MoneyFit Week Launches Today to Give Free Tasters of Financial Expertise

The week-long event will encourage people to think about their money in new ways and take steps to improve their overall financial fitness.

Throughout this week, unbiased.co.uk will be hosting live online Q&A sessions between consumers and financial advisers. Participants will be able to raise questions on issues such as pensions, mortgages and other financial matters and discuss them with experts free of charge. Anyone taking part can also follow other conversations, share tips and experience the benefit of professional financial expertise perhaps for the first time.

Research from unbiased.co.uk and MetLife’s Value of Advice report found that many consumers are prioritising non-vital areas of their finances, and that over half of adults in the UK (58 per cent) have never sought any kind of financial advice.*

On average, advisers say that people with investable assets of around £32,000 see the most value from professional advice, but 29 per cent say that advice can still provide a real benefit to those with investable assets of £10,000 or less**.

Karen Barrett, Chief Executive of unbiased.co.uk, comments: ‘The recent pension changes have encouraged people to think about their retirement income, but with MoneyFit Week we want to go further and raise awareness of how much more can be done to boost your financial fitness. Small changes to the way you manage your money can have a tangible positive impact on your lifestyle over time, so it’s well worth taking advantage of the free information and opportunities on offer this week.

‘Of course, these sessions are not intended to be a substitute for tailored professional advice, which is absolutely something that is worth paying for. However, our research shows that people often don’t even consider advice as an option. We hope that MoneyFit Week will be a valuable introduction that gives people a chance to see what value advisers can provide.’

Simon Massey, Wealth Management Director at MetLife, comments: ‘Pension freedom has opened up a wealth of opportunities for savers but the risk is the opportunity to spend their funds could be just too tempting. Advice will be crucial in helping people to avoid running out of money in retirement.

‘Flexibility needs to be balanced against certainty over income in retirement. MoneyFit Week can help savers to understand the benefits of planning long-term and ensuring a guaranteed retirement income for life.’