Alan Johnson Hard Quotations

I would like to thank Adair Turner and his fellow commissioners for their thorough analysis of this important issue. The Commission has had a hard look at the pension system in the UK, and has set out the stark challenges we all face in providing for increasingly long retirements. This report brings home the message the Government first highlighted in the 2002 Green Paper; that people must either save more or work longer.

Getting a client who has built up liquid assets of, say, one million dollars to pay an annual, upfront fee of $10,000 is a much harder sell than the $400- to $500-per-trade transaction. The client has to be convinced of the value-added.

The fear that O'Neal probably has is complacency. He's sending a message that as hard as it is to do, they've got to step it up.