Younger participants are more likely to want advice about in choosing their investments, but those in the $50,000 and under income bracket are the most likely (37%) to want investment advice, a recent survey shows.
The main reasons millionaires turn to financial advisers are to get a recommendation from a trusted person, to reach a certain level of wealth, and to start planning for retirement.
Although a majority of women (72%) say retirement is their primary investment goal, almost half of them (48%) do not participate in a retirement savings plan and 60% said they have not taken the necessary steps to prepare for retirement.
Approximately half (51%) of women who work with a financial adviser consider themselves “very financially secure″ in their current situation, while only 31% of those without an adviser agree.
Seventy-three percent of plan participants surveyed said they are not overly confident in their investing abilities, according to The Scarborough Group, provider of investment advice and allocation management for 401(k) plan participants.
Many Americans who are caregivers for ailing family or friends frequently have to pay for it by tapping their retirement savings, according to a new John Hancock Life Insurance Company survey.
Connecting with baby boomers while they are still in their working years is critical to establishing relationships for advisers, according to the third annual Lincoln Long Life Survey of baby boomers released by the Lincoln Retirement Institute.
To help marketers more accurately target the baby boomer generation, the market research firm of Chadwick Martin Bailey (CMB), in conjunction with Arnold Worldwide, concluded a study by identifying five distinct subgroups of boomers.