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Have you ever used financial advice for investing? Here's how readers voted
Have you ever used financial advice for investing? Here's how readers voted

Yahoo

time23-05-2025

  • Business
  • Yahoo

Have you ever used financial advice for investing? Here's how readers voted

A survey from the UK's Financial Conduct Authority (FCA) found that 8.6% of adults had received regulated financial advice on investments, pensions or retirement planning in the past year. That worked out to the equivalent of 4.6 million UK adults, based on the 17,950 participants in the watchdog's 2024 Financial Lives survey, published last week. This figure was only slightly higher from the 8.3% — the equivalent of 4.4 million adults — that said they had received regulated financial advice in the FCA's 2022 survey. The FCA's survey also found that 39% of UK adults — the equivalent of 21.2 million — held investments in 2024. Excluding those with an investment property or other real investments (such as wine, art or jewellery) but with no other investment products, this proportion fell to 35%, which was down from 37% in 2022. In addition, 61% of adults with £10,000 or more in investible assets held all or at least three-quarters of these assets in cash. Read more: UK 'bargain' stocks that have outperformed the market long-term In the regulator's report detailing the findings from the survey, FCA director for cross‑cutting policy and strategy Charlotte Clark said that the watchdog was "working to reform the regulatory framework for advice and guidance, which will ultimately help consumers have access to the help, guidance and advice that they need, when they need it, at a cost they can afford, to make informed decisions". Tom Selby, head of retirement policy at AJ Bell (AJB.L), said: "Sensible reform in this area is desperately needed to boost access to regulated advice and allow providers to offer more useful guidance to customers. This should in turn result in higher levels of engagement, better financial decisions by savers and ultimately good outcomes – the central aim of the FCA's consumer duty." Earlier this week, we asked Yahoo Finance UK readers if they had ever received financial advice to help with investing. We received 509 votes, with 28% of respondents saying they had, while 65% had not and 7% were unsure. Read more: Bitcoin price hits all-time high above $111,000 UK government borrowing hits £20.2bn in April More interest rate cuts in doubt after surprise inflation surgeSign in to access your portfolio

Have you ever used financial advice for investing? Here's how readers voted
Have you ever used financial advice for investing? Here's how readers voted

Yahoo

time23-05-2025

  • Business
  • Yahoo

Have you ever used financial advice for investing? Here's how readers voted

A survey from the UK's Financial Conduct Authority (FCA) found that 8.6% of adults had received regulated financial advice on investments, pensions or retirement planning in the past year. That worked out to the equivalent of 4.6 million UK adults, based on the 17,950 participants in the watchdog's 2024 Financial Lives survey, published last week. This figure was only slightly higher from the 8.3% — the equivalent of 4.4 million adults — that said they had received regulated financial advice in the FCA's 2022 survey. The FCA's survey also found that 39% of UK adults — the equivalent of 21.2 million — held investments in 2024. Excluding those with an investment property or other real investments (such as wine, art or jewellery) but with no other investment products, this proportion fell to 35%, which was down from 37% in 2022. In addition, 61% of adults with £10,000 or more in investible assets held all or at least three-quarters of these assets in cash. Read more: UK 'bargain' stocks that have outperformed the market long-term In the regulator's report detailing the findings from the survey, FCA director for cross‑cutting policy and strategy Charlotte Clark said that the watchdog was "working to reform the regulatory framework for advice and guidance, which will ultimately help consumers have access to the help, guidance and advice that they need, when they need it, at a cost they can afford, to make informed decisions". Tom Selby, head of retirement policy at AJ Bell (AJB.L), said: "Sensible reform in this area is desperately needed to boost access to regulated advice and allow providers to offer more useful guidance to customers. This should in turn result in higher levels of engagement, better financial decisions by savers and ultimately good outcomes – the central aim of the FCA's consumer duty." Earlier this week, we asked Yahoo Finance UK readers if they had ever received financial advice to help with investing. We received 509 votes, with 28% of respondents saying they had, while 65% had not and 7% were unsure. Read more: Bitcoin price hits all-time high above $111,000 UK government borrowing hits £20.2bn in April More interest rate cuts in doubt after surprise inflation surge

