Peter Bradshaw, national accounts director at Selectapension, thinks the government's decision to increase the state pension age to 70 faster gives advisers the perfect excuse to get in touch with the young 'uns...
Younger generations should now be on the radar of advisers.
Selectapension's has found 25 to 34-year-olds have the biggest capacity to increase their earning potential before retirement.
Therefore, George Osborne has given advisers a great reason to contact this age group to discuss how a private pension can help them save for their future retirement, so they do not have to work until 70.
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Advisers should look to the opportunity to invest in this generation and develop their relationships with young earners in a bid to hone in on this earning potential.
It would be a terrible shame if the industry wasn't in a position to meet the needs of this younger audience.
Advisers need to adapt and capitalise on this new market, utilising technology to project accurately and effectively to the client the potential returns, and thus making the most of this new investment and review opportunity - turning young people into long-term clients.
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