Demand for advice on ISAs hits record levels

Demand for independent advice on ISAs, protection products and personal stakeholder pensions has increased rapidly during the first quarter of 2007, reports Unbiased.co.uk, the website promoting the benefits of independent financial advice.

Consumer demand for advice on ISAs rose by over 1,000 requests (representing an 8% increase) between January and March 2007 relative to the same period – more commonly known as “ISA season” - last year.

Unbiased.co.uk’s Advice Drivers report also reveals that the site received a record total of nearly 150,000 requests for details of local IFAs between January and March 2007, broadly driven by increased consumer demand for advice on ISAs but also by more requests for IFAs advising on protection products and personal pensions.

The report is compiled on a quarterly basis from comprehensive data collected as a result of individual consumer selections made when requesting details of a local IFA through Unbiased.co.uk. This data reveals that the proportion of consumer enquiries requesting advice on ISA planning alone increased to a record high of almost 16,300 requests between January and March of this year – up from just 15,000 during the same period last year.

David Elms, Chief Executive of Unbiased.co.uk, commented: “Once again, the first quarter of the calendar year has proved most popular for consumers demanding independent financial advice, sparked by New Year’s resolutions and a desire to take control of their finances as the end of the Tax Year approaches. It’s interesting to see that with the recent media debate over the pros and cons of ISA uptake, record numbers of consumers are now searching for local IFAs to discuss their individual situations – particularly with regards to ISAs. From Unbiased.co.uk’s perspective it’s reassuring to know that many more consumers are ensuring they get the best possible advice by going to see an IFA.”