At the same time, more demand for financial advice has many retirement plan advisers looking to stay in the business
After the challenges of 2020’s volatile market, financial advisers should learn how to approach any future obstacles with their clients.
However, many are implementing new practices and technologies to combat these effects.
Nearly 70% of retirees say they retired earlier than they had expected, up from 50% in 2020.
Financial advisers can help them through a mix of offerings and communication.
The COVID-19 pandemic has added to the burden many caregivers bear.
A Broadridge webinar evaluated the impacts of successful virtual advising in 2020, and explored which digital outlets financial advisers are focusing on in 2021.
The slow but steady distribution of coronavirus vaccines in the U.S. and other developed nations is also having a favorable impression on the equity markets, but serious risks remain.
American workers are expecting more from workplace programs, such as tailored communications and experienced representatives.
Communication strategies are integral to financial advisers, plan sponsors and participants, especially now.
The move comes even as an American Consumer Credit Counseling (ACCC) report finds more workers are increasingly confident in their employment stability.
As the coronavirus pandemic continues to lead to an increase in financial concerns, a Retirement Advisor Council guide suggests key financial well-being strategies.
Many are considering early retirement or reducing their retirement savings.
Financial advisers have a large impact on how confident older workers are during retirement.
One scenario in the study predicts a 54% reduction in retirement account balances if a participant were to fail to repay a coronavirus-related distribution.
The tool takes into account the latest rules and resources from the CARES Act.