Royal baby frenzy: Which financial firms have already jumped on the PR bandwagon?


Financial services firms have greeted the royal birth with dire warnings about the future health, wealth and life expectancy of the new prince in a series of hyped-up press releases.

As the majority of the nation basked in a happy glow of a new heir to the British throne, financial services firms were busy finding tenuous research related to the birth.

Many companies use big news to try and promote themselves and firms have fired off warnings about the new prince’s life expectancy, retirement provision and chances of buying his first home.

Legal & General got the ball rolling with cheery predictions about when the baby, less than 24 hours old, may die.

It estimates there is an 85 per cent chance the baby with live beyond the Queen’s current age of 87 and a 75 per cent chance of living beyond the Duke of Edinburgh’s current age of 92.

He apparently also has a 30 per cent chance of living beyond his great great grandmother, Queen Elizabeth the Queen Mother’s age of 101.

L&G head of longevity risk Joseph Lu says: “It is wonderful news that the royal baby will hopefully live a long and happy life. However, we estimate that less than a third of people can expect to spend their retirement in good health.”

Towry is even more pessimistic about when the new-born will die, predicting he only has a one in four chance of living to age 100.

In addition Towry estimates a baby born today would need a pension pot of £3m for a comfortable retirement if they live to 100.

Towry head of advice policy Kate Turner says: “Most baby boys born in July 2013 may not have the same financial benefits afforded to the prince and so parents, and even grandparents, should consider starting the savings process for their children, or grandchildren, as soon as they are able to.”

Then there is a buying a house, of course. Aldermore savings business managing director Simon Healy has some happy advice for the new parents.

He says: “For any child, it’s never too early to start saving, so William and Kate should be aware of the options on the market as they plan for the little prince’s future.”

For William and Kate the financial challenges of buying a home or saving for retirement are irrelevant.

However, if you’re a new parent today maybe the best advice is to just steer clear of financial services PR guff and try and enjoy the moment for a while longer!

Samuel Dale is politics reporter at Money Marketing