Investors looking to financial advisers for guidance - PI for IFAs

13/02/2009

Seeking professional advice is becoming an increasingly popular activity for investors as the financial crisis rumbles on.

Recent research carried out by NMG Financial Services Consulting indicated that 15 per cent of investors had sought guidance on their investments during the final quarter of 2008, an increase from the 12 per cent recorded during the previous three-month period.

Meanwhile, 13 per cent of investors questioned - all of which were deemed to be of medium to high net worth - claim they trust their financial adviser to make the right decision for them, an increase of three percentage points from the July study.

And as investors increasingly seek out and rely upon the services of advisers for help with their financial decisions, the issue of obtaining comprehensive Professional Indemnity (PI) insurance may become important.

Such an increase comes as 55 per cent of those surveyed state to be very concerned about the current economic conditions.

Earlier this month, a Money Marketing article advised independent financial advisers to ensure they check the terms of their PI policy so that they are aware of any exclusions that might affect the scope of their cover.

Click here for more information about Professional Indemnity in general.

PYV are one of the UK's leading providers of professional indemnity insurance. This news article has been produced by Adfero in collaboration with PYV and its unauthorised use is not permitted.

(c) 2008 Adfero Ltd.

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