Eight reasons people don't seek financial advice

Factors that prevent many people from seeking advice

Laura Miller
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The Financial Conduct Authority (FCA) has disclosed what it thinks are the eight main reasons people are prevented from seeking financial advice...

As the FCA digs into the Financial Advice Market Review (FAMR), it has come up with a list of reasons it believes stop many people from seeking advice. These are likely to be particularly significant in relation to professional advice, it said. The eight main reasons according to the FCA are: 1 Price Consumers may view the price for advice, particularly for professional, face-to- face advice, to be too high. A survey by unbiased.co.uk found that consumers are paying an average hourly rate of £150 for professional, regulated advice (though this represents a 14% drop compared to 2...

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