Benefits February 23, 2009

Advisers Cite Client Anxiety about Retirement

February 23, 2009 (PLANSPONSOR.com) - A recent survey of more than 1,500 financial advisers reveals that nearly all have noticed an increase in clients' level of anxiety about future financial security.
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Nearly 85% of advisers polled said their clients believe their future quality of life will be lowered, according to a press release from, NAVA, the Association for Insured Retirement Solutions, an organization devoted to the growth of annuities and variable life insurance products. More than half of advisers said their clients are changing or delaying their planned retirement age.

In addition, according to the press release, more than half of advisers said their clients have made unwise decisions more than usual.

“Rapidly changing and highly volatile market dynamics challenge even the most savvy of clients and the most experienced advisers,” said Cathy Weatherford, President and CEO of NAVA, in the announcement.

More than 30% of survey respondents said they anticipate a significant increase in their clients’ interest in financial vehicles that offer guaranteed lifetime income.

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