The Government continues to be concerned that millions of people's savings are inadequate or non-existent and their financial preparation to meet future living expenses is inadequate. This concern is based on The United Nations' forecast that, by 2050, 34% of the UK population will be over 60, compared with 21% today. As a result the Government’s capacity to provide for their future, financial needs will be severely challenged.

This financial inadequacy transcends all age groups, social structure and gender. There must be a responsible level of awareness that the financial choices made now will affect future expectations in respect to the level of financial independence at all times. Economic crises, that have occurred in the past to credit markets, have taught many lessons to those on low, middle and some high income.

The 21st Century

Families that, in time of financial crises, that save in time of plenty will pay dividends later, know the difference between needs, wants and desires. The Financial Industry in its present form no longer has the capacity to service the present and ever increasing client base. Historically, there were more service providers, hence more IFAs, tied and insurance agents talking to end users about products and reviewing suitability of product(s) to meet changing circumstances. The stage you are in your lives is irrelevant to the fact that you need to be managing your finances and preparing for the future and uncertainties in life.

It is therefore important for you to review your financial attitude, examine how much money you keep for yourself, think about your potential to do more with your life and avoid money worries by engaging in wealth planning.

Philosophy

From a consumers point of view, with the existing limited choices and service that are now available, there is an urgent need for access to information that will enable wealth planning, self-monitoring to make suitable changes, and begin kept up to date. Consumers will no longer have to rely solely on service providers or IFAs to identify a range of products and for reviews of products bought. With modern technology, consumers can now do this themselves.