UK: Opportunity for advisers as consumers shop around for good deals
• Almost half of consumers class themselves as savers
• Over 50% of consumers get ‘a buzz’ shopping around for good deals
• Four out of five people think better saving could evade a future financial crisis
• Typical saver sets £144 aside each month
Almost half of UK consumers class themselves as ‘savers’, taking a keen interest in savings and investments, a study has revealed.
Research commissioned by Aviva has found an encouraging 46 per cent of people consider themselves to be savers; 84 per cent say they are careful with money and 56 per cent say they get ‘a buzz’ from finding good deals on mortgages, savings and investment products.
A third of adults have set up a direct debit to ensure they put something away regularly, with the typical saver setting aside £144 each month. This figure rises to £157 per month amongst the 45-54 year olds. One in five say they save nothing, but an equal percentage (22%) save more than £250 on a monthly basis.
Amid the continued challenging economic environment, almost three quarters of consumers admit to having revised their spending over the last 12 months. Those aged 35-54 years old are most inclined to have tightened their belts.
Eight in ten of the 2,000 adults polled agreed that if people were more conscious of their spending habits and better at saving, they wouldn’t be in such a financial mess.
Tim Orton, Product Director for Aviva Pensions and Investments, said: “Advisers seeking out new opportunities to grow their businesses in the post RDR era should be encouraged by these findings.
“Whilst clearly many people are already quite savvy with their money, taking sensible steps to cut their monthly expenditure, there are those who are actively looking for help to make the most of their cash.
“It’s important that they have access to the best information to make the most of their money, and this is where financial advisers should be on hand to help.
“With the right strategy in place, advisers are in a good position to promote their services, be that online or using more traditional methods.”
There is increasing evidence of just how significant the digital world is when it comes to customers making decisions. Sixty eight per cent of people now search online when making decisions about goods and services related to money matters.
Tools like Aviva’s New Thinking website supports advisers and helps them maximise their online presence so they are not losing out on digital opportunities. The site contains simple, practical ideas to help them target and interact with new and existing clients through social media networks.
Notes to editors:
Aviva provides insurance, savings and investment products to 34 million customers worldwide.
We are the UK’s largest insurer with over 14 million customers and one of Europe’s leading providers of life and general insurance. We combine strong life insurance, general insurance and asset management businesses under one powerful brand. We are committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work.
Aviva Plc is in the top 10% of socially responsible companies globally in the Dow Jones Sustainability World Index. In 2012 we invested £5.7m into our UK communities. One in three of our employees were involved in community investment activities which included giving nearly 30,000 hours.
Aviva is working in partnership with Railway Children through the Aviva Street to School programme to get children living or working on UK streets back into everyday life, especially education. Find out more at www.aviva.co.uk/street-to-school.
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