Despite fears the new legislation would lead to people being priced out of the market, investors sought more advice in the first four months of the year than during the same period last year according to site Unbiased.co.uk.
The number of consumers seeking advice increased 9% over the period, with pensions, investments and tax planning being the top three areas in which they are keen to seek more clarity.
At the same time, there has been greater incidence of investors shopping around and comparing the various pricing propositions on offer, and evidence they are seeking advice that fits their needs more closely.
Karen Barrett, chief executive of ubnbiased.co.uk, said: “Advice has never been free and the new regulatory environment has definitely created a more level playing field between bank advisers offering advice and the advisers we list on our site. We’re now seeing people actively shopping around, comparing advice offerings and costs, to find the best adviser for their circumstances and needs. Advisers in return are fine-tuning their propositions to appeal to the type of clients that are right for their business.”
The not-for-profit site was caught up in a dispute with a rival site earlier in the year following a change in its pricing policy.
