69% of Financial Advisors Feel that Under 35s are Very Important for the Future of the Financial Services Market.DUBLIN Dublin, city, Republic of Ireland Dublin, Irish Baile Átha Cliath, county borough (1991 pop. 915,516), Leinster, capital of the Republic of Ireland, on Dublin Bay at the mouth of the Liffey River. , Ireland Ireland, Irish Eire (âr`ə) [to it are related the poetic Erin and perhaps the Latin Hibernia], island, 32,598 sq mi (84,429 sq km), second largest of the British Isles. -- Research and Markets (http://www.researchandmarkets.com/reports/c86441) has announced the addition of Datamonitor's new report: Selling Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to Under 35s to their offering. Selling Financial Services to the Under 35s in the UK uses information from Datamonitor's quarterly survey of financial advisors to assess their views on the under 35s market. It examines how these clients are targeted and which products they typically purchase. Scope - This report gauges financial advisor opinion toward a selection of life and mutual fund providers - The report examines the opinions of financial advisors in relation to a potential recession during 2008 - This report analyses the efforts of financial advisors in selling financial services to the Under 35 age group Highlights of this title Advisors expect clients to save more money in a recession while their long term personal finances are likely to be unaffected Financial obligations and immediate spending are limiting the savings of young clients. Most advisors have no interest in targeting young clients Key reasons to purchase this title - Gain insights from financial advisors on what would be considered important qualities of provider if a market downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. were to occur - Discover which targeting strategies are believed to be the best methods for attracting young clients, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. financial advisors opinion. Key Points: Most surveyed advisors are independent sole traders 1. A feme sole trader. sole trader n (COMM) → comerciante m/f exclusivo/a sole trader n (Comm) → chef m with a low average case size The majority expect that product sales will remain the same over the next six months Almost half the advisors have some concerns over the potential of a recession occurring in the next 12 months although a significant number are unconcerned 81% of advisors do not actively target the under 35s 69% of advisors feel that the under 35s are very important for the future of the financial services market The majority of respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. are sole traders The financial advisor market remains dominated dom·i·nate v. dom·i·nat·ed, dom·i·nat·ing, dom·i·nates v.tr. 1. To control, govern, or rule by superior authority or power: by independent advisors Most advisors in this survey deal with an average business case size of less than PS5,000 The majority of business is conducted in pensions, life based investments and protection products Advisors have lowered their expectations for growth in the future The majority expect that product sales will remain the same over the next six months The majority of advisors expect life products sales to remain static ISAs remain the most likely products to increase their sales over the next six months Two-thirds of advisors expect protection product sales to remain static in the near future Some advisors predict pension product sales to increase Financial advisors have very positive attitudes towards Standard Life, Skandia and Legal and General Attitudes have remained similar to those in Q3 2007 Financial advisors are positive about Invesco Perpetual Invesco Perpetual is an investment company based in Henley-on-Thames, Oxfordshire, England. It was originally founded as by Sir Martyn Arbib and before it merged with Invesco it was known first as Perpetual Mutual then as Perpetual plc. , Fidelity Fidelity is a notion that at its most abstract level implies a truthful connection to a source or sources. Its original meaning dealt with loyalty and attentiveness to one's duty to a lord or a king, in a broader sense than the related concept of fealty. and Jupiter Jupiter, in Roman religion and mythology Jupiter, in Roman religion and mythology, the supreme god, also called Jove. Originally a sky deity associated with rain and agriculture, he developed into the great father god, prime protector of the state, 24 Data distribution dynamics Almost half the advisors have some concerns over a possible recession occurring in the next 12 months although a significant number are unconcerned Advisors expect clients to save more money in a recession while their long term personal finances are likely to be unaffected Service and financial stability are considered the most important qualities of a provider in a market downturn Having an attractive introductory offer and price were considered to be the least important qualities of a provider in a market downturn The majority of advisors have a plan in place in the event of a market downturn Income protection, guaranteed equity bonds and capital protected products are the most likely products to become popular if a significant market slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. occurred The majority of advisors feel that providers will not support them adequately in a market downturn The majority of advisors claim their average client is over 35 81% of advisors do not actively target under 35s Most advisors claim they do not target the under 35s because they do not have any marketing strategy The majority of advisors target under the 35s with mortgage products Most claim that only a small proportion of business comes from the under 35s Most of the under 35s business is in mortgages Insurance based investment bonds and mutual funds are the least popular products for the under 35s Financial obligations and immediate spending are limiting the savings of young clients Most advisors have no interest in targeting young clients 87% of respondents believe that young people are not adequately educated about their finances It is a combined responsibility of schools/government, families and financial advisory industry to educate these young clients Media campaigns promoting the need to save and targeted marketing are viewed as the best methods to attract young people as clients 69% of advisors feel that under 35s are very important for the future of the financial services market For more information visit http://www.researchandmarkets.com/reports/c86441 Source: Datamonitor Datamonitor is a provider of online database and analysis services. The company is based in the United Kingdom and also has offices in the United States, Japan, and other countries.[1] The Datamonitor team includes analysts and professional researchers. |
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