Bumpus will focus on managing relationships and developing opportunities
to serve the large wirehouses and regionally-based broker/dealers. Bumpus was previously
regional director for the East Region and has worked at Putnam for nearly 13
years. He will report directly to William T. Connolly, head of global distribution
at Putnam.
Dennis Corbett, who has been with the firm for more than14 years,
will serve as regional director for the East Region, assuming Bumpus’ previous
position. He will report to John P. Nickodemus, national sales manager of Putnam
Retail Management.
Dan Shannon, who joined Putnam nearly five years ago, was appointed
regional marketing director, replacing Corbett in the Southern New Jersey and
Southeast Pennsylvania territory, and will report to Corbett in his new role.
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Those Who Work With Financial Adviser Better At Retirement Planning
Two-thirds (66%) of those who work with a financial
adviser have an understanding of how much of their retirement savings they will
withdraw annually at retirement.
According
to the 2011 Franklin Templeton Retirement Income Strategies and Expectations
(RISE) survey, among the Americans who have never worked with a financial
adviser, only 36% said they know how much they will withdraw annually from
their retirement savings. In addition, more than a third (35%) of those who
have never worked with an adviser said they do not think about how they will
approach different sources of retirement income.
The
survey showed that 79% of Americans do not work with a financial
adviser, but nearly half (47%) of respondents said they would consider going to
a financial adviser or switching their current adviser if the adviser prepared
a written retirement income plan.
“A
large number of Americans are not currently enlisting the help of a financial
adviser, in many cases because they think they don’t have enough money to
warrant working with one,” said David McSpadden, senior vice president of
Global Advisory Services for Franklin Templeton Investments. “The fact is, most
Americans do want to retire at some point, but they may be missing a key
resource for helping to determine how they will get there. Sitting down and
discussing their concerns, plans and strategies for retirement with a financial
professional is a key step towards defining and putting together a plan to
reach their goals.”
Additional
findings from the survey included:
•
Of the respondents not using an adviser, 41% said it is because they don’t
think they have enough money to need one, and 30% said it is because they
prefer to do it themselves.
•
Thirty-eight percent who have never worked with a financial adviser say Social
Security will provide the most income during retirement—twice as many as those
who do work with a financial adviser (19%).
•
While 35% of respondents who have never worked with an adviser indicated that
running out of money is their top concern, among those who have worked with a
financial adviser (currently or in the past), that same concern fell to
24%.
•
Thirteen percent who work with a financial adviser say IRAs will provide the
most income during retirement (versus only 4% of those who have never worked
with one).
The
Franklin Templeton Retirement Income Strategies and Expectations (RISE) survey
was conducted online among a sample of 2,046 adults comprising 1,020 men and
1,026 women 18 years of age or older. The survey was administered from September 15 to 18 and September 19 to 21, 2011, by ORC International’s Online CARAVAN.