72% desert professional financial advice

72% desert professional financial advice



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In a study of over 2,000 British adults by financial services provider, Axa, it was found that 72% would not want to seek out professional help with their finances. 

58% of those surveyed stated that they would prefer to handle their own finances with help from family, friends and the Internet, rather than seeing an independent financial adviser. 

 

It has been suggested that the uncertainty of the current economic climate has made many people mistrustful of those in financial services.

 

The head of pensions and savings policy for Axa, Steve Folkard has called professional financial advice “essential”, adding: “The financial decisions we make now, be that on investments, borrowing or cutting our monthly budgets could have a significant impact on our current and future financial stability.”

 

Mr Folkard continued, saying: “With the economy in turmoil, a bit of quick fix financial DIY is likely to be as effective as putting a sticking plaster over that hole in the water pipe.”

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