Two-thirds of people in Britain are using their friends and family to recommend financial advisers, claims Birmingham Midshires. According to its research, when seeking advice with finance, 63% use personal recommendations, 44% look for Government regulation and 38% go by the years of experience the adviser has. Tim Hague, managing director of mortgages at Birmingham Midshires, claimed that using an independent financial adviser is vital to navigate through the hundreds of products on the market. “While it is good to get a steer from friends or family on where to go for financial advice, their financial needs may have been very different,” he explained. According to Mr Hague, seeking a specialist IFA will be beneficial for a consumer as they are more qualified to meet their exact needs.
Friday, 7 December 2007
Two thirds go to friends and family for advice
Two-thirds of people in Britain are using their friends and family to recommend financial advisers, claims Birmingham Midshires. According to its research, when seeking advice with finance, 63% use personal recommendations, 44% look for Government regulation and 38% go by the years of experience the adviser has. Tim Hague, managing director of mortgages at Birmingham Midshires, claimed that using an independent financial adviser is vital to navigate through the hundreds of products on the market. “While it is good to get a steer from friends or family on where to go for financial advice, their financial needs may have been very different,” he explained. According to Mr Hague, seeking a specialist IFA will be beneficial for a consumer as they are more qualified to meet their exact needs.
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