Nearly three in ten Brits (28%) will shun the opinions of experts and instead seek advice from family and friends when making important life decisions – such as where to invest their money.
A social experiment, with more than 1,000 participants, showed that adults are one-and-a-half times (or 54%) more likely to turn to advice from those closest to them, than professional sources, in all areas of life.
When it comes to financial advice, half of those surveyed are more likely to ask family and friends about where to invest money – with 40% relying on their opinion even when it comes to high-risk investment choices over any other sources, including experts.
