Moneyspider in the News

The rise of the silver surfers

The Sun

GREY POWER is a force to be reckoned with, with techno-savvy silver surfers sort out their money matters online.

Nearly three million 55-plus Brits are surfing the net via their home computers to take charge of their financial destiny, say investment data firm Moneyspider.com

And the company predicts this figure will rise sharply over the next few years as more oldies gain the confidence to log on.

Internet banking, financial product comparison tools and information on funds, shares and savings are at the top of the surfing list of the senior citizens - who now own more than two-thirds of the nation's personal wealth.

Chris Flynn, 63, began managing his savings over the internet after he became fed up with his financial adviser telling him not to worry that his investments were not doing as well as he wanted.

Chris, a retired teacher from Middlesbrough, decided to join the cyber-revolution and get his finances back on track by himself.

He signed up to the Moneyspider.com website, registering his investment portfolio with them so that he could personally track its daily performance.

Now, delighted Chris reckons the smart move has earned him an extra £1,700 in the space of just two months.

Thanks to the handy financial information provided for him by Moneyspider.com, Chris has switched his money to funds that produce much higher returns.

He said: "I feel that I've got more ownership over my investments and greater knowledge of the various markets."

"Switching over my money to better-performing investment funds will guarantee that I enjoy consistently higher returns on my money in the future."

Moneyspider.com's Tony Ahearne said: "Turning to the internet instead of telephone or face-to-face financial advice gives people independent evaluation and comparison tools that enable them to make more money."

"With the internet, the world is your oyster and you do not even have to leave your home."

The Moneyspider.com website compares the performance of more than 2,000 funds to help users get maximum value for their hard-earned.

Mr Ahearne added: "Many of our members are pensioners who, since becoming retired, have more spare time, which enables them to keep an eye on their the performance of their investments.

"Many of our members now check their funds on a daily basis."