Friday, 30 November 2012 11:00
IFP holds first Twitter interview and consumers shun stocks
The Institute of Financial Planning will be holding its first ever Twitter interview at 1pm today to support Financial Planning Week.
The interview, from 1-2pm, aims to get Financial Planning trending on Twitter using the hashtag #fpwuk. Twitter users can ask questions of IFP staff and what they think of Financial Planning Week.
IFP chief executive Nick Cann, President Rebecca Taylor FIFP CFPCM and vice-president Alan Dick CFPCM will all be taking part and answering questions.
The IFP is keen to find out people's view of Financial Planning Week and broader financial issues.
The final survey from Financial Planning, which the IFP has been running in association with YouGov, revealed that consumers are shunning investment opportunities and remaining in cash.
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The survey of 1,000 consumers, which was sponsored by Liontrust, found that only 10 per cent of people would consider stock market investments in 2013 with this figure falling to seven per cent of women.
Some 71 per cent of people aged 18-34 said they were unlikely or very unlikely to invest, showing risk aversion even among those who need to save for their long-term future.
However, by keeping their finances in a bank or building society account, they are unlikely to generate a real return due to high inflation.
Rebecca Taylor FIFP CFPCM, IFP President, said: "While keeping your money on deposit is fine for the short term and particularly for those funds you might need in an emergency, there are considerable risks to doing so for the longer term as inflation will erode their value.
"Of course, if they are investing in the stock market people must be prepared to see the value of their capital fluctuate. However, over the long term, by investing in "real" assets like stocks and shares, people have the chance that the value of their capital will appreciate rather than depreciate."
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The interview, from 1-2pm, aims to get Financial Planning trending on Twitter using the hashtag #fpwuk. Twitter users can ask questions of IFP staff and what they think of Financial Planning Week.
IFP chief executive Nick Cann, President Rebecca Taylor FIFP CFPCM and vice-president Alan Dick CFPCM will all be taking part and answering questions.
The IFP is keen to find out people's view of Financial Planning Week and broader financial issues.
The final survey from Financial Planning, which the IFP has been running in association with YouGov, revealed that consumers are shunning investment opportunities and remaining in cash.
{desktop}{/desktop}{mobile}{/mobile}
The survey of 1,000 consumers, which was sponsored by Liontrust, found that only 10 per cent of people would consider stock market investments in 2013 with this figure falling to seven per cent of women.
Some 71 per cent of people aged 18-34 said they were unlikely or very unlikely to invest, showing risk aversion even among those who need to save for their long-term future.
However, by keeping their finances in a bank or building society account, they are unlikely to generate a real return due to high inflation.
Rebecca Taylor FIFP CFPCM, IFP President, said: "While keeping your money on deposit is fine for the short term and particularly for those funds you might need in an emergency, there are considerable risks to doing so for the longer term as inflation will erode their value.
"Of course, if they are investing in the stock market people must be prepared to see the value of their capital fluctuate. However, over the long term, by investing in "real" assets like stocks and shares, people have the chance that the value of their capital will appreciate rather than depreciate."
• Want to receive a free weekly summary of the best news stories from our website? Just go to home page and submit your name and email address. If you are already logged in you will need to log out to see the e-newsletter sign up. You can then log in again.
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