Market Digest

More than half of survey respondents say their clients will have to work longer and delay retirement plans

NAVA, the Association for Insured Retirement Solutions, will announce the results of a survey on investor changes in financial planning later today at the 2009 NAVA Marketing Conference at The New York Hilton. NAVA recently conducted the survey via electronic polling of more than 1500 financial advisors about current client behavior.

Key survey results included:

• More than half of advisors said their clients are changing or delaying their planned retirement age
• More than half of respondents said their clients have made unwise decisions more than usual
• Nearly 100 percent of advisors have noticed an increase in clients level of anxiety about future financial security
• Nearly 85 percent of advisors said their clients believe their future quality of life will be lowered

“Rapidly changing and highly volatile market dynamics challenge even the most savvy of clients and the most experienced advisors,” said Cathy Weatherford, President and CEO of NAVA. “NAVA’s 2009 Marketing Conference will feature a heavy emphasis on assisting the advisor who is on the front lines — assisting consumers who have lost confidence in the financial markets and need to find a solution for security in retirement.”

Additional survey findings highlighted how the current economic crisis is affecting client behavior specific to product offerings. For example, more than 30 percent of financial advisors said they anticipate a significant increase in their clients’ interest in financial vehicles that offer guaranteed lifetime income.

“We’re experiencing an extraordinary period in the financial services industry,” Weatherford added. “Now, more than ever, it is extremely important to talk with advisors to determine the best investment choices that will help save for and live securely in retirement, including investments that can guarantee lifetime income.”

The NAVA 2009 Marketing Conference, Monday, February 23 and Tuesday, February 24 at the Hilton New York, brings together the nation’s leading insurance, distributors and asset management organizations that develop and market retirement income and insurance solutions for Americans, including annuities. This year’s two-day event is packed with informative speakers and influential leaders, including contributor to the renowned book, Freakonomics, presenting trends about Boomers and spending, former US Senator John Sununu highlighting forecasted Federal reforms under the new administration, and James Galbraith addressing the effect of the economic crisis on retirees and near-retirees, and Social Security’s role in the recovery.

For more information on the 2009 Marketing Conference visit: http://www.navanet.org/conferences.