finance products becoming ever more complex, independent financial advice has never been more important.
According to research, less than one in five (18%) of UK consumers has sought advice from an independent financial adviser (IFA), with retirement planning being the number one reason why people search for details of an IFA. For many others, their first contact with an IFA are for help with a residential mortgage, or life insurance.