Q4 2015 - Practical Perspectives Strategic Opportunities Report - Advisors Working with Retirement Clients

Individual retirement clients form the foundation for most financial advisor practices. These include clients already retired, those nearing retirement, and others who are still accumulating assets in anticipation of retiring at some later time. While retirement today may not look the same as for prior generations, the need has never been greater for professional assistance in planning for and navigating longer, more active, and less linear lifespans. Asset managers, insurance companies, broker-dealers, custodians, and third parties such as software or information sources all recognize the important role of advisors in serving retirement clients and offer products, resources, and capabilities to assist advisors in working with these investors.
 
It is with this context that Practical Perspectives, a leading consulting and research firm, examines how advisors work with individual retirement clients. This new 108 page, 87 exhibit report builds on prior studies and offers detailed, data driven observations and trends related to the challenges advisors face in serving retirement clients, the topics of greatest interest for additional support, and the vehicles and solutions advisors are likely to rely on going forward. The analysis is based on proprietary research fielded in October 2015 and looks at specific elements of working with retirement clients for advisors in key segments including RIA, full-service, and independent channels as well as other opportunity segments such as variable annuity users. Input from more than 850 advisors is used as the basis for the report. 

Key Topic Areas of Advisors Working with Retirement Clients
Delivery of Retirement Support and Products Used

• What types of support do advisors typically provide to individual retirement clients?
• What vehicles and solutions do advisors most often recommend?
• How widely do advisors implement various vehicles and solutions across their base of clients?
  
• How is the use of various vehicles and solutions for retirement clients expected to change?

Key Challenges and Needs in Working with Retirement Clients

• What are advisors most critical needs for additional support?
• To what extent do advisors need additional support related to key aspects of working with retirement clients?
• What are the most significant challenges in key areas such as managing investments, client engagement, and building a practice to serve these investors?
• What topics are most important for advisors to receive additional help?
  
• What changes could improve the usefulness of support advisors receive?

Trends in Working with Retirement Clients

• What sources do advisors rely on most for support and how useful is that support?
• Which specific firms offer the most useful retirement-related support?
• To what extent do advisors specialize in retirement support and how large a share do these investors represent?
• How is the number of individual retirement clients served changing and expected to change?
• Which income-oriented approaches do advisors rely on most for retirement clients?
  
• What sources of planning software/tools and of sales support do advisors rely on most when working with these investors?

Ordering the Report
The study is available in PDF format for the subscription price of $5,950. To order the complete 108 page, 87 exhibit report or for more information, please contact: Howard Schneider, 978-590-7290 or email howard.schneider@practicalperspectives.com