Deals & People July 29, 2009

DST Retirement Solutions Adds Biz Development Director

Brian Mineweaser has joined DST Retirement Solutions as director of new business development.

Reported by

 

According to the announcement, Mineweaser most recently served as sales director for Wealth Management Systems, Inc., where he was responsible for new account sales and strategic alliances. He has worked in the retirement plan and information technology industries for 13 years. 

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“Brian has built strong relationships within the defined contribution market and understands the business challenges retirement plan providers face,” said Jude Metcalfe, president of DST Retirement Solutions. “His responsibility is to help providers identify the customized service model they need to meet their unique operational requirements. We’re proud to have Brian on our sales team, representing our solution to the industry.”  

Servicing nearly 4 million participants, DST Retirement Solutions supports any plan size and investment vehicle, according to the firm.

 

Data & Research July 28, 2009

Study Finds Gender Gap in Belt-Tightening Moves

Apparently “Venus” is tightening her belt more than “Mars.”

Reported by

Regardless of gender, most seem to be cutting back, but women seem to be cutting back more on discretionary expenditures than men in poor economic times according to a new survey conducted by Opinion Research Corporation on behalf of TD AMERITRADE Holding Corporation. Of those who participated in the survey, 86% of women reported spending less on elective expenditures compared to 78% of men.
 
Lifestyle Choices
 
Asked specifically about the lifestyle changes that have been made in the past 12 months due to the current economic environment, those surveyed provided the following responses:

  • 58% of women are eating out less, compared to 48% of men;
  • 54% of women are buying fewer clothes and shoes, compared to 40% of men;
  • 48% of women are shopping more at discount stores, compared to 37% of men;
  • 36% of women are cutting back on charitable giving, compared to 26% of men;
  • 31% of women have cancelled or postponed vacations, compared to 22% of men.

Additionally, the survey found that more than one-in-five (22%) of men reported making none of these lifestyle changes, compared to just 14% of women.
 
“More and more women are now responsible for managing the family’s finances, and they are more cost-conscious as the economy tightens their purse strings,” said Paula DeLaurentis, managing director, strategic alliances, TD AMERITRADE. “As a result, women are cutting back on daily expenditures and luxuries now more than ever.”
 
Geography ‘Classes’
 
The survey also revealed that the down economy has affected the lifestyles of people living in the Northeast during the past 12 months, more so than any other region in the United States, particularly the West.
 
Consider that, according to the survey:

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  • 52% percent of those surveyed from the Northeast have postponed a major purchase compared to 39% of those from the West;
  • 19% of those surveyed from the Northeast have postponed adding to the family, such as, pregnancy, adoption and foster children, compared to 7% of those from the West;
  • 50% of those surveyed from the Northeast are buying fewer clothes or shoes compared to 44% of those from the West.

 

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