Advisers Cite Client Anxiety about Retirement

Clients are making unwise decisions more often than usual, according to most advisers.

According to a recent survey of more than 1,500 financial advisers, nearly all advisers have noticed an increase in clients’ level of anxiety about future financial security. The survey was done by NAVA, the Association for Insured Retirement Solutions, an organization devoted to the growth of annuities and variable life insurance products.

Nearly 85% of advisers polled said their clients believe their future quality of life will be lowered and more than half of advisers said their clients are changing or delaying their planned retirement age.

“Rapidly changing and highly volatile market dynamics challenge even the most savvy of clients and the most experienced advisers,” said Cathy Weatherford, President and CEO of NAVA, in the announcement.

More than 30% of survey respondents said they anticipate a significant increase in their clients’ interest in financial vehicles that offer guaranteed lifetime income.