Independent Financial Advisers are in high demand according to the Independent Financial Adviser lobby group IFAP – Independent Financial Adviser Promotions. The number of people seeking independent advice has reached record levels in the first quarter of the calendar year. Almost 16,300 requests were made between January and March 2007, an increase of around 1,300 in the same period last year.
The top ten requests saw advice on personal retirement planning, with 32per cent of enquiries. Next was investment and savings at 23per cent and last in the top ten was investment advice for children and equity release. The increase in people seeking financial advice has been put down to people wanting to take charge of their finances in the New Year.
Our view
Finance is becoming more and more complex and as the finance industry becomes more professional, so the public starts to recognise the value that a quality adviser can add.