A large number of people in the south are facing uncertainty in their retirement as 45% admit they are not confident they have saved enough to live comfortably when they retire. More worrying still, 43% are not currently making contributions of any kind into pension plans – nor are their employers on their behalf.
These shocking results come from a survey commissioned by the Institute of Financial Planning in association with NS&I for the national consumer awareness campaign, Financial Planning Week. Of over 2,000 people surveyed by YouGov across the UK, 1 in 5 in the south (20%) believes they are saving enough for their future needs.
The survey also showed that people in the south are more likely to seek advice about their finances from their family (49%) than from an Independent Financial Adviser (46%). Of those who have sought advice 70% have turned to their family for help in the past 12 months and only 32% to an IFA. But local Chartered Financial Planner Justin King is looking to convince locals of the benefits of working with a professional.
King of Mudeford-based MFP Wealth Management is offering a free retirement review to the first 20 people to apply. “These findings are really quite worrying – the fact that only 4% of people said they will seek professional help to improve their financial position means that they don’t fully appreciate the benefits of working with a financial planner,” said King.
“We’re offering a free initial review of people’s pension and retirement plans to enlighten them about what level of income they will be facing in retirement, based upon their current investments,” continued King. “Then they will be able to take the appropriate steps to improve their circumstances.”
Registration for this offer is available from the beginning of Financial Planning Week, which runs from 21st to 27th November and is designed to raise awareness amongst the general public of the importance of being better organised financially.
As one of the most highly rated adviser firms on Which? Local out of more than 500 listed on the consumer website, MFP Wealth Management is well placed to help enlighten you to what your financial future holds.
To register for your free review visit http://www.mfpwealthmanagement.co.uk/pensionreview or call Justin King on 01425 279212.
To find out more about Financial Planning Week visit www.financialplanningweek.org.uk
Notes to Editors
About MFP Wealth Management
Justin King founded MFP Wealth Management after 20 years in the financial services industry and specialises in offering a rather unique service in the UK of holistic financial life planning. His aim is to inspire, motivate and guide his clients to achieve their chosen lifestyle. As an accredited Chartered Financial Planner and Certified Financial Planner, Justin is also the only Registered Life Planner® in Dorset and Hampshire.
MFP Wealth Management – the only Chartered Financial Planning firm in the Christchurch and Bournemouth area – is located at 88 Mudeford, Christchurch, Dorset, BH23 4AS and can be contacted on 01425 279212 or via email at email@example.com
For more information about MFP Wealth Management visit www.mfpwealthmanagement.co.uk
About the Institute of Financial Planning
The Institute of Financial Planning (IFP) is an independent, not-for-profit professional body. It has over 2000 members and a significant part of its work is to help the general public realise the relevance and importance of Financial Planning within their daily lives. For more information visit www.financialplanning.org.uk
Financial Planning Week, now in its fourth consecutive year, is a generic consumer education and awareness campaign which works to highlight how people can make a difference to their lives by taking some simple steps themselves to plan their finances and take control of their lives as a result. This year, it will take place from 21-27 November. Visit http://www.financialplanningweek.org.ukfor details.
About the Survey. All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2060 adults. Fieldwork was undertaken between the 01st and the 05th of September 2011. The survey was carried out online. The statistics quoted all relate to the southern region.