Extra Retirement Savings seen as more Important

Sixty-nine percent of employees in a recent survey believe retirement savings accounts to be extremely important in providing protection for themselves and their family.

The Employee Benefit Research Institute (EBRI) conducted the poll for the Project 2010 coalition and found that 21% of employees consider annuities to be extremely important.

Three out of five employees surveyed said they are not confident they will receive Social Security when they retire, with nearly 60% of them saying they have been putting aside more money in retirement savings accounts.

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While a majority of employees receive benefits from their employer, 64% purchase additional coverage. Of these employees, 35% set aside money in additional retirement savings accounts and 17% added annuities to their financial portfolio.

Survey findings also included:

  • 94% of employers offer benefits to their employees. 
  • Three-quarters of employees are not taking advantage of all of the benefits and insurance offered by their employer.
  • Seven out of 10 employers offer retirement savings accounts for their employees. Over half – 54% – offer pensions and about one-fourth of employers offer their employees annuities.
  • Of those employees offered benefits by their employers, over half participate in the employer’s retirement account, about four in 10 receive pensions and 16% receive annuities.

The survey covered 1,007 adults 18 years old and older, living in private households in the continental United States and was conducted from September 10 through September 13, 2010.

Folio Institutional Offers Model Portfolios to Advisers

The “Model Manager Exchange” (MMX) currently features 150 portfolios from 35 financial professionals.   

Folio Institutional is initially offering the MMX program as a free service for all registered advisers and broker/dealers who use its platform.  Advisers wishing to have their models displayed can do so for free as well; however, they are required to have a minimum level of assets on the Folio Institutional platform, with those funds invested in one or more of their models.

Negotiations of licensing fees are conducted directly between the sellers and buyers of the investment strategies.  Once a model is licensed for use, trades are executed via the Folio Institutional platform, which handles all back-office transactions between the licensor and licensee.

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“Effective today, every adviser on our platform has access to an enhanced universe of innovative portfolio models created and managed by other advisers and institutions,” said Folio Institutional President Greg Vigrass. “MMX allows model managers to increase the reach and visibility of their portfolio strategies, while creating a new revenue stream for them. Meanwhile, licensees can efficiently access third party expertise to offer their clients a broader range of managed investments.”

Interested advisers can learn more about MMX by contacting Folio Institutional at 888-485-3456.

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