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Two-thirds of consumers prefer to talk to the bank

IFAs are the second most popular choice for people looking to save and invest, reveals a survey by Alliance & Leicester.

In the survey of 2,000 people in the UK carried out this month, IFAs were ahead of fund managers but were behind the high-street banks and building societies.

The survey, timed to coincide with the Government&#39s stakeholder campaign and the Isa season, asked people where they would prefer to put their money if they were looking to save and invest.

The findings revealed 11 per cent of investors favour a visit to an IFA, 4 per cent prefer talking to a fund manager and 67 per cent opt to go a bank or building society.

IFAs were most popular among people in their 40s, with 17 per cent of that age group saying they would go to an IFA when looking to save and invest.

They were least popular among people under 20, with only 5 per cent opting for an IFA. Among the most affluent respondents, 25 per cent said an IFA would be their number one choice compared with 8 per cent opting for a fund manager.

Fund managers failed to make double percentage figures with any group of respondents.

Alliance & Leicester savings product manager Nathan Barber-Kebby says: “The results reveal an overwhelming consumer endorsement for high street convenience and face-to-face service.”

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