Bentley, who is managing director of investment consultancy gbi², says simple solutions are not going to work as people approaching reitrement are not like their parents. They will likely have greater wealth but with more ambitious spending plans that may have to last 25 years or more.
Meanwhile younger generations are not likely to see the same growth in pension savings and IFAs are going to have engage more to find ways to encourage an earlier start to accumulating savings if these clients are to overcome the prospect of more modest investment returns.
To be able to spend more time with clients, Bentley recommends advisers invest in solid, robust, repeatable processes with great technology.
