TIAA-CREF is expanding its individual advisory services group by more than 45 percent by the end of next year.
The group, which provides financial planning services, said it will add more than 200 financial advisors to keep up with the growing demand for this service.
TIAA-CREF financial advisors provide personalized financial planning and advice through multiple channels to meet client needs: over the phone, online or in person at one of TIAA-CREF's more than 90 offices nationwide.
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IAS advisors lead client conversations with needs-based financial planning and work with an existing base of clients in both a registered investment advisor and broker-dealer capacity. TIAA-CREF's capabilities are designed to help individual clients' build financial well-being, and the company offers retirement plan advice at no additional cost to clients. Since the beginning of 2012, TIAA-CREF has grown the number of IAS advisors from 250 to more than 445, drawing from banks, independents and wire houses.
"Our experience shows personalized advice makes a big difference in clients' retirement preparedness," said Kathie Andrade, executive vice president and head of individual advisory services at TIAA-CREF. "In fact, those who receive advice from TIAA-CREF are five times more confident about their retirement than the average American worker. And participants who receive TIAA-CREF's advice, on average, contribute additional funds to their retirement plan and may potentially have $200,000 more in savings at retirement over the course of a 30-year career."
TIAA-CREF is a national financial services organization with $523 billion in assets under management as of June 30, 2013.
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