Americans’ conception of "retirement" is undergoing a significant evolution thanks to a number of big intersecting trends, including significant longevity improvements, heightened market volatility and shifting preferences about when and how to leave the workforce.
At the same time, retirement plan providers and investment managers are moving to provide a broader set of investments and planning capabilities to their shared clients — including better access to alternative asset classes and more effective income solutions for retirees in “decumulation mode.”
These are some of the main conclusions drawn from BlackRock’s 10th annual Read on Retirement report, which also warns that financial advisors cannot afford to ignore this evolution.
One way advisors can stay ahead of the curve is to leverage the tools and resources of their service provider partners and technology vendors, BlackRock says, especially when it comes to crafting more personalized portfolios and retirement income strategies.
See the slideshow for a review of six key trends identified by the report, with BlackRock’s insights on how financial professionals can respond.
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