More affluent people feel confident enough to use the internet and call centres for their financial affairs than rely on an IFA, according to a survey from market intelligence provider Key Note.
The survey of 1,007 adults reveals 51% of respondents in the A social grade feel confident call centre staff can handle their financial affairs and 46% are happy using the internet for financial matters.
Conversely, just 36% of affluent people said they rely on IFAs as a distribution route for organising their financial affairs, while 41% said they rely on banks and 23% said they rely on building societies.
The survey also reveals 36% of people in the B social grade, 27% in the C grade, 26% in the D grade and 29% in the E grade rely on IFAs.
Respondents in the D and E social grades were more likely to rely on an IFA than use the internet, as only 26% in the D grade and 22% in the E grade said they were happy using the internet for financial matters.
On a regional basis, IFAs are most popular for organising financial affairs among respondents in the East Midlands, at 42%, and least popular in Yorkshire and Humberside, at 22%.
Men (33%) are more likely than women (26%) to rely on an IFA, while adviser popularity is greatest among respondents aged between 45 and 64, at 31%, and lowest among those aged 65 and over, at 24%.
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