Mike Morrison, head of pensions development, AXA Wealth, comments on the findings from the FSA’s Consumer Awareness Survey.
“The FSA’s Consumer Awareness Survey demonstrates a worrying lack of consumer investment risk appetite. From our own research, the AXA Wealth Self report, we know that consumers are in need of professional financial advice, as there is a high chance that if their risk profile is not accurately understood, they will be ‘disconnected’ (see a difference between what they believe their risk appetite to be compared to what it actually is), and may end up with a portfolio that is at the wrong end of the risk-return spectrum.
“With interest rates low and forecast to remain so for some time, it’s imperative that consumers remain invested in the market, but an ongoing dialogue with their adviser is critical to help avoid any knee-jerk decisions.”
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