Face-to-face financial advice important, finds Prudential by Finance News Bulletin

Published: 30/11/06

wwwmoneynewscouk > General finance > Face-to-face monetary advice important, finds PrudentialWhile many of today's older consumers be familiar with what the internet can offer in terms of monetary information, it seems human communication 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 goods such as mortgages or investmentsIn contrast, some 71 per cent would favour to receive face-to-face financial advice from a financial advisor, a relations member or a friend, before turning to the internetAli Crossley, manager for lifetime mortgages at Prudential, said: "It is interesting to see that while additional and additional financial services are available to us online, for many people this only provides part of the answer to understanding more about their financial needs"While it is important to have online amenities that provide information on financial products, our research has shown that opposite advice resonates strongly with customers

"It could be this face-to-face move towards to financial preparation that is helping older people to manage their finances so well A new survey by Scottish Widows confirmed that older is wiser when it comes to handling moneySome 61 per cent of over-55s said they feel financially ready, while 73 per cent of 18 to 24-year-olds said they terror

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