Financial professionals are aging along with their customers, according to Fidelity Investments.
Fidelity, Boston, has published data on the retirement plans of brokers and advisors in a summary of results from an online survey of 1,046 U.S. investment professionals that was conducted in late 2010.
The participants included financial professionals from independent broker-dealers, national brokerage firms, registered investment advisors, insurance companies, banks and regional broker-dealers.
Fidelity notes that Cerulli Associates, Boston, has found that the median age of a financial professional is about 49.
Fidelity found that the professionals who participated in its survey have an average expected retirement age of 68, with 19% saying they may not retirement until they are 71 or older.
But about one-third have not started to think about retirement, and 10% said they have started to think about retirement but are not sure when they want to retire.
- Allison Bell