The generational wealth gap and investment risks – a looming risk for brokers
Financial constraints have led to a greater reliance among younger generations on alternative investments that pose higher risks for investors and their financial advisors. As a result Kate Albert, CEO and co-founder at Kova Professions, warns brokers will need to look again at risk profiles.
The UK has a generational wealth gap, reflecting major shifts in how different age groups view and manage their finances.
While Baby Boomers have typically taken advantage of defined benefit pensions, rising property prices and stable career prospects to realise substantial retirement savings and significant home equity, Generation X, Millennials and Gen Z face a very different financial landscape, one placing the onus on individuals to save for retirement.
Millennials and Gen Z in particular are
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