The graph that shows why this country need IFAs

It drew a gasp from the room full of financial advisers when it was shown to them yesterday.

But the Department for Work and Pensions (DWP) graph below was not widely circulated when it was published last year.

Shown at a SimplyBiz conference held for advisers in London on Wednesday, the simple bar graph may illustrate why this country needs independent financial advisers more than ever.

So, what did it show? Well, here is the graph (click HERE for a larger version):

It demonstrates how the number of 65-year-olds - the UK's current fixed retirement age - will increase by some 150,000 people (to about 750,000) between 2011 and 2012.

This is a direct result of the post-WWII baby boom.

Each bar in the grap above illustrates the difference in the number of people set to retire in that year versus the year before.

As Martin Olive from Partnership explained, it showed the opportunities available to IFA to help people deal with their retirement needs.

"There are more people retiring, more options and the need for advice is this growing marketplace is greater than it has been previously," he said.