In a recent revelation, Compeer talks about how the demand for financial advice has fallen to great depths in the last four years. In a survey conducted for 2000 people in 2003 and in 2007 again, it is revealed that while 28% regarded their bank as their main financial advisor earlier, only 4% feel the same way now in 2007. A far lesser number of people have financial advisors at all, from 69% in 2003 to 47% in 2007. With absolutely no dearth of information, people are turning to online price comparison websites and even friends and family through social networks. And with the banks commoditizing most of its products and services, it will be no surprise to see these numbers dip further. More on this here.
Filed under: Engagement, Finance
