Customers are turning to independent financial advisors for help as they have been abandoned by high street banks as hundreds of posts are under threat across the country, an advisor claimed today.
Gavin Roberts, of Chartered Independent Ltd, said customers who had traditionally sought advice from advisors within the branch of their high street bank were now seeking a personal service within their own home.
Mr Roberts, from Horsehay, Telford, said: “Two major high street banks have removed their financial advisors from high street banks in recent months leaving loyal customers without that service.
“As a former manager I know there will be thousands of people with large sums of money invested who won’t be able to access those vital services.
“Already the knock-on effect is evident as the number of enquiries has increased in recent weeks.”
Mr Roberts said people were more eager than ever to monitor their investments and finances due to the changing economic markets especially in Europe and also people’s changing aspirations and needs.
“The independent financial advisor being able to sit in someone’s own home is becoming much more of the everyday situation now as the branch advisors are not as regularly available as they once were.”
He added: “I feel people have put their trust in their high street bank by investing their money with them but are no longer being given the service they deserve.
“I realise cut backs are happening in all industries but there is a minimum standard of service a customer deserves and access to financial advice should be one of those.”
The 36-year-old advisor graduated in the fellowship of the Personal Finance Society earlier this year and is both a chartered and an independent advisor so can offer products and services across the whole market.