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I’ve recently been reading a fair amount about The Good Life Project. This is a Harvard study from 1938 that followed the lives of people for over eight decades, asking thousands of questions and taking hundreds of measurements to find out what promotes happiness.
In my four years as CEO of Octopus Investments, this has become an intense passion of mine and it’s why my mission over the coming years is to help more people to access personalised support with their finances.
Of course, Madoff was exceptional. He was one of the biggest liars in financial history. His crime was off the scale. But dishonesty is dishonesty, and if we’re willing to tolerate little lies, we shouldn’t complain when we eventually fall for big ones.
The answer is the greater use of products which, at retirement, set people on the path towards eventual annuities.
Some assets are more expensive to hold on platforms and the benefits for the client of having them there may be negligible.