Thursday, September 15, 2016

The FCA is doing excellent work but is missing the biggest financial issue facing older people

There is a lot to be welcomed in the recently released update from FCA about their work programme to ensure the UK’s financial services industry is fit for purpose in dealing with the ageing population.

Things like identifying the ‘The Ageing Mind’ as being an important issue in the structuring of products and marketing communications.

These are the other areas they are investigating: The uppper age limits on financial products, mortgage lending to older consumers, advice about long term care and making it easier for third parties to help older people manage their finances. This is all good stuff. Well done the FCA.

But why oh why have you ignored the big, no the vast, elephant in the room, of how older people use their property wealth to fund their post work existence? Of all the things that needs to be sorted this is it.

Please have another think and add it to your list. Dick Stroud

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