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Time to focus on non-superannuation investment market
Financial services groups need to be paying just as much attention to the non-superannuation investment market as they have been paying to superannuation, according to actuarial consultancy, Rice Warner.
Promoting the release of its Personal Investments Market Projections 2015 report, Rice Warner noted Australia's dual investment and savings systems, inside and outside superannuation.
It said both systems were of almost equal size and that both promised to provide excellent and evolving opportunities for the financial services industry.
"Given the widespread attention given to superannuation by Government, interest groups and the media, the size and significance of the non-superannuation personal investments market is not always readily recognised," the Rice Warner analysis said.
Among the array of findings from its report, Rice Warner pointed to the importance of demographic changes and the manner in which they would impact investor sentiment.
"The retirement of ageing baby boomers will lead to greater drawdowns of non-superannuation and superannuation assets first to provide retirement income and later for the generational transfers of wealth upon death," it said.
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