Savings collapse "linked to dwindling pensions salesforce"

Mark Wilkins, an independent mortgage and insurance broker with Equity Financial Planning, says industry figures reveal the pension industry had in excess of 200,000 salespeople in 1990, but this number has subsequently fallen by 75% to 50,000, at the same time as consumers savings have fallen. “The collapse of the national savings ratio in the UK to a current 40-year low has exactly mirrored the dramatic fall, over the last fifteen years, of the numbers of salesmen out there selling pensions and savings policies," says Wilkins. Wilkins also argues the national salesforce at the frontl...