November 01, 2012
--- Nearly 60% of non-retired
investors working with a financial adviser want experts with retirement income
credentials, a survey found. ---
This increasing interest in income
in retirement will create a vast opportunity for financial advisers, John
Hancock Financial Network said. A full 90% of investors said it would be
important to have a retirement income plan in place by age 60.
Nearly 70% (69%) intend to have a
retirement income plan in place by age 60, but only half would work with their
existing financial professional to develop it, according to the survey of 768
investors, conducted by Mathew Greenwald & Associates for John Hancock. To
qualify for the study, respondents needed to participate in their household’s
financial decision-making process, have a household income of at least $75,000
and assets of at least $100,000.
Surprisingly, 38% of those who
intend to have a retirement income plan by age 60 think they could develop it
on their own; 12% would use a new financial professional, and 4% would seek a
retirement income specialist.
“The study shows there is a
significant opportunity for financial professionals to grow their business,”
said Bruce Harrington, vice president, sales and business development, John
Hancock Financial Network. “With nearly 60% of non-retired investors who use
advisers saying they felt it would be important to have special credentials in
retirement income planning, we think advisers who have this additional training
have a clear competitive advantage and should do well.”
Last year, John Hancock developed
Retirement Ready for affiliated financial professionals, to help them walk
clients through retirement income issues and create a customized strategy.