Almost two out of three (63%) wealth managers’ clients are anxious about saving for retirement, according to a BlackRock survey.
The report says investing for income is important to 91% of wealth manager’s clients with retirement being a major cause for concern.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The report also revealed that 70% of wealth managers’ clients are focused on investing to ensure that they do not run out of money whilst in retirement, which for many will be a period of 20-30 years.
Also, 83% of wealth managers who participated in the survey said they are somewhat optimistic about the UK economy over the next six months. 83% of wealth managers said their clients are very concerned about changes to inflation.
Tony Stenning, head of UK retail at BlackRock, said: "These findings demonstrate that investors need to ask themselves whether they can achieve their long-term life goals with the investments they have. Life expectancy rose a staggering 43% between 1950 and 2010 yet we’re retiring at the same age.
"The compounding power of income from investments is critical in the current economic landscape particularly as the traditional hunting grounds of cash and government bonds are no longer providing the returns they once did.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"Interest rates are at extremely low levels and the yields from government bonds, traditionally considered the safest investment choice post financial crash, have fallen dramatically. Those in search of low-risk alternative sources of income should speak to their wealth manager about how best to manage their capital whilst avoiding the purchasing power being ravaged by inflation," Stenning added.
