IFAs called into action to boost flagging saving

The newly launched Financial Reality Index highlights a split between rising consumer spending and worsening financial conditions. The index – based on a 10 year quarterly study of 11 underlying national and domestic financial indicators – shows that while financial conditions are deteriorating for consumers, their spending growth has accelerated to 2.5pc in the last year. The index is based on three sub-groups whose components impact on consumer confidence and therefore willingness to spend. While the Economic Background Index showed GDP growth and labour market strength, the H...