NS&I Backs Gold Standard of Advice

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One of the largest savings organisations in the UK, NS&I today announced its support for unbiased.co.uk, which helps to put hundreds of thousands of consumers in touch with an IFA each year. The backing from NS&I is further recognition of the importance of seeking independent professional advice with long-term financial planning.

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Demand for professional advice on savings and investments has seen a strong start to the year. Unbiased.co.uk’s latest Advice Drivers report shows that nearly one in four of the total number of enquiries (24%) were for an IFA specialising in this particular area, in February and March this year. Data from NS&I also shows that consumers have been taking savings action – its Savings Survey* shows a rise in the amount savers are putting aside each month, with the average Brit now putting away £95, the highest amount recorded since spring 2011.

John Prout, Retail Customer Director of NS&I said: “At NS&I we are acutely aware of our importance to millions of savers, many of whom are also long-standing clients of IFAs. We are also very mindful of the important changes taking place in the intermediary market, and we see the relationship with unbiased.co.uk as a natural next step in responding to future developments.”

Karen Barrett, Chief Executive of unbiased.co.uk said: “We are in an age where saving and investing for the long-term has to be part of the norm. Consumers cannot afford to ignore the realities which now face us; higher life expectancies and smaller pension pots are just some of these increasing pressures and it’s time for us to take action. Saving needs to become a positive habit and it’s encouraging to see that NS&I’s latest data reveals a rise in the level of savings.
“Our long-standing campaign has always been to raise consumers’ awareness of the key issues affecting their personal finances and to highlight the importance and value of seeking professional financial advice; we are extremely grateful for NS&I’s support which will enable us to continue doing this.”
Unbiased.co.uk is now in its 23rd year and each year fulfils around 450,000 consumer requests for details of local IFAs, and with the help of its media IFAs has generated more than 7,000 positive pieces of media coverage over the last year alone. Its ‘find an IFA’ search has white label versions on over 60 partner websites and media portals, promoting the benefits of independent financial advice to the consumer.

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