Hutchison will be acting as managing director of the office.
Previously, she was the Southern California regional retirement consultant for
Gallagher Retirement Services and assistant vice president at Union Bank
Retirement Services.
The Santa Clarita office is the fourth location Pensionmark added
this year.
But men are still likelier than women to hold
investments, have financial plans and be more financially prepared for
retirement, a study by Bank of Montreal’s Retirement Institute found.
According to the BMO Retirement
Institute, 82% of Canadian women are either the primary decision maker or share
responsibility equally for household financial decisions. Women control about
one-third of all wealth in North America at a rate that increases by 8% a year.
Despite this financial clout, women
are still less confident than men about their finances. BMO Retirement
Institute found that:
·
Men are more likely than women to
have investments and a financial plan (62% versus 52%);
·
Men also tend to be more engaged and
confident with financial planning, and more open to taking risks; and
·
Because of lower earnings, work
histories that may have gaps and longer life spans, among other factors, women
tend to be less financially prepared for retirement.
(Cont’d...)
“It’s great news that women are
controlling an increasing amount of wealth in Canada and are key decision-makers
for household finances,” said Tina Di Vito, head of BMO Retirement Institute. “However,
it’s also clear that women need to become more confident with managing their
finances and preparing for life events, such as retirement.”
Women need to be actively engaged in
personal financial matters in order to take better charge of their retirement,
Di Vito added. She recommends making a financial plan, exploring investment
strategies and finding a financial professional to help map out everything.
Di Vito notes women are often looking for clear, honest and
relevant communication, so when selecting an adviser, she counsels them to look
for transparency and good listening skills, and to seek advice tailored to
their unique situation.
Education is key to learning more about investing and
retirement, Di Vito says. As women learn more they can establish a financial
plan that includes short- and long-term goals toward ensuring a secure
retirement, and the steps women can take to reach those goals.
More advice
and calculators for women, including one on how to assess retirement savings, are
available here.