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Happiness is financial advice

Oct 14, 2006

Financial advice is key to helping people to achieve their dreams, new research has found.

A new survey of British adults by Standard Life Bank and the Centre for Future Studies revealed that half of respondents felt that they required financial advice in order to pursue their idea of happiness. While 56 per cent of those polled said that they had a life plan in place in order to achieve happiness, 70 per cent said that a lack of financial security was a major stopping block to them being happy. Products such as pensions, savings and loans were all areas where advice is thought to be required.

Staff at Standard Life Bank, said that the research showed that financial advice played an important role in people's well-being, which was good news for the advice industry.

Although many people had a life plan in place to set out their goals, they also recognised the need for financial advice in order to achieve them. A survey of intermediaries revealed that 49 per cent regarded finances as the biggest obstacles to happiness for many of their customers.

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