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Millennium targets over-50s with financial services directory

LONDON - Direct marketing agency Millennium is launching a financial services directory targeted at older consumers.

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The quarterly Essential Finance Guide is a directory of financial services containing news and information from a range of companies. The first issue is due to go out at the end of September.

Fiona Hought, managing director of Millennium, said the guide had been produced following feedback from the financial services industry, which indicated a need for more innovative ways to reach older consumers.

The guide will be personalised and initially sent out with a mailing to 250,000 50- to 69-year-olds in the BC1/C2 demographic, all of whom have credit cards and savings accounts. The list is based on specialist questionnaires, surveys and telemarketing activity.

Research by Millennium into financial planning by older people has found that more than 70% of over 50s have not taken any independent financial advice, a statistic Houghton described as "alarming".

Hought said: "In the current economic climate, financial planning has never been so important, especially in the mature market. The guide allows financial providers to target the mature market with specific financial products and services in a cost effective way."

Readers of the guide can call an 0800 number supplied by Millennium to contact the companies advertised, and the results will be fed to financial partners contributing to the guide.

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