Family fortunes: Your real boss is your client's kid

The post-war demographic boom that created the Born In the ‘Fifties generation (BIFs) awarded that cohort with unprecedented privilege. Beyond free university education and low-deposit housing, most significant was a fundamental shift in financial opportunity. In 1956 Ross Goobey, the manager of Imperial Tobacco's pension fund, revolutionised long-term investment strategy when he declared shares provided better long-term inflation-adjusted returns than bonds. This sparked the engine of a massive global transfer of pension assets from bonds into equity. Twenty years later, BIFs w...