According to The Cerulli Edge-Retirement Edition, 3Q Issue, most households with between $100,000 and $500,000 in household investable assets for retirement have not developed a formal retirement income plan or engaged with a financial advisor. 

"This finding is a significant concern because that means some investors are entering retirement without an income plan for the next 20 plus years of their lives. In addition, we found that many retirees in the $100,000 to $500,000 asset range are not working with a financial advisor," explains Tom Modestino, associate director at Cerulli Associates. 

"The silver lining is that this represents a great opportunity for asset managers, broker/dealers, and retirement plan providers to increase retirement income planning education, guidance many investors will welcome. This lack of planning can result in rollover opportunities after retirement," said Alessandra Hobler, an analyst at Cerulli. 

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