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Brits Shunning Professional Advice

Brits are shunning the professionals when they find themselves in a sticky financial situation and prefer to follow the advice of well-meaning family and friends.

Many Brits prefer to seek financial, health and career advice from family and friends rather than talk to a professional, a new survey claims.

Some 16 million people turn to their partners in times of financial trouble with a further eight million preferring to help from friends instead of the professionals, according to Alliance & Leicester.

One in six said they said consulting an expert was too expensive when in fact, many companies offer free financial checks.

When it comes to health, 40 per cent of adults shun the doctor's surgery with a quarter choosing to seek advice from their friends and family.

Younger people are worse than their older counterparts at asking the professionals for help with just a third of 18 to 29-year-olds visiting the doctor compared to three quarters of the over-50s.

Only one in ten people seek impartial advice about their career with a quarter managing their decisions about their working life completely on their own.

But more people are also turning to the internet with a third of those surveyed saying there is a wealth of information available at the click of a button and it is less embarrassing than going elsewhere.

Lindsey Henson, Investment & Protection Product Manager at Alliance & Leicester, comments: "It’s natural that people should turn to those closest to them for general advice on life, however it is concerning that they are not turning to the experts for more serious matters such as health and major financial decisions.

"When it comes to our finances, whilst a chat with our partners can help vent any worries and explore our plans, it cannot compare with a structured discussion with a qualified financial adviser."


02/02/2006
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