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IFAs hit back at &#39less trustworthy&#39 jibe


Yawning IFAs are congratulating financial research internet firm The Motley Fool for aptly naming itself following its claim IFAs are less trustworthy than bookies.


The survey, by ICM, asked 1,000 people if they trust bookmakers to give fair odds and if estate agents operate in the clients best interests.


After telling interviewees IFAs receive commission it asked: &#34Would you trust an independent adviser paid on commission to give you independent advice and impartial advice?&#34


Just 28 per cent trusted IFAs, the same as bookies and less (45 per cent) than estate agents.


But Aifa says the industry is &#34totally exasperated&#34 with research firms &#34manipulating surveys in a bid to grab cheap headlines&#34.


Aifa says the research uses leading questions and is obsessed by the remuneration packages IFAs receive.


IFA Michael Philips partner Michael Both says: &#34Unfortunately we live in a whingeocracy. IFAs do a jolly good job against inumerable odds.&#34


In the spirit of the research Money Marketing is offering a bottle of champagne to the IFA supplying with the best joke about market researchers. e-mail the editor at stevemc@chiron.co.uk. Those wishing to share their entries with the Motley Fool can post them on its message boards at www.fool.co.uk.

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