[PRESSWIRE] LONDON, May 4, 2017 -- CISI survey reveals consumer lack of trust and confusion re accessing money help on the run up to UK Financial Planning Week 8 May.
41% of the UK public say they would trust a qualified financial adviser when seeking financial advice but only 7% would trust their bank for advice, says a Chartered Institute for Securities & Investment (CISI) survey.
The survey*, commissioned by the CISI and undertaken by YouGov, asked the question: "In seeking financial advice, who would you trust more?" Of those who responded:
41% said "a qualified financial adviser"
26% said "no-one else but trust yourself"
22% said "would trust a good friend or relative"
7% said they would trust their bank
(other data percentage can be added upon request)
In addition, when asked "Before seeking financial advice from a financial or wealth manager, which of these would you do?" the responses were:
30% were not sure what to do
28% would seek confirmation from another client
25% would seek confirmation from the Regulator
25% would seek confirmation of qualifications from the Awarding body
This question allowed participants to choose a combination of responses.
The findings have been released ahead of the CISI's annual Financial Planning Week,
"The initiative takes place for the week of 8 May and is being led by over 80 national firms of CERTIFIED FINANCIAL PLANNERTMprofessionals, alongside with other CISI qualified professionals, by offering free financial planning sessions, worth up to £500, either in person, via skype or over the phone. The website for consumers to book a free financial planning session is Cisi.org/fpweek, email firstname.lastname@example.org or call 020 7645 0708."
Jacqueline Lockie, Deputy Head of Financial Planning at the CISI said: "The survey findings show there's a lot to be done to build trust in financial advice and planning in the minds of consumers. These findings also indicate that consumers are unsure what to do when seeking advice - our ten questions to ask a financial planner will help greatly with this.
For further information on the Chartered Institute for Securities & Investment contact
Lora Benson +44-20-7645 0662/ +44-7801-521034 email@example.com