Trust and cost are the two main barriers stopping the over 50s from seeking financial advice on their retirement income, research by Retirement Advantage has found.
The report Retirement Sentiment Index: Expanding Horizons found more than two-fifths (42%) of the over 50s not planning to use an adviser said they were put off by cost, up from 38% last year. Although trust in the profession has improved over the past year, it is still a significant barrier, according to Retirement Advantage. In 2016, 38% of respondents said they did not trust advisers compared with 31% who said trust was an issue in 2017. Meanwhile, 31% did not deem consulting a professional adviser as necessary, while almost a fifth (18%) believed it would not be of any benefit. So...
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