Financial Services Industry
Industry: Email Alert RSS FeedHarry Dent Says Prepare for Boomers' Aging
Bank Technology News, July, 2004
For Harry Dent, the forces gathering to alter the banking industry can mostly be traced to the life cycle of the Baby Boomers. Dent, an investment strategist and author, whose most recent book is "The Roaring 2000s," is unabashedly bullish and believes a keen appreciation of Boomer needs and tastes will separate successful institutions from those that founder.
He paints several broad trends. The first is that thanks to Boomer spending and increased productivity, the economy will be stronger in the second half of this decade than is generally believed. Second, financial services will be stronger than the overall economy as Boomers pick up their savings rate in preparation for retirement. The growth areas will be investment services, not lending and consumer finance. "Banks...
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