A survey carried out by Ipsos MORI for IFA Promotion suggests the internet is now the most popular method of seeking out financial advice among the key client demographic sought by IFA businesses.
A quarter of the 651 ABC1 adults aged 25-64 surveyed have said they would look for information online, ahead of a bank or building society (22%), a high street IFA (20%), friends or family (16%) or the Yellow Pages (1%).
David Elms, chief executive of IFA Promotion says the results are further evidence of consumers turning to the internet to research finances, just as they would for holidays or jobs.
“The fact that potential customers are doing their initial research online should come as no great surprise to IFAs. After all, it is exactly where most IFAs would go to gather their own information,” he says.
Elms adds his organisation remains “baffled” by the 40% of its own members who are yet to list websites “most of whom won’t even have one.”IFAonline
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