Most stock market investors prefer to scour opportunities on the Internet than seek professional financial advice, research suggests.
According to a Prudential report, 65% of investors ignore the benefits of advice and rely instead on Internet research and media reports.
Just 16% seek the guidance of an IFA, 4% consult a stockbroker and 10% approach bank or building society in-house advisers.
"While not everyone is fortunate enough to have spare funds to save or invest, many people do and it is staggering how few are seeking financial advice or looking to capitalise on the growth potential the stock market has historically offered," Prudential retirement savings business director Trevor Cheal says.
Meanwhile, the Prudential study also suggests more than half of investors (53%) only check share performance every six months, with almost a quarter (22%) admitting they never do.
"Those who invest in the stock market have taken the first important step towards benefiting from the long-term growth of the economy, but they stand a greater chance of maximising its value if they re-evaluate their investment arrangements regularly," Cheal adds.
"However, in volatile markets, investors may not want all their eggs in one basket and multi-asset funds which provide diversification can give them some degree of comfort while still having exposure to the stock market.
"Those who feel they lack the knowledge to manage a diversified portfolio should consider getting professional financial advice from a stockbroker or an IFA."
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