Four emerging groups of 'thirty-to-fortysomethings' will provide significant business opportunities for financial advisers in years ahead, according to research published jointly by Standard Life Bank and The Future Laboratory.
Driving these groups will be extreme lifestyle changes resulting from demographic shifts coupled with increasing reluctance to put up with the drudgery of a “9-to-5” existence.
Instead, these Contrasexuals, Cross-shifters, New Authentics and HEROs (High Earner, Risk Open) will seek “new career paths, organic lives, risk and adventure”.
Contrasexuals are defined as women in their 30s and 40s who are turning their back on the 'Bridget Jones' stereotype; Cross-shifters are thought to be abandoning the corporate rat race in favour of their own career paths; New Authentics are willing to halve their salaries to improve their quality of life; and HEROs are prepared to risk everything in search of adventure, and in the pursuit of their dreams.
All will require financial advice to put the changes they seek into practice, in particular assistance in unlocking mortgage equity to fund their desires, Standard Life Bank says.
By helping these clients realise ambitions to implement such drastic lifestyle changes, advisers will also be setting up long-term relationships required to ensure clients’ lifestyle targets are met, the joint report adds.
The report The Shape of Dreams to Come – Living, Working and Changing Lifestyles in Britain is available from the Standard Life Bank website at standardlifebank.com.
Some 2,500 consumers and a panel of 100 work and lifestyle forecasters were interviewed for the research in April and May this year.IFAonline
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