Pensions  

Silver spenders feel ignored by finance

"We see a lower demand for financial planning and financial advice from the under 50s, with the exception of the children of our over 50 clients and there are many product providers that offer financial products and services that target the needs of the over 50s."

 Andrew Pennie, head of Pathways at  Intelligent Pensions, agreed: "Financial services brands have become increasingly focused on the over 50s, particularly since the launch of pension freedom and choice.

Article continues after advert

"This is a trend I expect to see continue as the number of people approaching retirement with pensions and larger funds steadily increases year on year.

 "The research is based on averages and perhaps disappointingly highlights the difference between the haves and the have nots in older age.

"Overall, the perception of financial services fares reasonably well against other industries but there is always more that can be done to engage more effectively with this and other audiences when it comes to financial services and financial education."