Have you ever used financial advice for investing? Vote in our poll
Have you ever used financial advice for investing? Vote in our poll

Yahoo

time19-05-2025

  • Business
  • Yahoo

Have you ever used financial advice for investing? Vote in our poll

A survey from the UK's financial watchdog found that 8.6% had received regulated financial advice on investments, pensions or retirement planning in the last 12 months. That worked out to the equivalent of 4.6 million UK adults, based on the 17,950 participants in the Financial Conduct Authority's (FCA) 2024 Financial Lives survey, which was published on Friday. This figure was only slightly higher from the 8.3% — the equivalent of 4.4 million adults — that said they had received regulated financial advice in the previous year, in the FCA's 2022 survey. Meanwhile, three in eight (37%) UK adults used information or guidance in the last 12 months to help make decisions about investments, saving into a pension or retirement planning, according to the survey. The most common sources included government‑backed services like Citizens Advice, MoneyHelper and Pension Wise (17%) and private sector money advice websites (15%). Focusing on investments specifically, the FCA's survey found that Google (GOOG) search remained the most commonly-used source of information — used by 29% of investors in the past 12 months. That was followed by private sector money advice websites (24%), family or friends (22%) and a financial adviser, accountant, stock-broker or other financial professional (21%). Read more: Stocks to watch this week: Palo Alto Networks, Analog Devices, Marks & Spencer, Greggs and easyJet The survey also found that 39% of UK adults — the equivalent of 21.2 million — held investments in 2024. Excluding those with an investment property or other real investments (such as wine, art or jewellery) but with no other investment products, this proportion fell to 35%, which was down from 37% in 2022. In addition, 61% of adults with £10,000 or more in investible assets held all or at least three-quarters of these assets in cash. Chris Cummings, CEO of trade body the Investment Association, said: "We must create a culture of inclusive investment that educates and encourages people across the country to make financial decisions that benefit them both now and for the long-term. "This includes looking at options for ISA reforms to better support long-term investment, improving access to financial advice and modernising the retail disclosure framework to shift the focus from warning to informing and empowering consumers." Have you ever received financial advice to help with investing? Vote in our poll below. Yahoo UK's poll of the week lets you vote and indicate your strength of feeling on one of the week's hot topics. After the poll closes, we'll publish and analyse the results each Friday, giving readers the chance to see how polarising a topic has become and if their view chimes with other Yahoo UK readers. Read more: Five 'buy' rated European travel stocks UK economy grows 0.7% in first quarter of the year Savers making costly 'bad decisions' around pensions as 15 million risk retirement povertySign in to access your portfolio

Have you ever used financial advice for investing? Vote in our poll
Have you ever used financial advice for investing? Vote in our poll

