Products November 11, 2013

USI Consulting Launches Redesigned Website

USI Consulting Group launched a newly designed website (www.usicg.com).
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The new design encompasses a contemporary look, more intuitive navigation and a streamlined user experience, the company says.

Navigation for the firm’s specialized services (Defined Benefit, Defined Contribution, Investment Advisory, Church Plan Solutions, Regulatory & Compliance, Employee Communications and Health & Welfare Administration) has been moved to a central location, so visitors can find what they’re searching for with greater ease. In addition, the Direct Solutions account access and service center pages have been reorganized to improve functionality, with a focus on finding desired information quickly.

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USI Consulting Group is a provider of defined contribution and defined benefit plan consulting and administration services, along with health and welfare administration. It is the parent company of both USI Advisors, Inc. (a federally registered investment adviser) and USI Securities, Inc. (a registered broker-dealer) and is a wholly-owned subsidiary of USI, Inc. (an Onex Corporation private equity partner).
Data & Research November 11, 2013

Those With Financial Plans Tend to Like Them

The key to satisfaction with a formalized financial plan may simply be to write one, a new Spectrem Group research report shows.
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For the nearly 60% of defined contribution (DC) plan participants who reported having written a financial plan with their primary adviser, almost all (96%) reported they are at least somewhat satisfied with that plan.

Other findings in the “Advisor Usage Among DC Plan Participants” report indicate that 52% of DC plan participants who had developed a financial plan are “very satisfied” with that plan. Almost a quarter (24%) said they are “satisfied.”

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Despite those results, just 24% of 401(k) participants have received advice on creating a financial plan from their primary adviser. Thirty-five percent said they will seek such advice in the future, while 32% claimed they do not need financial planning advice at this time.

The report shows younger investors are less likely to have a financial plan in place than older investors, but 48% of DC plan participants under the age of 35 said they will seek advice from an adviser on a financial plan in the future.

Even among investors with more than $100,000 in assets, only about a quarter (27%) have created and enacted a financial plan with their adviser. Thirty-five percent, in turn, said they will seek out that information, and 28% said they do not need that type of advice.

When it comes to reviewing and updating financial plans, less than half (46%) of DC participants with a financial plan review it at least semiannually. Thirty-four percent reported conducting annual reviews, while 16% review it less frequently than once a year.

The older the investor, the more frequently he or she reviews a plan. Seventy-two percent of plan participants 65 years of age and older review semiannually, while only 38% of participants 35 years or younger look into their plan twice a year.

More highlights from the report available here.

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