Consumers 'baffled' by investments and pensions - Defaqto

The firm says around 38% of people claim to understand investment, pension and protection products well while more are confused by the range of choices offered them, which for investments alone include around 1,600 unit trust and OEIC funds. The lack of understanding is prompting a rush to independent financial advisers, Defaqto claims with some 6.2m people planning to visit an IFA over the next 12 months. But while the benefit of seeking independent advice appears to be understood by consumers there is a split between how much and in what way consumers are willing to pay. Defaqto claim...