The majority of the population (79pc) seek a second opinion on sorting their finances, with 33pc of this number using an IFA, according to research carried out by Unbiased.co.uk.
The research found that 41pc of those over the age of 55 who have sought advice on money matters have used an IFA. 50pc of respondents intend to fund, or partly fund, their retirement through the state pension, with 40pc using an occupational pension scheme, 25pc using savings accounts and 23pc taking private pensions. Of those currently investing in a private pension, £168 is the average amount invested on a monthly basis, with men contributing more than women (£180 against £155). The most common form of advice on pensions (42pc) was from an IFA. Meanwhile 39pc of the UK populatio...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes