Consumer Survey: Investigate before you invest

The Retirement Commission part-funded the research to get a snapshot of the quality of advice given to investors and to identify key issues.

"I have been concerned for some time about the public's loss of trust and confidence in the financial services sector. Being able to invest with confidence is a critical part of saving for retirement and managing your money in retirement.

"This research reinforces the need for investors to do their homework. We are about to launch a campaign telling people to investigate before they invest. They need to know what questions to ask to make sure they understand what they are investing in and who they're investing with. The Sorted website is a good place to start."

The Sorted information includes eight rules for investing, an advice checklist, and risk and investment recommenders to work out how much risk you should take and what investments might suit you.