Financial advisers most trusted advice source for millionaires

Independent financial advisers are the most trusted source of advice for millionaires, according to a survey by Skandia. The firm questioned over 500 UK millionaires on various financial topics. Over a third of people surveyed trusted a financial adviser to handle their money, give them good advice and help them meet financial goals. This figure had increased from the last survey which was conducted in June 2011. Least trusted were tied advisers and the Government. Graham Bentley, Skandia UK head of investment strategy, said: “The use of financial advisers by the UK’s wealthiest demographic demonstrates there is a continued desire for quality investment and Financial Planning advice. “With the upcoming regulatory changes affecting the financial landscape it is encouraging to see that high net worth and influential customers recognise and value the importance of seeking financial advice from qualified advisers.” However, the report was not all positive as it found almost half of UK millionaires would consider moving away due to discontent about government economic policies, increasing cost of living and high taxation. The most common destination for those leaving the UK was the USA or Spain. Local economic uncertainty, stock market crash and the breakdown of banks were viewed as the main threats to wealth. • Want to receive a free weekly summary of the best news stories from our website? Just go to home page and submit your name and email address. If you are already logged in you will need to log out to see the e-newsletter sign up. You can then log in again.

Financial advisers most trusted advice source for millionaires

Related items