New research found this group were more likely to trust financial advisers than other sources despite popularity of online information

The Retirement Advantage survey recorded more than four in 10 (42%) advisers as a trusted source of advice.

The study also revealed high levels of trust in online research among those approaching retirement, with 36% picking internet research as a trusted source of financial advice.

By contrast, respondents were almost three times less likely to name their spouse as a trusted source of financial advice (13%) than internet research. Women were slightly more likely to trust their spouse than men (15% compared to 11%).

Professional relationships such as accountants or solicitors (21%) and friends or relatives (21%) also ranked highly as trusted sources of advice.

The media were only trusted by 8%, while the Government only managed 1% of support.

Andrew Tully, pensions technical director at Retirement Advantage, said: ‘It’s encouraging to see the trust people place in obtaining professional financial advice. While retirees have access to a plethora of online sources, it’s important that they remember receiving advice from a professional is the best way to maximise returns from savings and ensure financial security in retirement.

‘The trust in advisers that this research uncovers supports the view that retirees are making sensible decisions about how to access pension pots.

“We know that many people are waiting for pension providers to respond to the changes with the introduction of products that allow them to use the full potential of the new freedoms. Finding the right solution to balance certainty and flexibility will require help from a professional financial adviser."