Advisors have long thought they make a difference in their clients lives. But now they have proof, thanks to new research from the Employee Benefit Research Institute, a nonpartisan public policy research group.
Low-income individuals who set retirement savings targets with input from a financial advisor reduced the risk of running out of money in retirement by anywhere from 9.1 to 12.6 percentage points, depending on family status and gender. For the highest-income individuals, the difference was narrower, ranging from 6.3 to 11.0 percentage points, according to the analysis.
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