Advisers need to overhaul and update their business models to adapt to changing demographics of retirees whose financial make-up is becoming more complex, delegates heard at PA360 Digital on Wednesday morning.
Speaking on the first morning of the PA360 conference, being held virtually for the first time, Canada Life's John Chew said advisers must adapt and change to service different types of retiree. The pensions, tax and estate planning consultant said the typical babyboomer retiree, with defined benefit pension and no financial stress, would become a smaller chunk of adviser's business in the coming years. Chew said in his presentation: "There are 16.6 million over 60s at present. In 15 years' time that will grow to 20.9 million. "The key growth area is going to be in complex families...
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