Financial advisers are the most trusted source of retirement advice, according to Defaqto, just beating friends and family for the third year running.
When asked who they would trust the most to help them plan their retirement, nearly a third of people surveyed by Defaqto say an IFA would be their main port of call.
In 2009, 30% of respondents say they would most trust a financial adviser when it came to retirement planning, while 28% would ask friends or family.
Meanwhile, the number of people who would trust their own judgement has sharply declined, down from 27% in 2007 to just 20% this year.
However, less than a quarter of people have sought retirement advice from an IFA, Defaqto's survey suggests.
Matt Ward, wealth management consultant at Defaqto, says: "A core aim of the RDR is to make financial advice more accessible to a wider range of consumers. The acid test will therefore be to see whether consumer engagement with the advice sources made available by RDR increases.
"This will only be achieved if the industry can meet the challenge of delivering innovative advice solutions through the guided sales and money guidance channels."
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