Face-to-face financial advice important, finds Prudential

www.moneynews.co.uk > General finance > Face-to-face financial advice important, finds Prudential

Face-to-face financial advice important, finds Prudential

Wed 29th Nov 2006

While many of today's older consumers recognise what the internet can offer in terms of financial information, it seems human interaction is still preferable when looking for advice on financial matters.

According to Prudential, just 24 per cent of people over 50 would choose the internet as a first port of call to research financial products such as mortgages or investments.

In contrast, some 71 per cent would prefer to receive face-to-face financial advice from a financial advisor, a family member or a friend, before turning to the internet.

Ali Crossley, director for lifetime mortgages at Prudential, said: "It is interesting to see that while more and more financial services are available to us online, for many people this only provides part of the solution to understanding more about their financial needs.

"While it is important to have online facilities that provide information on financial products, our research has shown that face-to-face advice resonates strongly with customers."

It could be this face-to-face approach to financial planning that is helping older people to manage their finances so well. A recent survey by Scottish Widows confirmed that older is wiser when it comes to handling finances.

Some 61 per cent of over-55s said they feel financially prepared, while 73 per cent of 18 to 24-year-olds said they fear for their financial future.

Related News : General finance
	Citizens Advice welfare applauds government
	Confused.com energy defends British Gas
	Bank of Ireland passes stress test
	Tesco Mobile deal 'courts consumers'
	Scottish Widows Investment Partnership notes favourable response
	Customers should fix now, says moneysupermarket.com energy
	Confused.com highlights importance of getting the best deal
	Prices on the rise, says moneysupermarket.com energy
	Bank of Scotland economic report 'suggests transitional phase'
	Clydesdale and Yorkshire Banks security advice issued

Related News : Prudential
	One third of workers have no pension, claims Prudential
	Falls in the stock market 'will not affect some retirement savings'
	Pensioners 'to lose millions in spending power over next 12 months'
	Prudential supports government pensions calculator move
	Prudential notes pensions calculator pattern
	State pension 'may not be enough to retire comfortably'
	Prudential warns that retirees could face a life below the poverty line
	Prudential highlights retirement calculator trend
	Prudential notes growing pensions calculator trend
	Prudential notes gender gap in pensions calculator in 2010