| Baby boomers walk away from financial advice A new survey by Dunstan Thomas looks at baby boomers’ attitudes to retirement and pensions. Adrian Boulding, the company’s director of retirement strategy, talked to Harriet O’Brien.
Aged from 58 to 75, baby boomers account for about 20 per cent of the UK population yet control nearly 80 per cent of the private wealth, which is a sobering fact, particularly when seen next to the fact that 36 per cent of those polled said that they "don’t understand the difference at all" between regulated financial advice and guidance from banks or building societies.
Boulding says: "The fact that only 7 per cent of women and 17 per cent of men ‘fully understand’ the difference between ‘financial guidance’ and ‘fully regulated financial advice’ is worrying."
WH Ireland, provider of wealth solutions for 150 years, published its results this week and Wealth Adviser spoke to
head of wealth management at the firm, Michael Bishop, who described their results as ‘solid’.
Bishop believes that the WH Ireland model of combining financial planners for the more personal role of meeting a family and discussing their long-term goals, with an investment manager, who manages the portfolio, is the dream combination for achieving success for a client.
"What we are seeking here is to provide the combination of the financial planning approach along with the institutional investment ideas you would expect from a much larger house," Bishop says.
Wealth Adviser will be on holiday for the next couple of weeks, returning with our weekly newsletter for 19th of August.
Happy holidays!
Beverly Chandler, managing editor, Wealth Adviser
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