People ‘would rather talk to parents about debt than advisers’

Around 21 per cent of people would rather turn to their parents for debt advice than a professional, according to a new survey.

A report from Norwich and Peterborough Building Society (N&P) has found that while 74 per cent of people would go to a mechanic to talk about a car-related problem, only 59 per cent would seek the help of a financial adviser for money worries.

However, it showed that 57 per cent of respondents thought about financial issues more often now than a year ago, before the credit crunch began.

The organisation is now encouraging people to seek advice if they are unsure about any money matters.

“When looking at your finances it really is important to get as wide a view as possible on the options available. We get huge satisfaction out of helping people to make the most of their financial resources” said spokeswoman Judith Dove.

Meanwhile a new diploma for financial advisers was recently launched by the ifs School of Finance.

By Jamie Price