Affluent pre-retirees now report greater stability with their investment situation than two years ago, according to a new report by Phoenix Marketing International.
The research company surveyed 4,800 pre-retirement investors between the ages of 35 and 64 with household incomes and investable assets of at least $100,000.
“Our historical data indicate much greater resilience to market turmoil than we observed in the fall of 2009,” said Kristina Terzieva, program director for the financial services study.
The study also found that the number of individuals wanting to replace their financial advisors or close their investment accounts is at its lowest level in more than two years. Of those who said they were planning to make a change in the next month, a high percentage said they would be meeting with their financial advisor, finding out more about retirement products and services or making a change with their investment strategy.
“One area in which we have noticed little historical change among affluent pre-retirees is with their preferred approach toward making retirement decisions. One-third currently view themselves as self-directed investors, another one-third use financial advisors for specialized needs, one-fourth regularly consult an advisor, and the remaining 10 percent or so rely on their advisor to make most retirement planning decisions,” Terzieva said.
The Phoenix study polls affluent investors about their impression and consideration of numerous financial services companies offering diversified insurance and investment products. A list of brands tracked since May 2008 that promote retirement-related insurance products includes Aetna, AIG, CNA, Genworth Financial, Guardian, Jackson National, John Hancock, MassMutual, MetLife, Nationwide, New England Financial, Northwestern Mutual, NY Life, Pacific Life, Prudential, State Farm, Sun Life, The Hartford, The Principal, Transamerica, and USAA.
Also covered by the Phoenix study are leading brokerage and investment managers, including AIM/Invesco, AllianceBernstein, Allianz, American Century, American Funds, Ameriprise, AXA Equitable, Fidelity, Charles Schwab, Columbia Management, Commonwealth Financial, E*Trade, Edward Jones, Franklin Templeton, Goldman Sachs, Janus, Lincoln Financial, Lord Abbett, TD Ameritrade, TIAA-Cref, Merrill Lynch, Morgan Stanley, PIMCO, Pioneer, Putnam, Oppenheimer, Pioneer Investments, Raymond James, T.Rowe Price, US Trust, Vanguard, and Wells Fargo.