2 February 2008

Financial services companies need to embrace the Internet for advice as they have done with other products and services, according to a report by Forrester.

The report, Why financial company Web sites need online advice tools, says that complicated financial products confuse most consumers, and only 29 per cent of Europeans say they rely on financial advice from professionals. This is mainly due to outdated methods that fail to cost-effectively deliver the right advice to the right customers at the right time.

The report advises that online advice tools can help clients achieve their financial goals as well as helping to reduce the cost of delivering advice and make the advice given more relevant.

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