City workers focus more on A-Day than fast cars

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Despite receiving bonus payments of more than £1m, many City professionals will be taking advantage of the A-Day changes instead of buying fast cars and big yachts, claims Route Wealth Management.

It suggests although a typical City employee will earn more in 10 years than most people over 40, they realise their City careers may be relatively short, with more and more people planning to be free of the City and retire within the next five to 10 years, which means a much greater focus on pensions and investment earlier in their careers. Route Wealth Management points out, looking after the financial needs of this type of client means more creative advice around tax minimisation, sheltering income and input on a range of investments either directly or collectively. It says while the...

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