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Clients seeking more protection

Fears of global recession and the threat of international terrorism are affecting consumers&#39 product purchases, according to IFA network IN-Partnership.

The 200-RI network carried out research among its members into how their business has changed since the terrorist attacks in New York on September 11.

According to IN-Partnership, 56 per cent of members have seen increased sales of protection products and lower-risk investments such as bond and investment funds with guarantees.

Sixty per cent of members said their clients are increasingly worried about their financial future, while 58 per cent say their clients believe a global recession is looming.

On-Line Partnership, which trades as IN-Partnership Group, chief executive Kevin McDonagh says: “People have been deeply shaken by recent events and all our research shows the effects of September 11 will be felt for some time.

“Savers are turning to their IFAs for truly independent financial advice. They are being more prudent in their product selection and thoughtful in their deliberations.

“IFAs are a financial shoulder for investors to lean on during good times and bad.”


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