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IFAP urges public to seek advice as report shows one-third have no savings

IFA Promotion is urging consumers to book a financial healthcheck with an IFA after its research revealed that a third have no savings.

The report – Get Saving! – shows a chasm between the rich and poor in the UK, with vast inequality in the ownership of £2.7trn in personal assets.

IFAP says 10 per cent of people own 54 per cent of the country&#39s wealth. Fifty-seven per cent have no more than £1,500 in savings.

But IFAP calculates that people from both ends of the socio-economic spectrum need to save more – 77 per cent of those on lower-than-average incomes and 57 per cent of those on above-average incomes.

The report was prepared by RAKM using Government and industry data alongside a face-to-face consumer research of 4,022 UK adults in September last year.

Chief executive David Elms says: “Fallen stockmarkets and low savings rates on offer from banks and building societies may well be putting many people off making greater provision for their futures. However, our report makes clear just how few people currently have what financial experts consider an adequate savings safety net. We are urging people who do not have enough set aside or are not sure if they have to speak to an IFA and take advice on their long-term savings options.”


C&G rolls out fixed-rate bond

Cheltenham & Gloucester is launching a two-year fixed rate bond paying 4 per cent per annum gross until April 2005. The interest is paid on any investment over £500. Any additions can be made as long as the bond is open to new investors. For investors needing to access their investment urgently there is a […]

Omo concerns after Pru and Zurich link-up

Prudential and Zurich Financial Services have signed a five-year deal which will see Zurich Advice Network customers being offered a Pru annuity on retirement. Under the deal, policyholders receiving advice from Zurich&#39s 3,500 strong tied network will be offered a Pru annuity once FSA depolarisation plans are finalised. IFAs have attacked the deal, saying it […]

Bristol & West – Guaranteed FTSE Bond

Monday, 27 January 2003 Type: Guaranteed equity bonds Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £2,500-£1m Term: Three or five years Guarantee: Capital returned in full regardless of the performance of the index Return: Up to 100% of growth Closing date: April 5, 2003 Commission: Initial 2.5% Tel: 0845 […]

Executive stress

I recently “celebrated” 40 years in the industry. During that time, there have been massive changes, of course, the main one being the move away from a desire to provide the best service in the industry to a desire not to be the worst. Despite being in charge of my own business, I have never […]

Welcome to The Brunner Investment Trust PLC

Welcome to the latest update for The Brunner Investment Trust PLC from the trust’s portfolio manager Lucy Macdonald. Market Review Global equities ratcheted higher throughout February, buoyed by optimism about global growth and corporate earnings. All regions advanced, although Japan tended to lag many other markets. In sector terms, healthcare, information technology, consumer staples and […]


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