Pension planning is the main concern for 36% of all consumers who seek independent financial advice, according to the UK advice researcher unbiased.co.uk..
Retirement planning, pension planning, and annuity advice were by far the most popular topics during June 2010, among consumers seeking independent financial advice from financial planners online.
The changes in the June 2010 budget were undoubtedly spurring consumers to think ahead, she said, and reevaluate their financial plan with the help of independent financial advice. “Retirement planning in particular is a vastly complex area and only an independent financial adviser can look at all the factors relevant to an individual and their circumstances and recommend the best solution for them.”
A further quarter of consumers seeking help with their financial plan searched for independent financial advice on savings and investments.
In a sluggish market, mortgages accounted for just 11% of requests for independent financial advice. Within that, for those seeking independent financial advice on homebuying, first time buyer mortgages accounted for 36% of enquiries, while 32% of online enquiries targeted independent financial advice on remortgages.
The value of independent financial advice in building your financial plan was summed up by Karen Barrett, chief executive of unbiased.co.uk.: “Financial advice is an area that can be daunting for consumers, many people who may have previously relied on their bank or building society for product advice are now realising that this didn’t necessarily give them exposure to the best product for their individual circumstances.
Seeking independent financial advice on your financial plan from properly qualified financial planners was ‘an invaluable step in making sure you are getting advice from across the whole of market, with no ties to certain product providers,” she said.
Recent research by Google showed a marked increase in online searches for independent financial advice, which rose by 19% in 2009 alone.
