Investors favour independent advice

A SURVEY which shows almost two-thirds of investors prefer to get financial advice from an independent broker rather than from financial institutions themselves has been warmly welcomed by the Irish Brokers Association (IBA).

The survey, conducted for Standard Life by Millward Brown IMS shows that some 60% of investors would prefer to get advice from an independent broker while only 28% said that they would prefer to deal directly with a financial institution.

Only 3% of the 1,000 respondents said they would invest in a managed fund or take out a pension online without first talking to an adviser.