08.24.23

Investors Nearing Retirement Seek Strong Support and Brand Familiarity, Cerulli Reports

by: Natalie Lin

U.S. investors want the counsel of advisors employed by known and reputable firms as they wind down their working years, new research suggests. According to Cerulli Associates, the share of investors who are "investor-reliant" jumps from 27% in general to 46% within five years of retirement and to 57% within one year. At the same time, the share who desire an advisor affiliated with a national brand climbs from 39% across the board to 45% at the point of retirement. The findings underscore "the importance investors place on the reliability of their advisory relationships as they enter this stage of life," Cerulli noted in a statement. For companies and professionals that want to grow their footprint in the retiree niche, Cerulli recommends showing consistently that they have clients' best interests at heart and showcasing their support resources. "While most investors have little familiarity with the term 'fiduciary,' this type of relationship is the core of client preference," said Scott Smith, director of advice relationships." Communicating this commitment believably in terms that clients understand is vital to ongoing client acquisition, especially as prospects approach their anticipated retirement date."

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