Blanchett: Advisors Say They Discuss These 7 Retirement Issues. Clients Disagree.
October 16, 2024 by John Manganaro
There are notable gaps in the retirement income planning services financial professionals think they are providing to clients compared with the services investors are actually reporting they receive, according to the latest research from David Blanchett, managing director and head of retirement research for PGIM DC Solutions.
Click HERE to read the full story via Think Advisor
Wink’s Moore on the Market: My homey David Blanchett did some fascinating new research on retirement income planning.
The gist of the research?
*****Advisors and their clients aren’t seeing eye-to-eye.*****
For example-
“While 97% of investors say wealth ‘protection’ is moderately or very important in their vision for retirement, only 79% of financial professionals do.”
“Additionally, while 81% of investors say protected lifetime income products (such as annuities) would be helpful in their workforce retirement plans, only 68% of financial professionals say the same.”
AND
“The survey results show that nearly all advisors (95%) report delivering insights and planning on minimizing taxes in retirement, but fewer than two-thirds (64%) of clients report receiving support in this area.”
I love David’s suggested solutions- so on point:
i.e. “What this suggests is that advisors potentially need to be more tactical in how they address these specific issues,” Blanchett writes in the report. “For example, some kind of checklist or materials directly addressing each of these key aspects of retirement may ensure that investors are getting the holistic retirement guidance the financial professional is striving for.” -sjm
