It probably comes as no surprise to advisors that consumers who work with a professional tend to be better off than those who go it on their own. A LIMRA survey released last week confirmed consumers who work with advisors are more likely to be saving in a retirement plan and at a higher rate.
"We've all seen the scary statistics that not enough people are saving for retirement—a recent LIMRA survey revealed that almost half of Americans were not contributing to an employer-sponsored retirement plan or an IRA," Alison Salka, corporate vice president and director of LIMRA Retirement Research, said in a statement.
The survey found that, regardless of income level, more than 60 percent of consumers who work with an advisor are contributing to a retirement plan or IRA, compared with just 38 percent of those without an advisor.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
