Updated Tuesday, May 21, 2013 as of 9:23 PM ET
That was one of the key findings of a poll quizzing the broker-dealer and RIA firm executives at Fidelity’s annual Executive Forum, which hosted about 300 clients of the company's custody and clearing units. When asked which investor group's needs most influenced their innovation strategy, a startling 61% of executives singled out baby boomers -- far ahead of Gen X (14%), Gen Y (9%), older clients (6%) and either women or business owners (4% each).
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“The face of the advisor will change. There’s going to be a large cohort of retiring advisors and young advisors. They are going to be more diverse, and more will be working part-time. We have to adapt services to the new demand, and develop tools to communicate and interact with advisors.” more »
Mass affluent investors are beginning to regain confidence following the economic downturn, according to the Spring 2013 Merrill Edge Report. more »
Most IRA owners limit withdrawals to required minimum distributions, according to a new report from the Employee Research Benefit Institute. Nevertheless, a substantial number of higher-income retirees take withdrawals before age 70-1/2 and those non-required distributions may be relatively large, in relation to their IRA balances. more »
The economic recession may have sparked a retirement crisis in America, but other significant derailers have also played a role. more »
Reports that aging clients may not be able to make sound financial decisions because of declining cognitive skills may be overstated, said Laura Carstensen, professor of psychology and head of Stanford University’s Center on Longevity. more »
A new study attempts to quantify the very real effect that low interest rates and muted yields in certain asset classes could have on investors' retirement planning. more »
Advisors are not doing a good enough job planning for health care costs. To better serve clients, advisors must understand the realities of health care, despite many unknowns. more »
Among pre-retirees who worked with advisors, 73% said that did not expect to carry debt into retirement. more »
Fidelity reported a 53% increase in health savings accounts opened in 2012, raising the number of individual accounts administered by the company to 182,000. more »
MidAtlantic Trust Company said it had resolved record-keeping problems that have kept exchange-traded funds from being part of holdings in 401(k) and other retirement plans. more »
Only 12% of employers sponsoring 401(k) plans feel that their employees will be financially prepared for retirement, down from 15% a year ago. more »
A difference of 1% in fees could reduce an investor’s balance at retirement by as much as 28%, according to the Department of Labor. more »
When it comes to retirement, baby boomers are favoring lifestyle choices over wealth preservation, bucking the traditions of the generations that came before them. more »
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