Close Close

Retirement Planning > Retirement Investing

Report Identifies Lack of Focus on Midmarket

Your article was successfully shared with the contacts you provided.

Retirement advisors are not giving sufficient attention to middle income Americans, according to a recent study.

The Bankers Life and Casualty Company Center for a Secure Retirement Middle-Income Retirement Preparedness Study was conducted in August of 2010 by the independent research firm, The Blackstone Group, New York. The report focused on pre-retirees and retirees with incomes between $25,000 and $75,000.

The research concluded that 515 of pre-retirees and retirees within the middle income parameters had not been contacted by a retirement professional within the last year. And 845 of the participants had to be the one to reach out to a retirement professional.

The report’s researchers say that, by becoming portfolio managers for the wealthiest of retirees, retirement professionals are missing out on a significant section of the marketplace.

Sixty-eight percent of participants who do work with a retirement income professional feel better prepared for retirement compared with their peers, the survey says. And 76% said they were extremely or very satisfied with their retirement professional.

–Michael K. Stanley