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Netwealth, a wealth manager, said that new general investment accounts — taxable accounts opened by new and existing customers that would not be boosted by the looming end of the UK tax year — were up 90 per cent in the first quarter of 2020."
Our analysis of the Netwealth data shows that older people’s wealth is concentrated among those aged between 65-74, rather than spread across our older population."
Charlotte Ransom, chief executive of challenger wealth manager Netwealth, said: "As long as you have enough cash for the next 6-12 months, you don’t have to cash out and crystallise losses just because the markets are down."
Dr Gerard Lyons, chief economic strategist at Netwealth says: “…our policy response needs to be unprecedented, unlimited and urgent."
Gerard Lyons is chief economist at Netwealth: "In terms of the financial markets, equities, bonds and sterling are all falling. In part this reflects the openness of the UK economy and that many assets are foreign owned."
Sitting on cash is hard because it makes you feel like you have to do something," says Charlotte Ransom, chief executive of Netwealth, the challenger wealth manager."
Gerard Lyons, chief economic strategist at Netwealth says "A £1,000 cheque to every adult, each month, for the next three months would allow people to pay their rent and buy groceries. It could cost about 7pc of GDP. This is costly but manageable and better than the alternative."
Dr Gerard Lyons, chief economic strategist with Netwealth, "…We also need to see a monetary and financial response to reflect what’s happening in the financial markets and… provide liquidity and confidence to firms of all shapes and sizes across the country."
