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Seniors' Attitudes about Preparedness for Retirement is Critical to Capturing and Retaining Assets

July 27, 2006, Wayne, PA — The Diversified Services Group, Inc. (DSG) today announced the completion of the most recent in its ongoing RM2 Report Series™, "Consumer Attitudes and Perceptions about Retirement Income."

This unique qualitative and quantitative study was conducted with more than 1,200 consumers between the ages of 55 and 70. It identified a variety of important segments within pre and post retiree groups with investable assets of $250,000 and above. Insights from this study can assist financial services companies in determining which consumer segments are the most suitable targets for their specific products, services, and distribution capabilities. The study helps them understand and develop optimal marketing approaches and retirement income solutions for each segment they choose to serve.

Selected findings from the study include:

  • Identifying a prospective client’s wealth characteristics is insufficient for implementing a satisfactory retirement income planning approach.
  • Sizable numbers of retirees and soon-to-be retirees, even with investable assets in excess of a half million dollars, are unsure or worried about their financial future.
  • Having a financial advisor does not correlate with retirees’ comfort level about their financial preparedness for retirement.
  • Few consumers believe their employer has an obligation to assist them with their post retirement planning.

According to James Sholder, a DSG Principal of its Retirement Market Practice, "A client’s attitude about their financial future is the key to understanding how to serve them best, and determines the likelihood of acquiring their business."

About the RM2 Report Series™: The "Consumer Attitudes and Perceptions about Retirement Income" study is part of DSG’s ongoing series of syndicated research reports, the RM2 Reports™. The series began in 1996, and focuses on retirement market opportunities and issues that firms face as they develop services, products and marketing initiatives to reach individuals and compete at and after the Retirement Inflexion Point™.

About DSG: DSG’s Retirement Practice provides consulting and research to the financial services industry with a focus on the Retirement Management Market, its trends, products, services, and delivery channels. DSG manages the Retirement Management Executive Forum, a select study group of senior executives with primary responsibility for their firms’ response to the burgeoning retirement market.

For further information, contact:

Borden Ayers, Principal

Ph: 610-989-1710, ext. 21
Fax: 610-989-1730
e-mail: bordena@dsg-network.com

Diversified Services Group, Inc.
303 West Lancaster Avenue
Suite 2E
Wayne, PA 19087-3938

 

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