A survey conducted in February this year by MFS Investment Management revealed the following:
- 40% of investors surveyed feel financial products are too complicated.
- A third of the respondents said they feel inundated by investment choices.
- A quarter of the investors said their need for financial advice has increased in the past 12 months.
- More than a third of the surveyed investors – even more among younger people — believe the information they find on the Internet about investments is just as good as what they would get from a financial advisor.
The takeaway? Make it smart, simple, and online.