Pension and mortgage issues are the most common enquiries from people accessing a generic financial advice pilot scheme, according to the Citizens Advice Bureau (CAB) Moneyplan project.
The project, run alongside the Thoresen Review into generic financial advice, was run by 30 CAB offices with around 38 IFAs volunteering their time to help people with their finances. The first year of the project has found that 73% of those using the service are aged over 50, and most have never spoken with an IFA before. As a result of the high age of consumers seeking advice, many of the queries related to retirement planning and endowment mortgages. The pilot also found 50% of those using the service were retired or work part time, while 75% owned their own home. The CAB notes that ma...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
