Retirement planning remained the UK consumer’s top motive to take financial advice in the final quarter of last year, according to IFAP – the organisation promoting the benefits of independent financial advice. Its data shows that the share of consumers seeking advice on their retirement provision rose significantly toward the end of 2005.

In total, IFAP handled over 530,000 requests for local IFAs last year, a year-on-year increase of almost 100,000. David Elms, chief executive of IFA Promotion, commented, “It’s encouraging that we were able to put well over half a million people in touch with a local IFA to best suit their needs last year.”