Pershing LLC. announced Thursday that it has expanded its retirement focus to help broker-dealers, investment professionals and RIAs drive growth by capturing a portion of what the firm called the “money in motion” opportunity. The new website, www.retirementpowerplay.com, provides financial professionals with educational content, tools and strategies to help them grow their retirement businesses.
The site is open to all advisors, and can be accessed after completing a registration process.
According to The Secret Knock: Unlocking the Retirement Opportunity, a recent study conducted by Pershing and Mercatus, LLC, capturing the retirement relationship enables investment professionals and RIAs to gain a higher percentage of wallet share from their affluent clients—over 50% higher in some cases. The movement of retirement funds each year is estimated to be $303 billion.
“This ‘money in motion’ comes from rollover IRAs, transfers and movement form taxable accounts,” says Robert Cirrotti, director in product management and development at Pershing LLC. “By positioning themselves as experts in the retirement space, advisors are set up to capture those assets as they pass by.”