City Must Take Responsibility for Financial Education

FUTURE PROOF: BlackRock's Jeremy Roberts says the asset management industry must help to educate individuals about the financial implications of living longer

Emma Wall 12 August, 2014 | 1:55PM
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Britons have 68% of their portfolios in cash – despite the asset class delivering returns of less than inflation for last 65 months, since Bank of England base dropped to 0.5%.

This figure is the biggest issue facing the investment industry according to Jeremy Roberts, head of UK retail at BlackRock, who commissioned the revealing survey.

“We are living longer – which is positive news – but brings its own set of challenges. Cash simply will not deliver an income in retirement, and not enough people realise the implications of staying in that asset class. The onus is on our industry to change that.”

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About Author

Emma Wall  is former Senior International Editor for Morningstar

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