There is a change taking place in society

They are down-grading the risk element in their investment portfolios and are reducing their investment levels – even if they are not yet drawing down savings.  Baby boomers are turning into sun-downers.  Yet, for all its cleverness, the UK financial services industry seems slow, if not to recognise, at least to address the important implications of this shift. In 2012 British householders grew richer.  A general market recovery pushed financial assets over the £7 trillion mark for the first time, with household wealth increasing by more than 60 per cent in the last ten years.   The val...