Emerging Affluent Baby Boomers, Financial Services, & The Web
Abstract
Boston, MA, USA June 23, 2005Emerging Affluent Baby Boomers, Financial Services, & The WebSurvey results suggest that financial institutions rank dead last in impacting the financial plans of this high potential group More than half of all emerging affluent baby boomers in a recent survey said that banks, insurance carriers, and securities firms would have "little or no impact" as sources of information about their financial decisions. "This is a clear wake up call for financial institutions," says senior analyst Craig Weber, author of the latest Celent report, . "Emerging affluent baby boomers are prime targets, today and for decades to come. If these consumers cannot be convinced to include institutions in their decision making, the current trend toward commoditization of financial products will continue."Even worse, Weber notes that the majority of consumers ranked their own research as their number one source of information." That痴 fine for consumers who really know what they are doing, but it leaves millions of baby boomers at risk of making poor choices that will severely impact their retirement," Weber says. The 36-page report is based on a survey administered to 467 emerging affluent consumers in March, 2005. The report provides detailed insights into consumption of financial products, user views on financial service provider Web sites, and baby boomer retirement planning. Key findings discussed in the report include.
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