Parents and partners, not professionals, are increasingly the first point of call for financial advice, according to new research.
Just 8% of people who responded to the survey from Friends Life said they would seek an IFA to guide them on financial matters. This compared with a third (31%) trusting parents for financial advice with a similar number (27%) choosing their partner's assistance. However the research indicates that it may not be the cost of advice that is shying people away from contacting an IFA. The insurer said there was ‘an encouragingly strong showing in favour of paying for financial advice' with (31%) saying financial advice should be paid for compared to similar figures for accountancy (34%...
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