Baby boomers bouncing back with age.

Investment Adviser, December, 2007

Byline: The move from a stage of accumulation to one of decumulation is presenting a challenge

The fund management industry faces a challenge. As baby boomers age, they will stop building up their savings and start to run them down. In the jargon beloved by management consultants, we will move from an era of accumulation to one of decumulation.

That means the industry may need new products, ones that are outcome-orientated, rather than market-orientated. Once you cut through the jargon, this makes a great deal of sense. After all, why do people invest? Not to beat the FTSE100 ...