Friends and family 'are young people's financial advisers'

In a survey of 137 20-30 years olds carried out by communications consultancy MRM, over half (52%) say family and friends are their biggest source of financial advice with a worrying two-thirds (63%) placing IFAs at the bottom of the list when seeking advice. Report author Sarah O' Connell says the findings bring to light a "deep mistrust" of the financial sector by the younger generation that advisers must address. "The next step will be to find out how financial providers can reach out to younger people to bridge the gap between young people's attitudes towards their personal financ...