People aged over 50 now exceed a third of the UK population and comprise the most affluent consumer group in terms of income and wealth but are being ignored by financial services providers, research suggests.
According to market analyst Datamonitor, a small portion of financial services providers gear their marketing materials and products towards this age group, approaching 20 million, and taking them for granted. The research firm says in 2003 there were over 522,000 high-net-worth people aged 56 and over, representing almost 70% of the UK high-net-worth population and owning 68% of high-net-worth liquid assets, exceeding £215bn. Karina Purang, financial services analyst at Datamonitor says: “Representing nearly 20 million of the total UK population, growing at a sustained pace and holding...
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