Is it time to give mum a financial makeover?

With Mother’s Day this weekend, perhaps it is time to arrange a financial makeover for your mum. New research from Defaqto has found that only 22% of women have sought financial advice.

The research also found that 21% of women are saving for retirement, with only 13% confident that their retirement planning will meet their income needs.

Worryingly, 78% of women will be relying on a State pension and 22% on their spouse’s pension.

Whilst flowers or chocolates will probably be the gift of choice on Sunday, it might also be the time to suggest your mum meets with an independent financial adviser to review her financial planning.