Despite seeing major losses in client portfolios, advisors still have not embraced holistic retirement income planning, says Cerulli Associates.
Only about a third of advisors surveyed say they are more closely analyzing a client’s income needs following the economic crisis, according to researchers at Cerulli, Boston.
But advisors are rethinking their client relationships and their portfolio construction, the researchers say.
A study that Cerulli conducted in partnership with the Investment Management Consultants Association, Greenwood Village, Colo, found that 57% of advisors are expecting to offer more financial planning services, and 51% are planning to recommend more conservative client allocations.
In addition, 44% of the surveyed advisors said they are planning to make greater use of alternative investment products. Meanwhile, only 31% said they plan to make heavier use of guarantees.