People looking for financial services jobs may need to be aware of growing consumer apathy when it comes to savings.
This is going by the comments of Martin Bamford, a chartered financial planner and managing director at Informed Choice. He said few savers really pay much attention to getting the best interest rates, although some are proactive and determined to make their money work harder.
“As advisers, part of our remit is to help our client identify suitable savings accounts and facilitate the review of interest rates on a regular basis,” he added.
Indeed, there is a “reasonable-sized gap” between the best and worst interest rates on offer, Mr Bamford explained.
Financial services jobs may have shifted their approach in the past few years as the economic downturn hit, as more people attempt to pay off debts rather than save.
Figures from the Office for National Statistics show that while in the fourth quarter of 2009 the household savings rate was 7.2 per cent, this dropped to 6.9 per cent in the first quarter of 2010.
