View more on these topics

Axa taking families down advice avenue

Aim of the year-long experiment is to show effect of financial education

Axa is running a year-long social experiment into financial advice, putting a group of households under the microscope with half given expert advice and half left to their own devices.

The project, called Axa Avenue, takes place in Brighton and aims to show the effect of financial education and advice in tackling the UK’s savings problems.

Twenty households living in the same community and covering all parts of the financial spectrum have been chosen by Axa as representative of UK society.

Results of the experiment will come in the form of regular financial well-being comparisons and Axa hopes they will provide an insight into how the nation handles its finances.

Last year’s Woman IFA of the Year award winner Saran Allott-Davey will be comp-aring the households thr- ough the year. She has carr- ied out a complete review of each household’s finances.

She has assessed total debt, amount of insurance and protection cover, long-term saving and pensions in place and amount saved each month as a starting benchmark to monitor any changes through the year.

Allot-Davey says: “Many regard finance matters as dull and boring and never talk about money, even to their partners. For most people, getting professional financial advice has not been on the radar. I am looking forward to working with the Axa Avenue households and seeing attitudes changing.”

One of the participants, customer relations manager Kay Doherty, says: “Working with a professional financial adv-iser is going to give me an insight into managing my money that I would never have been able to access normally. I am looking forward to feeling less anxious about my financial responsibilities.”


Blunkett bows out with bid to boost women’s pensions

The historical pension divide based on gender must be brought to an end through the forthcoming pension reforms, says a Department for Work and Pensions report. The Women and Pensions report was the brainchild of former Work and Pensions Secretary David Blunkett and was published on Wednesday last week – the day he resigned from […]

Confusion on Select Choice

Last week’s issue of Money Marketing wrongly suggests that I was disparaging about the Select Choice proposition from Barclays. I think the confusion arises from questions at a conference held in May. As I recall, I made the point that a risk of some multi-tie propositions was that the intermediary would not keep under review […]

Safety net to pay just 21%

Transfer analysis shows that investors face massive losses in calls on Pension Protection Fund


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm