Advisor Value A Voya Retirement Research Institute Study quantifies the benefits of working with a financial advisor
|
|
- Virginia Phelps
- 8 years ago
- Views:
Transcription
1 Advisor Value A Voya Retirement Research Institute Study quantifies the benefits of working with a financial advisor
2 In the Voya Retirement Revealed1 study of 4,050 working Americans, just 28% of study respondents work with a financial advisor. And yet working regularly with a financial advisor can have a profoundly positive end result on retirement and investment behaviors, actions, confidence and results. All data in this report were revealed in that study. ii I 1 Partnering with ORC International, The Voya Retirement Research Institute examined attitudes and activities of 4,050 adults age with a household income of $40,000 or higher, who were employed full time. Data gathering via an online panel took place in the Fall of 2011.
3 We often behave in ways that aren t good for us. With respect to retirement and investment, that can be especially true. For example, studies show that individuals often hesitate to address and seek help for their financial futures, including retirement, despite strong evidence that working with a professional can increase knowledge, confidence and lead to better savings habits and potential longer-term results. In this report Retirement Savings...2 Confident and In Control Investors...4 Retirement Expectations...6 Goals and Planning: Long- and Short-term...8 Credit Where (and When) It s Due...10 Summary: Advisors Add Value...11 I 01
4 Using an advisor increases the likelihood that an individual will maximize retirement plan contributions. Retirement Savings Consulting a financial advisor produces higher utilization and better participation in employer-sponsored retirement savings plans. Availability of employer-plans (such as 401(k)s) is roughly the same for those who do and do not use advisors (90% and 88%, respectively). Use of employer plans, however, is higher for individuals who work with a financial advisor: Use an advisor Don t use an advisor Have ever contributed to an employersponsored retirement savings plan Currently contributing to an employersponsored retirement savings plan 92% 86% 80% 74% People who use an advisor also contribute higher percentages of pay to their current employers plans. Employer Plan Contribution % of pay They are also slightly more likely to be contributing to receive the full employer match, 74% to 71%, and to be contributing or more of pay, 8% vs 5%. Individuals who use an advisor are also less likely than those who don t to report that they contribute only what they can afford to their retirement plans. They are also slightly less likely to report that the match minimum determines their participation level. It s important to note that, while contributing at least to the match level is generally a good DC plan behavior, it may also anchor a contribution at a relatively low percentage (when the match is set at a lower percent). On the other hand, individuals who consult with an advisor are significantly more likely to contribute the maximum allowed to their employer plans. (Very few, whether or not they use an advisor, report that they anchor at an automatic contribution level established by an employer) 02 I
5 Contribute (to Employer Plan) What I can afford 45% 51% Maximum allowed Minimum for a full match 28% 19% 21% Amount set by my employer 7% 8% Nearly a quarter of all individuals in this study who go it alone (do not work with an advisor) have an employer plan account balance of less than $10,000; people who do work with an advisor are 10% less likely to have this lowest account balance. At the other end of the spectrum people who work with an advisor are twice as likely to have an employer account balance of $200,000 or more. Employer Plan Employer Account Plan Balance Account Balance 25% % of participants 15% 10% 5% 0% <$10,000 $10,000 - $24,999 $25,000 - $49,000 $50,000 - $74,999 $75,000 - $99,999 $100,000 - $199,000 $200, % 19% 18% 10% 7% 13% 9% 13% 17% 16% 11% 8% 16% 19% Average account balance Working with an advisor significantly increases the likelihood that an individual will also have additional (i.e. non-employer-plan) retirement savings. 90% of advisorassisted individuals report additional retirement savings, versus just 70% of selfdirected savers. And the amount saved, within and outside of an employer plan, is higher for those who use advisors. Total Average Retirement Savings Average Contribution to Employer Plan: Use an advisor: 10% Don t use an advisor: 8% I 03
6 Use of an advisor can increase feelings of control and confidence in understanding how to pursue one s retirement goals. At the same time, it can also reduce expectations of guidance from employers. Confident and In Control Investors Seeking advice can increase an individual s sense of control a critical component of retirement investing. People who use advisors are more likely to feel in control of their retirement investment. At the same time, they were less likely to expect more from their employers in terms of retirement education and guidance. Feel in Control of Feel in Control of Employer-Plan Investment Employer-Plan Investment 77% 71% 42% Expect More Retirement Expect More Retirement Education from Employer Education from Employer 49% Use Know Advisor How to Achieve Retirement Goals Know How to Pursue Achieving Retirement Goals 79% 58% People who choose to invest without the guidance of an advisor are highly risk-averse; 39% characterize themselves as conservative investors, vs. 19% of advisor-assisted individuals. At the other end of the spectrum, however, advisor use does not appear to impact aggressive investment style; 13% of those who use an advisor and 12% of those who don t consider themselves Aggressive investors. Investment Style Investment Style 67% 39% 48% 19% 13% 12% Conservative Moderate Aggressive 04 I
7 Most people do feel that there s something in the way of letting them save as much as they d want, that they have barriers to saving. Advisors, however, can help people overcome those barriers; 60% of people who use an advisor report that something gets in the way of saving, but that saving-challenged percent jumps to 78% of individuals who don t use an advisor. For all, Insufficient Income is the most significant barrier. Barriers to Retirement Saving Barriers to Retirement Saving Most have barriers to saving 78% 60% Don t use an advisor Use an advisor Insufficient income 31% 35% High debt Don't know what my options are 10% 13% 18% 27% Advisor use appears most impactful in migrating investors from Conservative to Moderate investment styles. Don't have access to a financial professional 1% 4% Generally, people who use advisors feel more empowered to save. Debt is a far more significant savings barrier for those who do not use an advisor than it is for those who do regularly consult advisors. I 05
8 Individuals who use advisors spend more time thinking about retirement. Those who do not use an advisor are twice as likely (than those who do) to say that they spend no time thinking about retirement. Retirement Expectations Sixty-six is the magic number when it comes to overall anticipated retirement age. People who work with an advisor plan, on average, retire at age 66.8 and those who don t use an advisor hope to retire at Individuals who use an advisor, however, may be more realistic and better prepared to reach that goal. They are significantly more likely to have formally calculated how much they will need to save for and fund retirement, and to have a formal, written plan to help them get there. Time Thinking About Retirement Time Thinking About Retirement 60% 50% 40% 30% 10% 0% A lot Some A little None 8% 36% 47% 9% 5% 27% 50% 18% 06 I
9 Calculating and Planning Retirement Calculating and Planning Retirement 59% 37% Have calculated how much needed to retire 52% Have a formal retirement investment plan Spending time with an advisor increases the amount of time people spend thinking about retirement and the likelihood that they will have calculated and documented their savings and retirement needs and goals. Regardless of advisor use, people are most worried about healthcare costs in retirement. Working with an advisor results in probably realistically increased awareness of the potential of healthcare expenses to compromise retirement. People who work with an advisor are also slightly more fearful about experiencing another financial crisis in retirement but significantly more confident about not having to return to work because they ve run out of savings. Those who don t regularly consult an advisor are somewhat more concerned about having to return to work out of economic necessity. Greatest Fears About Retirement Greatest Fears About Retirement Healthcare costs Experiencing another financial crisis Having to return to the workforce because I run out of savings Having to rely on my children for financial support Not having anything to pass on to my children or grandchildren 6% 8% 6% 8% 24% 21% 18% 24% 45% 39% Feelings of Preparedness for Retirement Feelings of Preparedness for Retirement 59% 14% 5% 38% 36% 7% 21% Very Somewhat Not very Not at all I 07
10 People who work with advisors are more likely to say that their primary use of discretionary income is to additional savings; those who do not use an advisor are more likely to allocate to entertainment and extras. Goals and Planning: Long- and Short-term Advisor clients are better equipped to deal with life s unexpected and financially unpleasant surprises. They are significantly more likely to have an emergency fund, and that fund is larger than for those who forgo using an advisor. Months Salary in Emergency Reserve Months' Salary in Emergency Reserve 50% 40% 30% 10% 0% 1 month 3 months 6 months+ 25% 25% 28% 17% 30% 43% Debt is a bigger issue for people who don t work with an advisor; they are more likely to say that their ability to save is impeded by debt, as well as that reducing debt is a primary short-term financial goal. Individuals who work with advisors are more likely to be able to focus on more positive short-term goals: Building an emergency fund, or even saving for a vacation. Primary Short-term Financial Goal Primary Short- term Financial Goal Use Advisor No Advisor Reducing debt 46% 57% Crea9ng an emergency fund Saving for a vaca9on PuAng a down payment on a house 29% 22% 19% 13% 7% 8% Most respondents do report that they have at least some regular discretionary income, after regular bills and financial obligations are met on a regular basis, 91% who use advisors and 85% of those who don t. For those who use an advisor, more of those extra dollars are dedicated to saving. Primary use of Discretionary Income 08 I
11 Retirement is, for all, a primary long-term goal, but significantly more so for advisor-guided investors. Debt, again, emerges as a bigger barrier for individuals who do not use advisors. Primary Long-term Financial Goal Primary Long-term Financial Goal Saving for retirement Paying off debt Purchasing or owning a home College tuition for my children 6% 11% 15% 23% 8% 10% 53% 67% Passing money to my children 4% 2% What s more, individuals using an advisor are twice as likely to report that they are on track to meet their retirement goals. Financial Goal Status 55% 57% 42% 27% 16% 2% Met my goals or on track to retire when I want to. Just warming up; just started and have a long way to go On the sidelines; not started yet I 09
12 Participants age 50 and older can make catch-up contributions to their DC plans, yet very few of them do so. Credit Where (and When) It s Due Credit cards are a fact of life in today s economy and have both beneficial and potentially harmful uses. People who consult with financial advisors appear to be more likely (than those who don t) to practice productive credit use, using cards to accumulate points or credits, maintain accurate records and to make online travel purchases. On the other hand, they are less likely to say they use cards to pay for something they could not otherwise afford, and demonstrate much more credit-responsible payment habits. They are roughly half as likely as non-advisorconsulted individuals to maintain running credit card balances; and two-thirds (64%) pay off credit cards every month. Why Use Credit Cards Why Use Credit Cards Use Advisor No Advisor Shop Online To book travel To accumulate points To pay for gas Prefer not to carry cash To build credit To pay bills To get a credit for opening a store card To buy something I normally couldn't afford To keep accurate financial records To accumulate non- point rewards I chose not to use my credit cards 3% 4% 17% 19% 17% 24% 25% 25% 39% 31% 37% 36% 34% 29% 47% 44% 58% 56% 61% 51% 54% 64% 65% Credit Card Payment Practice Credit Card Payment Practice Pay it in full every month 45% 25% 30% Pay it off over the course of several months 64% 16% Always keep a running balance 10 I
13 Summary: Advisors Add Value People who regularly use advisors are highly reliant on them. Three-quarters rely on them for holistic, full-picture financial guidance, and two-thirds say that a financial professional is their primary source of financial guidance and advice, compared to just 8% of non-advisor-users who rely on professional advice. Main Source of Financial Guidance Main Source of Financial Guidance 57% 67% 8% 10% 25% In addition to better credit card use and payment habits, people who work with an advisor carry a lower average credit card balance: $5,958 vs. $6,667. Personal research / internet / media Financial professional Family / friends Individuals who don t use financial advisors are more likely to rely on their own resources in the financial decision-making process but don t appear to be better off for it. They save less, have less saved, and are less likely to practice responsible credit behaviors. They are less confident about their financial situations and futures, and their retirement prospects. Still, actively consulting an advisor on a personal and regular basis may or may not be practical for many individuals. Today, advice and guidance are available in many shapes and forms, often in conjunction with a workplace retirement arrangement or plan. These services can range from professionally managed portfolios via Target Date or Balanced Funds to holistic Managed Account guidance and/or portfolio management to full-service on-line, phone-based or in-person financial planning. There is likely a flavor or advice or guidance for nearly everyone. The challenge is getting more people to the table to have a taste. Visit for additional Retirement Revealed insights and reports I 11
14 Notes 12 I
15 I 13
16 Additional copies of this report can be downloaded at the Voya Retirement Research Institute This paper has been prepared by the Voya Retirement Research Institute for informational purposes. Nothing contained herein should be construed as (i) an offer to sell or solicitation of an offer to buy any security or (ii) a recommendation as to the advisability of investing in purchasing or selling any security. Any opinions expressed herein reflect our judgment and are subject to change. Certain of the statements contained herein are statements of future expectations and other forward-looking statements that are based on management s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (1) general economic conditions, (2) performance of financial markets, (3) interest rate levels, (4) increasing levels of loan defaults, (5) changes in laws and regulations and (6) changes in the policies of governments and/or regulatory authorities. The opinions, views and information expressed in this commentary are subject to change without notice based on market conditions and other factors. The information provided is not a recommendation to buy or sell any security. Products and services offered through the Voya Financial family of companies X.G Voya Services Company. All rights reserved. CN Voya.com
Working with an advisor: Improved Retirement Savings, Financial Knowledge and Retirement Confidence! Your future. Made easier.
I N S I G H T S F R O M Working with an advisor: Improved Retirement Savings, Financial Knowledge and Retirement Confidence! ING research highlights the value of working with a financial advisor > People
More informationThe Voya Retire Ready Index TM
The Voya Retire Ready Index TM Measuring the retirement readiness of Americans Table of contents Introduction...2 Methodology and framework... 3 Index factors... 4 Index results...6 Key findings... 7 Role
More information2014 MILLENNIALS RESEARCH STUDY
2014 MILLENNIALS RESEARCH STUDY In response to interest about the financial needs and challenges of younger employees, Voya Financial conducted an online survey among roughly 2000 young adults aged 20-34
More informationReady. Set. Retire. Exploring the path to and through retirement. A Retirement Experience study from the Voya Retirement Research Institute.
Ready. Set. Retire. Exploring the path to and through retirement. A Retirement Experience study from the Voya Retirement Research Institute. Ready. Set. Retire. This study is a fresh look at the experience
More informationOpening a door: Peering inside retirement
Opening a door: Peering inside retirement For Americans of all ages, retirement is a primary long-term savings goal. And measuring up to our peers can be a powerful motivator to save and hopefully to retire
More informationRetirement: Get Ready...1 Why planning makes sense...1 Where are you?...2 Getting Started: 20 s and early 30 s...3
Retirement: Get Ready...1 Why planning makes sense...1 Where are you?...2 Getting Started: 20 s and early 30 s...3 On Your Way: Mid-30 s to early 40 s...4 Crunch Time: Mid-40 s to early 50 s...5 Just Around
More informationThe Ariel/Schwab Black Investor Survey:
The Ariel/Schwab Black Investor Survey: Saving and Investing Among Higher Income and Americans Ariel Investments, LLC and The Charles Schwab Corporation are non-affiliated entities, but co-sponsor the
More informationMatters of Fact Consumers, Advisors, and Retirement Decisions (and Results)
May, 2015 Matters of Fact Consumers, Advisors, and Retirement Decisions (and Results) A timely data summary from the LIMRA Secure Retirement Institute to help our members plan, respond, and react with
More information5 STEPS TO TAKE CONTROL OF YOUR FINANCIAL SECURITY
5 STEPS TO TAKE CONTROL OF YOUR FINANCIAL SECURITY What would it take for you to feel financially secure? A more stable job? Being debt free? Having millions in the bank? No matter how it s defined, we
More information2/3 81% 67% Millennials and money. Key insights. Millennials are optimistic despite a challenging start to adulthood
2/3 Proportion of Millennials who believe they will achieve a greater standard of living than their parents 81% Percentage of Millennials who believe they need to pay off their debts before they can begin
More information2012 HOUSEHOLD FINANCIAL PLANNING SURVEY
2012 HOUSEHOLD FINANCIAL PLANNING SURVEY A Summary of Key Findings July 23, 2012 Prepared for: Certified Financial Planner Board of Standards, Inc. and the Consumer Federation of America Prepared by: Princeton
More informationEXECUTIVE SUMMARY FINANCIAL LIFE STAGES OF OLDER CANADIANS ONTARIO SECURITIES COMMISSION
EXECUTIVE SUMMARY FINANCIAL LIFE STAGES OF OLDER CANADIANS ONTARIO SECURITIES COMMISSION EXECUTIVE SUMMARY This research identifies the top financial concerns of older Canadians and places them in the
More informationSaving and Investing Among Higher Income African-American and White Americans
The Ariel Investments 2010 Black Investor Survey: Saving and Investing Among Higher Income African-American and Americans July 21, 2010 1 For further information, contact Merrillyn J. Kosier at Ariel Investments
More informationOnline Survey of Employees Without Workplace Retirement Plans
Online Survey of Employees Without Workplace Retirement Plans Report of Findings Conducted for: State of California October 2015 Prepared by Greenwald & Associates 2015 1 Table of Contents Methodology
More informationDC INVESTOR SURVEY. Biannual Report. Financial stress impedes employees ability to take action and hurts the corporate bottom line.
March 2015 DC INVESTOR SURVEY Biannual Report Financial stress impedes employees ability to take action and hurts the corporate bottom line ii About the Biannual DC Investor Survey Biannual DC Investor
More informationSun Life Canadian Unretirement Index
Sun Life Canadian Unretirement Index 2015 Canadian Unretirement Index Report Life s brighter under the sun Table of contents About the Sun Life Canadian Unretirement Index... 2 Will you be working at
More informationSaving For Retirement? Start by Paying Off Your Credit Cards
Saving For Retirement? Start by Paying Off Your Credit Cards David Blanchett, CFA, CFP Head of Retirement Research Morningstar s Investment Management division August 16, 2012 Introduction Credit cards
More informationChina s Middle Market for Life Insurance
China s Middle Market for Life Insurance May 2014 Sponsored by: SOA International Section SOA Marketing & Distribution Section SOA Research Expanding Boundaries Pool The opinions expressed and conclusions
More informationSOCIETY OF ACTUARIES THE AMERICAN ACADEMY OF ACTUARIES RETIREMENT PLAN PREFERENCES SURVEY REPORT OF FINDINGS. January 2004
SOCIETY OF ACTUARIES THE AMERICAN ACADEMY OF ACTUARIES RETIREMENT PLAN PREFERENCES SURVEY REPORT OF FINDINGS January 2004 Mathew Greenwald & Associates, Inc. TABLE OF CONTENTS INTRODUCTION... 1 SETTING
More informationMay 2015. Missing out: How much employer 401(k) matching contributions do employees leave on the table?
May 2015 Missing out: How much employer 401(k) matching contributions do employees leave on the table? Table of contents Introduction Executive summary 1 Role of employer 401(k) matching contributions
More information2015 Wells Fargo Retirement Study
2015 Wells Fargo Retirement Study Table of contents Overview 1 Key findings 2 Background and methodology 8 Harris Poll conducted the survey online of 1,993 affluent investors, ages 30 75 who have $250,000
More informationUBS Investor Watch. What is wealthy? Top insights: Analyzing investor sentiment and behavior 3Q 2013
UBS Investor Watch Analyzing investor sentiment and behavior 3Q 2013 What is wealthy? Top insights: 1. Wealth equals no financial constraints on activities 2. Cash is still king 3. Investors control risk
More informationThe 2009 Consumer Financial Literacy Survey Final Report. The National Foundation for Credit Counseling
The 2009 Consumer Financial Literacy Survey Final Report Prepared For: The National Foundation for Credit Counseling Prepared By: Harris Interactive Inc. Public Relations Research Summary At this time
More informationTHE EMERGING RETIREMENT CRISIS
THE EMERGING RETIREMENT CRISIS PART ONE Ontarians Rank Retirement Income Security as a Top Concern 1 // THE EMERGING RETIREMENT CRISIS: PART ONE Letter from Jim Keohane, HOOPP Dwindling pension coverage
More informationShared Dollar Life Insurance: Insuring Adult Children to Build Retirement Funds
Shared Dollar Life Insurance: Insuring Adult Children to Build Retirement Funds What Will Retirement Look Like for Our Children? If you are like most working people, from time to time you think about retiring.
More informationHow To Be Financially Successful
Employee Financial Wellness Survey 2015 results April 2015 Retirement Employer benefits Financial stress Investing Cash and debt management Risk management About this survey PwC s Employee Financial Wellness
More informationPrepared by the National Association of Insurance Commissioners. This guide does not endorse any company or policy.
Prepared by the National Association of Insurance Commissioners The National Association of Insurance Commissioners is an association of state insurance regulatory officials. This association helps the
More informationDetermining your investment mix
Determining your investment mix Ten minutes from now, you could know your investment mix. And if your goal is to choose investment options that you can be comfortable with, this is an important step. The
More informationParticipant Preferences in Target Date Funds: Fresh Insights
Participant Preferences in Target Date Funds: Fresh Insights Findings, Insights and Opportunities White Paper January 216 Research by Voya Investment Management Not FDIC Insured May Lose Value No Bank
More informationThe underrated impact of taxes on retirement
The underrated impact of taxes on retirement Research study Nearly one out of every three dollars spent by high-income retirees goes to taxes, according to a study by Lincoln Financial Group. Most future
More informationHousehold Trends in U.S. Life Insurance Ownership
Household Trends in U.S. Life Insurance Ownership Full Report Cheryl D. Retzloff, LLIF, ACS Markets Research 860-285-7738 cretzloff@limra.com Maximize the Value of LIMRA Research The value of LIMRA research
More informationFixed Deferred Annuities
Buyer Buyer s Guide to: s Guide to: Fixed Deferred Annuities Prepared by the Prepared by the National Association of Insurance Commissioners The National Association of Insurance Commissioners is an association
More information2014 Wells Fargo Millennial Study
2014 Wells Fargo Millennial Study Overview Table of contents Overview 1 Key findings 2 Background and methodology 7 The contents of this report are for information purposes only. They should not be construed
More informationAn Educational Guide. MassMutual s State of the American Mom
An Educational Guide MassMutual s State of the American Mom The majority of household financial decisions are made by moms, and with over 85 million in the United States,* this group of women can be very
More informationTIAA-CREF IRA Survey Executive Summary March 18, 2015
TIAA-CREF IRA Survey Executive Summary March 18, 2015 1 . TIAA-CREF Survey: Despite Low Contributions, More Americans Will Consider IRAs in Their Retirement Planning According to a new TIAA-CREF survey,
More informationExecutive Summary. 3 Attracting ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Visa Small Business REPORT AUGUST 0 Spend Insights Visa Small Business Spend Insights monitors the economic confidence of U.S. small business owners by analyzing Visa Business card spend data and responses
More informationLife Insurance Buyer s Guide
Life Insurance Buyer s Guide This guide can help you when you shop for life insurance. It discusses how to: Find a Policy The Meets Your Needs and Fits Your Budget Decide How Much Insurance You Need Make
More informationRetirement income planning Get ready. Take control. Start moving.
Retirement income planning Get ready. Take control. Start moving. Your future is too important to leave it to chance. That s why taking control of your retirement with an organized, practical approach
More informationInvestment Policy Questionnaire
Investment Policy Questionnaire Name: Date: Ferguson Investment Services, PLLC Investment Policy Questionnaire Introduction: The information you provide on this questionnaire will remain confidential.
More informationListen in on the discussion about retirement savings in CHECKMATE! WORKPLACE SAVINGS PLANS HELP CANADIANS WIN IN RETIREMENT MARCH 2014
MARCH 2014 CHECKMATE! WORKPLACE SAVINGS PLANS HELP CANADIANS WIN IN RETIREMENT Our sixth annual Canadian Unretirement Index shows, those Canadians who don t participate in a workplace savings plan are
More informationINDEPENDENT ADVISOR OUTLOOK STUDY contacts:
INDEPENDENT ADVISOR OUTLOOK STUDY contacts: November 2014 Media Contacts Anita Fox Sarah Gormley Charles Schwab The Neibart Group 510-289-9155 718-875-2122 Anita.Fox@schwab.com sas@neibartgroup.com For
More informationFinancial Planning GUIDE
Financial Planning GUIDE FOTOLIA FULL PAGE FINANCIAL PLANNING STARTING OUT Marriage and Money Marriage is not solely the unification of love, it also is the merging of finances. Even if you plan on keeping
More informationTips for potential Capital Market Investors
Tips for potential Capital Market Investors A financial advisor once told It doesn t matter how good of job someone has, if they want to acquire wealth in this life, at some point they are going to have
More informationPH&N LifeTime Funds. Frequently Asked Questions
Frequently Asked Questions PH&N LIFETIME FUNDS Your One-Fund Retirement Solution 1. What are target date funds? Target date funds offer a single-fund investment solution to help investors manage their
More informationUnderstanding annuities
ab Wealth Management Americas Understanding annuities Rethinking the role they play in retirement income planning Protecting your retirement income security from life s uncertainties. The retirement landscape
More informationAccounting Principals Workonomix Survey Series: Post-Graduation Debt & Spending. June 19, 2012
Accounting Principals Workonomix Survey Series: Post-Graduation Debt & Spending June 19, 2012 Survey Background Background Accounting Principals polled 507 recent grads with a four-year degree about their
More informationTax Policy and Middle-Income Boomers. The Importance of Tax Deferral in Attaining Retirement Security
Tax Policy and Middle-Income Boomers The Importance of Tax Deferral in Attaining Retirement Security March 2012 About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is a not-for-profit
More informationYou, Your Advisor & Retirement Management Systems
Savings Plan Management An asset allocation and rebalancing program for your company-sponsored retirement account. You, Your Advisor & Retirement Management Systems Saving for Retirement Through Your Employer-Sponsored
More informationBudgeting: Managing Your Money with a Spending Plan
Budgeting: Managing Your Money with a Spending Plan Budgeting: Managing Your Money with a Spending Plan Are you making the best use of your money? Do you have a handle on how much comes in each month and
More informationDetermining your investment mix.
Determining your investment mix. Ten minutes from now, you could know your investment mix: And if your goal is to choose investment options that you can be comfortable with, this is an important step.
More informationUnderstanding annuities
Wealth Management Americas Understanding annuities Rethinking the role they play in retirement income planning Helping to protect your retirement income security from life s uncertainties. The retirement
More informationThe FPA and Ameriprise Value of Financial Planning study: Consumer Attitudes and Behaviors in a Changing Economy
The FPA and Ameriprise Value of Financial Planning study: Consumer Attitudes and Behaviors in a Changing Economy Conducted by Harris Interactive Consumer confidence is near historic lows, yet one group
More informationFilling the Retirement Income Gap
Filling the Retirement Income Gap A prospectus for the Fund containing more complete information may be obtained from your authorized dealer or from Goldman, Sachs & Co. by calling 800-526-7384. Please
More informationSLUG HERE MOVING NEEDLE THE
SLUG HERE MOVING THE NEEDLE Tips for building financial wellness programs to reduce employee stress and boost productivity plus insights from our latest investor survey 12 The Participant Winter/Spring
More informationFinancial Planning Basics Financial Planning Fundamentals
Financial Planning Basics Financial Planning Fundamentals An Overview of the Financial Planning Process The Ground to Cover Setting goals Budgeting Emergency fund Insurance Using credit Investing Tax planning
More informationIncome, Expenses and Budget module
Income, Expenses and Budget module Trainer s introduction The skills to control your personal income, expenses and budget are the most basic tools that people need in their financial toolkit. But many
More informationInvestment Personality Test
Investment Personality Test Please note: This test is not a substitute for personal consultation and advice. It is meant for informational purpose only. Part 1 Please answer the following questions. Numbers
More informationU.S. Trust Insights on Wealth and Worth TM. Survey of High Net Worth and Ultra High Net Worth Americans 2011 Highlights
U.S. Trust Insights on Wealth and Worth TM Survey of High Net Worth and Ultra High Net Worth Americans 2011 Highlights Table of contents I. Important Disclosures 3 II. Introduction 4 III. Highlights 5
More informationRetirement Planning EMPLOYER PLANS CALCULATING YOUR NEEDS INVESTMENTS DECISIONS
GOALS What You Should Know About... Retirement Planning EMPLOYER PLANS CALCULATING YOUR NEEDS INVESTMENTS DECISIONS YourMoneyCounts No matter who you are or how much money you have, you re probably hoping
More informationLife Insurance Buyer's Guide
Life Insurance Buyer's Guide This guide can help you when you shop for life insurance. It discusses how to: Find a Policy That Meets Your Needs and Fits Your Budget Decide How Much Insurance You Need Make
More information2 nd Annual CAP Member Research
2 nd Annual CAP Member Research Presented by: Tricia Benn Director of Research, Business and Professional Research Group Rogers Publishing October, 2007 Agenda Summary Of Findings Methodology Demographic
More informationName Birthday SS# Occupation Wk Phone. Adult-1. Adult-2. Address. Phone Cell Cell Goals:
GENERAL DATA SHEETS Name Birthday SS# Occupation Wk Phone Adult-1 Adult-2 Child-1 Child-2 Child-3 Address Adult-1 Adult-2 Phone Cell Cell Goals: At what age would you like to retire? How would you spend
More informationInvestor Profile Questionnaire
Investor Profile Questionnaire Making the right investment choice about your universal life investment portfolio always starts with an understanding of your personal goals and objectives. Working with
More informationA FIVE-STEP CHECKLIST FOR RETIREMENT INCOME PLANNING
77 Access Road, Suite 6, Norwood, MA 02062 Tel (781) 278-9488 Fax (781) 278-9489 www.proficientwealth.com A FIVE-STEP CHECKLIST FOR RETIREMENT INCOME PLANNING STEP 1 Expense Inventory Estimate monthly
More informationSun Life Canadian UnretirementTM
Sun Life Canadian UnretirementTM Index 2013 Canadian Unretirement Index Report Life s brighter under the sun Table of contents Five years of the Canadian Unretirement Index 2 Section 1: A late retirement
More informationBoomer Expectations for Retirement 2015. Fifth Annual Update on the Retirement Preparedness of the Boomer Generation
Boomer Expectations for Retirement 2015 Fifth Annual Update on the Retirement Preparedness of the Boomer Generation April 2015 About the Insured Retirement Institute: The Insured Retirement Institute (IRI)
More informationRisk Profile & Capacity For Loss Questionnaire Investment
Risk Profile & Capacity For Loss Questionnaire Investment The tendency for investments to rise or fall in value is known as volatility. Volatility is the opposite of stability. The more volatile an investment,
More informationTarget Date Fund Selection: More Than Simply Active vs. Passive
Target Date Fund Selection: More Than Simply Active vs. Passive White Paper October 2015 Not FDIC Insured May Lose Value No Bank Guarantee INVESTMENT MANAGEMENT Table of Contents Executive Summary 2 Introduction
More information18 March 2013. The Online Investing Knowledge Gap 2013 Investment Literacy Survey
18 March 2013 The Online Investing Knowledge Gap 2013 Investment Literacy Survey Table of Contents Introduction and Executive Summary... 3 Key Findings... 3 Methodology... 4 Breakdown of Survey Results...
More informationHow To Help Your Employees Achieve Financial Wellness
RETIREMENT & BENEFIT PLAN SERVICES WORKPLACE INSIGHTS TM Workplace Benefits Report Employers changing role in helping employees achieve financial wellness December, 2013 Leading-edge employers are charting
More information9 TH ANNUAL COLLEGE SAVINGS INDICATOR EXECUTIVE SUMMARY OF KEY FINDINGS
9 TH ANNUAL COLLEGE SAVINGS INDICATOR EXECUTIVE SUMMARY OF KEY FINDINGS INTRODUCTION This summary presents key findings from Fidelity Investments 9th Annual College Savings Indicator Study. The study was
More informationMake a Smart Start Toward Financial Success SUNY ORANGE STUDENTS
Make a Smart Start Toward Financial Success SUNY ORANGE STUDENTS A College Education is a Smart Investment High School Graduate $25,000 Some College $30,000 Associate s Degree $32,000 Bachelor s Degree
More informationEnhancing Retirement Readiness: Consensus on a Course of Action
etirement Advisor Council Enhancing Retirement Readiness: Consensus on a Course of Action In March 2012, six members of the Retirement Advisor Council gathered to discuss the concept of retirement readiness
More informationSmall Business Plans Business owner guide
Small Business Plans Business owner guide Contents 1 Why Consider a Retirement Plan? 2 SEP Plan 4 SIMPLE IRA 6 Age-Weighted Profit Sharing Plan 8 New Comparability Profit Sharing Plan 10 Safe Harbor 401(k)
More informationMeeting the Needs of the New Financial Consumer: A Snapshot of Six Customer Segments
Meeting the Needs of the New Financial Consumer: A Snapshot of Six Customer Segments By First Data and Market Strategies International 2011 First Data Corporation. All trademarks, service marks and trade
More informationRetirement Account Rollovers
A guide to: Retirement Account Rollovers Making wise decisions for your future Insight + Process = Results SM Retiring? Changing jobs? In transition? If any of these situations apply to you and you participate
More informationA life has no meaning. Brooklyn Dodgers. Abraham Lincoln. Insurance Revealed
A life has no meaning No man except stands for the so impact tall as when it has he on other stoops lives. to help Jackie a child. Robinson, infielder, Brooklyn Dodgers Abraham Lincoln Insurance Revealed
More informationSaving and Investing Wisely
Quest Capital Management, Inc. 8235 Douglas Avenue Suite 500 Dallas, TX 75225 214-691-6090 info@questadvisor.com www.questadvisor.com Investing Basics Saving and Investing Wisely Saving builds a foundation
More information2015 Wells Fargo Affluent Investor Survey
2015 Wells Fargo Affluent Investor Survey Table of contents Overview 1 Key findings 2 Background and methodology 8 Harris Poll conducted the survey online of 1,993 affluent investors, ages 30 75 who have
More informationThe Allianz American Legacies Pulse Survey
The Allianz American Legacies Pulse Survey Exploring the impact of the financial crisis on legacy strategies Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York ENT-1371-N
More informationTarget-date funds: the to versus through dilemma
November 14 Target-date funds: the to versus through dilemma Leo M. Zerilli, CIMA Head of Investments John Hancock Investments Recent U.S. Department of Labor guidance on target-date funds provides helpful
More informationWorkers Still Uneasy About Financial Security and Retirement
Workers Still Uneasy About Financial Security and Retirement Results from Towers Watson s 2013/2014 Global Benefit Attitudes Survey By Jonathan Gardner and Steve Nyce 1 In the more than five years since
More informationlongevity Income Guarantee a safety net of lifetime income for later in life Flexible Access Version Maximum Income Version ANNUITIES income
ANNUITIES income longevity SM Income Guarantee a safety net of lifetime income for later in life Flexible Access Version Maximum Income Version MetLife Investors Longevity Income Guarantee SM is issued
More informationThe Scottrade Advisor Services Registered Investment Advisor Survey Summarizing the challenges and opportunities of the RIA industry in 2010
The Scottrade Advisor Services Registered Investment Advisor Survey Summarizing the challenges and opportunities of the RIA industry in 2010 By Christine Mistretta, principal owner of The Linden Hills
More informationSAVINGS BASICS101 TM %*'9 [[[ EPXEREJGY SVK i
SAVINGS BASICS101 TM i This book is intended as a general guide to the topics discussed, and it does not deliver accounting, personal finance, or legal advice. It is not intended, and should not be used,
More informationSaving for Retirement. Your guide to getting on track.
Saving for Retirement Your guide to getting on track. 2 It s great that you re looking ahead and thinking about retirement now. A sound plan can make all the difference in reaching your future goals. This
More informationCreating a Personal Financial Plan
Creating a Personal Financial Plan Overview Setting goals are important and often used to measure success. However, simply setting goals does not ensure you will someday accomplish them. Achieving goals
More informationRetirement Income Planning Worksheet
Retirement Income Planning Worksheet Build a comprehensive plan A straightforward resource to help gather the data you need Use this simple worksheet to get started on your retirement income plan Your
More informationTapping the $7.5 Trillion Mass Affluent Market MARKETING SERVICES
Tapping the $7.5 Trillion Mass Affluent Market MARKETING SERVICES Mass Affluents are growing in their importance to financial institutions. They ve spent a lifetime working to build successful careers.
More informationLife Insurance Buyer s Guide
Life Insurance Buyer s Guide This guide can help yyou ou when yyou ou shop for life insurance. It discusses ho w to: how Find a Policy That Meets Your Needs and Fits Your Budget Decide How Much Insurance
More informationTERM OR PERMANENT LIFE INSURANCE
TERM OR PERMANENT LIFE INSURANCE WHICH OPTION IS RIGHT FOR YOU? It s the age-old life insurance question: Should you buy term or permanent life insurance? Some personal finance experts would have you believe
More informationFinancial Experience & Behaviors Among Women
Financial Experience & Behaviors Among Women 2010 2011 Prudential Research Study TENTH ANNIVERSARY E D I T I O N A report prepared by Prudential Research 0182849-00001-00 Acknowledgment A Decade of Progress
More informationLife Insurance Buyer's Guide
Life Insurance Buyer's Guide This guide can help you when you shop for life insurance. It discusses how to: Find a Policy That Meets Your Needs and Fits Your Budget Decide How Much Insurance You Need Make
More informationFundamental Financial Planning Interview Guide
Fundamental Financial Planning Interview Guide Money Tree Software developed this fundamental guide for use with Silver Financial Planner and similar financial planning applications. For both you and your
More informationTHE TAX-FREE SAVINGS ACCOUNT
THE TAX-FREE SAVINGS ACCOUNT BY READING THIS DOCUMENT, YOU WILL: Know the different features of the TFSA Master the differences between a contribution to an RRSP or a TFSA Identify target clienteles. Last
More informationFreedom. Contentment 85% Retirement 20/20. Slowing down gradually. Volunteering Disappointment. Security. Financial stress. Excitement.
REPORT 2015 Retirement 20/20 Achieving retirement fulfillment years CELEBRATING FamilyProsperity Excitement Freedom Having to work Security Fulfilling work Slowing down gradually Boredom Financial stress
More information2015 RCS FACT SHEET #3 PREPARING FOR RETIREMENT IN AMERICA
2015 RCS FACT SHEET #3 PREPARING FOR RETIREMENT IN AMERICA Americans confidence in their ability to secure a financially comfortable retirement increased in 2015. Is this reflected in actual savings and
More informationSummer 2015. Mind the gap. Income protection gap study Western Europe
Summer 2015 Mind the gap Income protection gap study Western Europe Foreword There is growing awareness of the pension gap, but most people underestimate an even greater risk to their standard of living:
More information1. Overconfidence {health care discussion at JD s} 2. Biased Judgments. 3. Herding. 4. Loss Aversion
In conditions of laissez-faire the avoidance of wide fluctuations in employment may, therefore, prove impossible without a far-reaching change in the psychology of investment markets such as there is no
More information