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Mind the knowledge gap

There is a massive financial knowledge gap emerging, research from Nottingham University Business School’s centre for risk, banking and financial services has found.

In the study, which polled more than 2,000 consumers, the authors found evidence of a “knowledge gap”, which suggested many people could be in a vulnerable position in a marketplace that they do not understand.

It warned that with the new pension freedoms, the difference between what many savers and investors think they know and what they actually know was often worryingly significant.

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