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Britons want more money advice for key moments in life


A survey by the charity Citizens Advice found that 49% of people questioned would have taken advice about their finances when they were going through big life changes if they had been offered it – such as buying a house, having a baby, suffering a bereavement or getting divorced.

The findings were made in a report, in which Citizens Advice argues that a range of people are missing out on the benefits of money advice which could help prevent them falling into financial problems as they adjust to their new circumstances.

More than a third (35%) of people would have liked money advice when they started working or changed jobs, while more than one in four (28%) would have appreciated advice when they moved home. The Citizens Advice report included all types of money tips – from regulated independent financial advice to general money guidance.

A consultation into how financial advice could be made to work better for consumers was launched by the Financial Conduct Authority (FCA) and the Treasury in October.

It will look at how advice gaps in the market can be bridged – as well as what role new “robo advice” technology could have in making it easier for people to access financial advice in a way that suits their needs. More than 2,000 people were surveyed for the findings.

Source: www.business-reporter.co.uk

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