Deals & People January 25, 2013

Symmetry Partners Takes on Regional Consultant

Alicia R. Fryc was named regional business consultant for New York and the mid-Atlantic states for Symmetry Partners LLC.
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Fryc will work with the firm’s adviser community, educating them about Symmetry’s efficient markets investment philosophy, engaging them in business-building programs and working with them on practice management initiatives.

Fryc brings extensive experience in financial services sales, most recently as national director of business growth and development for Fusion Advisor Network. Previously, she worked as an agency sales director with MetLife and as a senior sales consultant with MainStay Investments. Fryc began her career as a financial adviser at Waddell & Reed in Hartford.

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Fryc has a bachelor’s degree in economics from the University of Connecticut and is a member of the Board of Directors for the Financial Planning Association (FPA) of NYC.

Symmetry Partners is an investment adviser in Glastonbury, Connecticut.   

Data & Research January 25, 2013

Despite Lack of Savings, Some Are Still Hopeful

There is a disconnect between the saving habits of some consumers and their rosy retirement forecasts, a poll found.
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What’s the difference between objective forecasting and cockeyed optimism? A new survey by the credit card comparison site CreditDonkey.com suggests that it’s the difference between some people’s saving habits and their idea of a “comfortable retirement.”

Although 80% of the people surveyed said they were not doing enough to save for retirement, 66% reported having no financial plan for retirement, and 60% said they lived paycheck to paycheck, and almost half (45%) said they still expected to somehow retire comfortably.

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“In the wake of the Great Recession, Americans are saving more and reducing debt, including credit card debt,” said CreditDonkey.com founder Charles Tran. “Despite the trend toward more frugal behavior, however, many people still aren’t saving enough to justify their expectation of a comfortable retirement. No doubt, many are simply hoping that the economy will rebound before it’s time for them to retire.”

It is obviously easier for people with higher incomes to save for retirement, Tran pointed out. “But even people with modest incomes can do more to save for retirement,” he said. He advised consumers look for credit cards that offer rewards, including discounts on merchandise and cash back for certain purchases.”

Some highlights of the credit and saving survey are:

  • Just 23% of men and 15% of women said they felt they were doing enough to save for retirement;
  • About a third of men (36%) and women (32%) said they had a financial plan for retirement;
  • Nearly half of men (48%) said they felt they would be able to retire comfortably, compared with just 40% of women; and
  • About a third of men (36%) and women (34%) felt that Social Security should be privatized.

From January 4 to January 8, CreditDonkey polled 1,109 Americans, age 18 and over, for their views on credit cards, saving, retirement planning and other financial issues. 

More responses from the Credit and Saving Survey are here.

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