Parents' don't always know best
It would seem that parents' don't always know best especially when it comes to financial advice.
A new survey by goodwithmoney.com revealed that one in three people will turn to their father for money advice; however, they are also being advised to take independent financial advice as well to ensure that Dad doesn't get 100 per cent of the blame if things go wrong.
The research found that one in three people admitted to actually losing money in stocks and shares after receiving investment advice from relatives, whilst a further third believe they have lost funds via the property market following misinformation from family members.
David Newman, director of marketing management at The Co-operative Bank and Co-operative Insurance (CIS) said: 'We all like to keep it in the family but it is clear that dad is not necessarily good with money.
'I suppose it is a bit like Bart asking Homer Simpson. It might seem like a good idea but it will more than likely end up costing money,' he added. | 
