Financial Advisors' Best Practices in Addressing Their Clients' Retirement Income Distribution Planning and Asset Management Needs in Uncertain Financial Times

Americans who have recently retired or are close to retirement are facing increasingly complex financial options and decisions as a result of the recent economic crisis. Naturally they will turn to their financial advisors — financial planners, insurance agents, stock brokers and bankers for guidance. The best-in-class financial advisors are now retooling their traditional planning methodologies as well as their overall processes for interacting with existing and prospective clients.

Subscribers to this qualitative study will receive actionable information on how the new economy is shaping the attitudes and behaviors among financial advisors and how they have modified the advice they are giving and the retirement income products they are recommending to their older clients.

The Project:

The primary objective of this study is to help sponsor companies better understand the most successful methods being utilized by financial intermediaries in the retirement income market and the changes being made to maintain this success. In order to fully examine the best practices being used by these advisors, DSG will explore each of the iterative stages in their overall go to market and client interaction processes. The stages will include:

• Their firm's organization and approach to the retirement income market.
• Definition of their target audience and prospecting activities.
• Client data collection.
• Retirement income support tools and planning software being used.
• Thought and selection process used to determine appropriate retirement income advice, products and solutions.
• Retirement income plan output.
• Client follow-up and ongoing communications.
• Most important elements for success.
• Advisors' current issues and interactions with the financial services companies they represent.
• Timeframes for each stage of the process as well as tactical nuances due to asset levels or other client characteristics will also be examined.

This DSG study provides an enhanced understanding of what it takes for these advisors to capture a greater share of retirement assets and what changes were made to retain the confidence of their client base over the course of the financial crisis.

Methodology:

This syndicated study will consist of in-depth interviews with highly successful financial advisors in the retirement income market representing the following distribution channels: Fee Based Planners, Captive Insurance Agents, Independent Registered Reps, Bank Reps and Wirehouse Brokers. Sponsor company input is welcome in the development of the interview guide. The final report will include a thorough analysis of the findings by DSG principals and broad recommendations for working with financial advisors in the retirement income market.

For further information, please contact Borden Ayers by calling 610-989-1710, ext: 21 or by sending an e-mail to: BordenA@DSG-Network.com

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