Advisors generate £4.9 billion from retail investment activities In 2019, intermediaries and advisors offering advice on retail investments earned almost £5 billion in revenue. While volume sales of new investment products declined by 16% in 2019 compared with 2018, revenue from the provision of retail investment financial advice grew, because most advisors earn income from on-going charges rather than from on-off product sales. Moreover, advisors...
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Consumers Save and Invest almost £34 billion annually According to IRN’s latest report on the consumer savings and investment market (UK Savers and Investors 2020), at the end of 2019, UK households collectively held £3.7 trillion in non-pension financial assets, with their accumulated wealth having risen by almost 6% over the year. Consumers invested £33.5 billion net into non-pension financial assets in 2019, 9% more...
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New UK Pension Market 2020 report published In 2019, UK pension funds received total contributions of £241 billion, representing a 10% rise over the level of 2018. In 2019, contributions to workplace pensions represented 70% of total contributions and this is expected to rise to 71% in 2020. In 2019, IRN Research estimate that 2.4 million new pension products were sold to members of the...
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Over half of consumers own a workplace pension 55% of all consumers have a workplace pension. Among consumers with workplace pensions, most (51%) have a defined contribution (DC) pension with just over four-in-ten owning a final/career average pension. 85% of adults with a workplace pension have a pension with their current employer, with 15% having legacy pensions from previous employers. Almost six-in-ten workplace pension scheme members were...
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KEY FINDINGS: CONSUMERS WELCOME PUBLISHED PRICES ON WEBSITES AND THE FREELANCE SOLICITOR OPTION; NATIONAL LEGAL BRANDS INCREASE AWARENESS The latest consumer research findings from IRN Research in UK Legal Services Consumer Research Report 2020 show that most broadly welcome recent initiatives like publishing price information on law firm websites, and allowing freelance solicitors. Consumers still say that they find it difficult to differentiate one law...
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Over 400,000 passenger journeys lost to COVID-19 on Continental ferry routes IRN Research has just published their latest data on the passenger ferry market, with data for March 2020, the month in which the COVID-19 pandemic caused a lockdown of the UK economy and society. In response, ferry companies have rescheduled sailings, cancelled some sailings altogether and impose restrictions, such as limiting travel to only...
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New Pension Report from IRN Research This report is a consumer research report looking at how individuals generate income from their pensions. This covers the decumulation phase of the pension process. i.e. using the pension to generate income. This report studies the income generation process from the points of view of two types of consumers: Pensioners: i.e. individuals who are currently receiving income from a...
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Steady market growth in 2019, and forecast to continue in 2020 and beyond The UK Family Law Market Trends Report 2020 is the sixth edition of an annual report from IRN Research and provides an overview of the UK family law market. The sector experienced steady growth in 2019 and this is forecast to continue in 2020 and beyond. Divorce numbers are expected to continue...
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60% of consumers own a pension 60% of consumers in the UK (66% of those who are not retired) have a pension, even if they are not currently making contributions into the plan/scheme. 91% of consumers owning a pension have a workplace pension and 68% have a private pension: 61% own both a private and a workplace pension. Despite widespread ownership, pension holder knowledge and...
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IRN Research Director David Mort will be joining MD of Arken.legal Dave Newick to discuss the latest UK Wills, Probate & Trusts Market Report and Wills & Probate Consumer Research Report, published by IRN Research. Hear about the main findings, surprising stats, consumer behaviour and emerging trends. The big question being – where is the Wills & Probate industry headed? You can register for the...
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