Date: Thu, 27 Apr 2006

Consumers seeking financial advice are increasing turning towards the internet to find the most suitable product.

According to an Ipsos MORI survey for IFA Promotion (IFAP), 25 per cent of adults said they would search out information online compared to 22 per cent who would approach a bank or building society, 20 per cent would contact a high-street IFA and 16 per cent would ask family or friends for advice on financial products such as life insurance.

David Elms, chief executive of IFA Promotion, said: "This is further proof, if proof were still needed, that consumers turn first to the internet to research financial matters, just as they do for their holidays or a new job.

"The fact that potential customers are doing their initial research online should come as no great surprise to IFAs — after all, it's exactly where most IFAs would go to gather their own information."

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