People in Britain are increasingly turning to the internet for guidance on their finances, according to a new report.
Research carried out by Birmingham Midshires found that 60 per cent of households now look to the internet for information, rather than industry advisors.
Some 46 per cent of people are confident they can find all the financial details they need online, rather than going to a financial advisor, and 50 per cent conduct internet research before seeking face-to-face help.
"The internet has empowered consumers to do their own homework before they commit to a financial product," said Tim Hague from Birmingham Midshires.
The study revealed that 55 per cent of people would head to a price comparison site for guidance on loans and other financial products.
Some 21 per cent trust the internet for legal advice and 75 per cent research holiday plans online.
A recent report from uSwitch forecast that online sales would hit £40 billion this year and £162 billion by 2020.
