Young people see IFAs as 'cold and bureaucratic'

Young people are particularly averse to financial services because of a lack of engagement with them before the credit crisis and the recession, according to a  report by the ILC. They are also more heavily reliant on the internet for both gathering information and accessing financial services such as online banking than older groups, according to the research. People aged 16 to 24 are far less likely than their elders to take advice on retirement saving from their employers or from IFAs as part of this mistrust, the report Resuscitating Retirement Saving said. "Financial advice fr...