Products June 14, 2011

eRollover Adds Services for Advisers

eRollover has introduced eRollover for Advisors, an online marketing solution for financial advisers that will offer help about growing practices and provide member matchmaking services from the eRollover.com consumer experience.

 

Reported by

eRollover for Advisors will focus on three areas: client acquisition, training in internet marketing and social media, and aggregating online resources for advisers into one place, according to a press release.  

 For a monthly fee, advisers can connect with members of eRollover’s consumer community who are seeking access to advice to manage their rollover and planning needs. Advisers will also have the ability to receive additional qualified leads, and will soon be able to access a webinar system to reach interested consumers directly online.  

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“By utilizing these tools, financial advisers will have the ability to be matched up with some of the estimated 78% of consumers who currently do not have some sort of planning relationship,” said Peter Velardi, President and COO of eRollover.  

Velardi said eRollover for Advisors is unique in that it is offering an opt-in listing of advisers for consumers, rather than “a list scraped off of the internet.”  

eRollover for Advisors also offers training for advisers on how to market to consumers using social media with the guidance of social media specialists. Other services will include access to direct mail marketing vendors, consumer psychology specialists, alternative investment training, online continuing education services, and specialized training to reach high-net-worth clients. 

For more information, go to http://www.erollover.com/advisors.  

 

Data & Research June 14, 2011

Workers Lose $300k in Wages and Benefits When Caregiving

A recent study found that caregiving costs American workers $3 trillion in lost wages, pension, and social securities. 
Reported by

For women, average losses equal $324,000, compared to $284,000 for men, according to the MetLife Study of Caregiving Costs to Working Caregivers, which  found that men and women can face major losses when they take time off of work to care for their aging parents.  

The study found average individual losses due to caregiving responsibilities: 

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  • Lost wages due to leaving the labor force early: $142,693 for women, $89,107 for men; 
  • Lost Social Security benefits: $131,351 for women, $144,609 for men; and 
  • Lost pensions: $50,000 for women and men.  

The percentage of adult children (ages 50+) providing personal and/or financial assistance to a parent has more than tripled over the past 15 years and currently represents a quarter of adult children, mainly Baby Boomers. The study also found that working and non-working adult children are almost equally likely to provide care to parents in need, however, those who work and provide care for a parent are more likely than those who do not provide care to report that their health is fair or poor.  

Though caregiving sons and daughters provide comparable care in many respects, daughters are more likely to provide basic care (i.e., help with dressing, feeding, and bathing), while sons are more likely to provide financial assistance – defined as providing $500 or more within the past two years. Twenty-eight percent of women provide basic care, compared with 17% of men.  

Researchers analyzed data from the National Health and Retirement Study. The study was produced by the MetLife Mature Market Institute in conjunction with the National Alliance for Caregiving and the Center for Long Term Care Research and Policy at New York Medical College. The full report is available here.

 

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