Yahoo

time19-05-2025

  • Business
  • Yahoo

Have you ever used financial advice for investing? Vote in our poll

A survey from the UK's financial watchdog found that 8.6% had received regulated financial advice on investments, pensions or retirement planning in the last 12 months. That worked out to the equivalent of 4.6 million UK adults, based on the 17,950 participants in the Financial Conduct Authority's (FCA) 2024 Financial Lives survey, which was published on Friday. This figure was only slightly higher from the 8.3% — the equivalent of 4.4 million adults — that said they had received regulated financial advice in the previous year, in the FCA's 2022 survey. Meanwhile, three in eight (37%) UK adults used information or guidance in the last 12 months to help make decisions about investments, saving into a pension or retirement planning, according to the survey. The most common sources included government‑backed services like Citizens Advice, MoneyHelper and Pension Wise (17%) and private sector money advice websites (15%). Focusing on investments specifically, the FCA's survey found that Google (GOOG) search remained the most commonly-used source of information — used by 29% of investors in the past 12 months. That was followed by private sector money advice websites (24%), family or friends (22%) and a financial adviser, accountant, stock-broker or other financial professional (21%). Read more: Stocks to watch this week: Palo Alto Networks, Analog Devices, Marks & Spencer, Greggs and easyJet The survey also found that 39% of UK adults — the equivalent of 21.2 million — held investments in 2024. Excluding those with an investment property or other real investments (such as wine, art or jewellery) but with no other investment products, this proportion fell to 35%, which was down from 37% in 2022. In addition, 61% of adults with £10,000 or more in investible assets held all or at least three-quarters of these assets in cash. Chris Cummings, CEO of trade body the Investment Association, said: "We must create a culture of inclusive investment that educates and encourages people across the country to make financial decisions that benefit them both now and for the long-term. "This includes looking at options for ISA reforms to better support long-term investment, improving access to financial advice and modernising the retail disclosure framework to shift the focus from warning to informing and empowering consumers." Have you ever received financial advice to help with investing? Vote in our poll below. Yahoo UK's poll of the week lets you vote and indicate your strength of feeling on one of the week's hot topics. After the poll closes, we'll publish and analyse the results each Friday, giving readers the chance to see how polarising a topic has become and if their view chimes with other Yahoo UK readers. Read more: Five 'buy' rated European travel stocks UK economy grows 0.7% in first quarter of the year Savers making costly 'bad decisions' around pensions as 15 million risk retirement poverty

Have you ever used financial advice for investing? Vote in our poll
Have you ever used financial advice for investing? Vote in our poll

Yahoo

time19-05-2025

  • Business
  • Yahoo

Have you ever used financial advice for investing? Vote in our poll

A survey from the UK's financial watchdog found that 8.6% had received regulated financial advice on investments, pensions or retirement planning in the last 12 months. That worked out to the equivalent of 4.6 million UK adults, based on the 17,950 participants in the Financial Conduct Authority's (FCA) 2024 Financial Lives survey, which was published on Friday. This figure was only slightly higher from the 8.3% — the equivalent of 4.4 million adults — that said they had received regulated financial advice in the previous year, in the FCA's 2022 survey. Meanwhile, three in eight (37%) UK adults used information or guidance in the last 12 months to help make decisions about investments, saving into a pension or retirement planning, according to the survey. The most common sources included government‑backed services like Citizens Advice, MoneyHelper and Pension Wise (17%) and private sector money advice websites (15%). Focusing on investments specifically, the FCA's survey found that Google (GOOG) search remained the most commonly-used source of information — used by 29% of investors in the past 12 months. That was followed by private sector money advice websites (24%), family or friends (22%) and a financial adviser, accountant, stock-broker or other financial professional (21%). Read more: Stocks to watch this week: Palo Alto Networks, Analog Devices, Marks & Spencer, Greggs and easyJet The survey also found that 39% of UK adults — the equivalent of 21.2 million — held investments in 2024. Excluding those with an investment property or other real investments (such as wine, art or jewellery) but with no other investment products, this proportion fell to 35%, which was down from 37% in 2022. In addition, 61% of adults with £10,000 or more in investible assets held all or at least three-quarters of these assets in cash. Chris Cummings, CEO of trade body the Investment Association, said: "We must create a culture of inclusive investment that educates and encourages people across the country to make financial decisions that benefit them both now and for the long-term. "This includes looking at options for ISA reforms to better support long-term investment, improving access to financial advice and modernising the retail disclosure framework to shift the focus from warning to informing and empowering consumers." Have you ever received financial advice to help with investing? Vote in our poll below. Yahoo UK's poll of the week lets you vote and indicate your strength of feeling on one of the week's hot topics. After the poll closes, we'll publish and analyse the results each Friday, giving readers the chance to see how polarising a topic has become and if their view chimes with other Yahoo UK readers. Read more: Five 'buy' rated European travel stocks UK economy grows 0.7% in first quarter of the year Savers making costly 'bad decisions' around pensions as 15 million risk retirement povertyError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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