Half of Britons 'have never taken financial advice'

More than half of the people in the UK have never taken out any type of financial advice, it has been reported.

According to research from Zurich, 57 per cent of adults have so far refrained from enlisting the services of a financial adviser.

This figure reaches 70 per cent among single people and 73 per cent for people who are in a relationship but live on their own.

Director of life marketing at Zurich Tony Solomon remarked that the research proved "troubling" reading.

He said: "The sheer number of people walking blind into their financial decision-making presents a disturbing trend in society and an alarming picture for the future."

At the end of April 2008, the total amount of personal debt in the UK stood at £1.436 billion, according to Credit Action research.

It added that in the UK the average amount of household debt is £57,683 including mortgages.

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