No Advice Pensioners Get Poorer
Published / Last Updated on 15/10/2014
No Advice Pensioners Get Poorer
According to life assurer MGM, retired people are twice as likely to be forced to downsize if the have never sought independent financial advice. Results from a wide-ranging survey revealed a clear link between financial wellbeing and using an IFA.
Not only were retired people less likely to have to sell their assets if they consulted and IFA, but they were four times more likely to have to return to work to make ends meet if they had never used an IFA, than if they had.
The results also showed interesting regional and gender trends, with Liverpudlians being the most likely to be frequent visitors to IFA offices, with 11 per cent speaking to their IFA regularly. People from Liverpool were also found to be the most knowledgeable on financial terms.
Our view
If you need a brick wall building, see a builder; if you need brain surgery, go to hospital; if you want to make money, save money and pay less tax, contact us.
Useful links:
Learn more about Pensions Advice and related topics in the Pensions Adviser Channel
Request expert financial advice now
Purchase guidance on financial planning in the Money Shop
Useful links:
