August 04, 2008 at 08:07 AM
Financial advisors are not optimistic about their clients’ prospects of enjoying a comfortable retirement.
About 90% of the advisors say 80% of the clients have too little to retire on, according to researchers at Curian Capital L.L.C., Denver.
The researchers commissioned a survey of 1,300 independent advisors.
In other survey findings:
- 69% of the advisors have not changed clients’ portfolios as a result of recent market volatility.
- 69% of the advisors are using managed accounts for clients who are preparing to retire.
- 55% of the advisors would outsource retirement income planning to a third-party asset manager.
For 42% of the participating advisors, retirement savings planning and accumulation is the top priority.
For 31% of the advisors, income planning is now the top priority.
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