CAMBRIDGE, Mass.--(Advisor In-Retirement IncomeTM report, a study of over 400 advisors with at least 25% of their AUM focused on retirement income planning services.)--With advisors using an average of seven providers to meet the retirement income needs of clients, firms that can articulate a clear understanding of retirement income issues, help advisors manage and invest for income, and demonstrate their retirement income leadership position are most likely to stand out and be considered for future investment. These and other findings are included in the recently released Cogent Research
“This indicates a potential opportunity for providers, in particular mutual fund firms, to better demonstrate their retirement income capabilities and highlight the potential advantages in their offerings”
Interestingly, leading insurance providers have the strongest association with these three consideration factors among all advisors. In addition, nearly half of advisors indicate that insurance companies are best-suited to offer high-quality retirement income products. "This indicates a potential opportunity for providers, in particular mutual fund firms, to better demonstrate their retirement income capabilities and highlight the potential advantages in their offerings," said Meredith Lloyd Rice, Senior Project Director and co-author of the report.
While insurance firms edge-out fund providers overall in key retirement income provider selection criteria, advisors with a heavy retirement income focus are just as likely to associate mutual fund providers with providing superior retirement income thought leadership.
“With the increasing wave of pre- and recent retirees and the persistent low interest rate environment, advisors are working harder than ever to meet the income needs of their clients. As such, many are turning to the resources and programs offered by insurance and mutual fund providers in their quest to build and communicate the retirement income process with clients,” said Tony Ferreira, Managing Director, and co-author of the report. Thus, providers that can continually and responsibly innovate in both product design and value-add programs are likely to be rewarded with future business opportunities.
Top Providers in Association With Superior Retirement Income Thought Leadership
Base: Advisors Who Have at Least 75% of AUM Focused on RI Planning and
Aware of Provider
Source: Cogent Research Advisor In-Retirement IncomeTM
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About Cogent Research
Cogent Research helps clients gain clarity, obtain perspective, and formulate direction on critical business issues. Founded in 1996, Cogent Research provides custom research, syndicated research products, and evidence-based consulting to leading organizations in the financial services, life sciences, and consumer goods industries. Through quality research, advanced analytics, and deep industry knowledge, Cogent Research delivers data-driven solutions and strategies that enable clients to better understand customers, define products, and shape market opportunities in order to increase revenues and grow the value of their products and brands.