A recent report by LIMRA found that advisors don’t always address critical risks that could affect their clients’ retirement. Less than half of retirees surveyed said their advisors advised them on when to retire, planning expenses and income during retirement, how assets should be withdrawn and planning minimum distributions.
“While most advisors are very conscientious about managing their clients’ assets in retirement, many may not address some of the key issues that could jeopardize their clients’ long-term financial well-being,” Marie Rice, corporate vice president and director of LIMRA Retirement Research, said in a press release.