New figures reveal that over 50s are increasingly looking to share dealing to counteract the persistent low base rate of interest. Saga Share Dealing reveals that it has seen a 80pc year-on-year increase in the number of customers opening share dealing accounts and a 30pc increase in trading volumes.
Andrew Strong, CEO Acromas Financial Services, commented: “Share Dealing probably seems a more attractive prospect at the moment because even the Bank of England says base rates will not rise quickly, or by much. So holding out for a rise in interest rates, in order to improve income, may not be the wisest decision.
“Increasing interest in share dealing suggests a growing confidence, not only in the markets, but also in the ability of investors to make their own investment decisions.”
A recent Saga poll, carried out by Populus, showed that many of Britain’s over 50s think both the FTSE 100 Index and Bank of England Base Rate will rise by the end of 2014, indicating a general increase in confidence about the markets.