Two-thirds of European investors to seek financial advice this year, says Schroders
Two in every three investing Europeans plan to take independent financial advice in making decisions this year, according to a study by Schroders.
The poll of 1,341 investors across 12 countries found the eurozone’s debt crisis remains the top concern (cited by 43% of investors), down only slightly from 49% last year.
The concern grew, however, when it came to increasing taxes (up to 30% from 27% last year).
Investors were less concerned this year about inflation (falling from 34% to 27%), and a ‘weak and prolonged recovery’ (down from 32% to 25%).
Twice as many British investors are concerned about ongoing low interest rates as is the rest of Europe (49% versus 25%), while Italians expressed concern over increased taxes twice as often as Europeans outside Italy (63% versus 30%).
Making use of tax efficient opportunities is the main area Europeans plan to seek advice on (cited by 19%), followed by reviews of pensions (17%), re-assessing how much money they should be investing, their asset allocation and rebalancing long- and short-term goals (between 16% and 14%).
Italians, British and Portuguese are the nationalities most likely to get external financial advice this year.
Peter Beckett, head of international marketing at Schroders, said: “Investors across Europe are still understandably concerned with economic conditions and are therefore faced with the challenge of how to maximise the growth of their investments in this uncertain environment.
“The fact that they are exploring solutions and ways to overcome this to get back on the road to growth again is a positive trend for 2012.”