Vanguard Offers Pre-Retirees Access to Certified Financial Planner

A press release said the Ask a CFP Professional service is the newest offering in Vanguard’s suite of advice services for retirement plan participants. The service enables eligible participants age 55 and older to call a non-commissioned Vanguard planner to discuss immediate, short-term, or long-term concerns, such as retirement, college, estate and tax planning, and charitable giving.   

When more in-depth guidance is required, these participants can also take advantage of a free Vanguard Financial Plan, which provides portfolio recommendations on all household assets, plus an assessment of current savings sufficiency and a retirement spending outlook, the company said.

According to the announcement, Ask a CFP Professional adoption within retirement plans has quickly grown since it was made available in late September 2010, with nearly 200 plans to date offering the service to over 64,000 participants. Asset allocation and fund questions have accounted for 60% of the conversations between Vanguard planners and participants using the service so far; trends in other key discussions include tax planning, Roth IRA conversions, and withdrawal strategies.

Younger participants may access Ask a CFP Professional at no charge if they are a Vanguard Flagship or Voyager Select retail investor.