"I don’t think there’s anything wrong with focusing on the baby boomers. We’ve got at least another decade, perhaps longer, of this generation reaching retirement age and needing professional advice.
"With boomers living longer lives and spending more of their wealth during their lifetime, especially on expensive social care costs, there is often little left over for future generations. In our experience, inheritance is quickly spent on the repayment of significant mortgage debts, leaving little scope to manage wealth for the children or grandchildren of boomers."
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He added that advisers could focus on providing younger clients with financial planning services, rather than wealth management or financial advice.
damian.fantato@ft.com
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