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Public&#39s trust in advisers is rising, says poll

Trust in financial advisers is improving, with only 9 per cent saying they do not trust their advice compared with 15 per cent last year.

According to Alliance & Leicester&#39s wealth tracker index, the number of people who find financial advice patronising has halved since last year to 5 per cent from 10 per cent.

The survey has also found an increased acceptance of paying fees for advice, with just 11 per cent of those questioned saying fees are an annoyance compared with 16 per cent in 2001.

People are showing more interest in the management of their money and consumers are also growing more comfortable with investments as a long-term proposition, with only 12 per cent stating that having to lock away money for years would deter them from making an investment decision compared with 21 per cent previously.

Products are still seen as complicated although the proportion of people who says they are put off by product complexity has fallen to 19 per cent from 31 per cent.

The wealth tracker index questioned a UK representative sample of 2,000 people about what annoys them most when making investment decisions.

Marketing manager Simon Ripton says: “These figures suggest that consumers are finally waking up to the need to plan early and set aside money for their future.

“It appears that consumers are perhaps managing their debt more prudently by becoming better educated in broader financial matters.”


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