Research & Thoughts

Integrated Multichannel Services are Critical to Maximizing the Institutional Retirement Advice Opportunity

Advice for the masses?

This Capco Thoughts white paper discusses how banks and brokerages can deploy online services to meet the investment needs of retirement plan participants. The paper also provides insights into how these services can be used to strengthen relationships with various client segments through a wide spectrum of services.

The recovery in financial markets has provided a ray of hope for Americans approaching retirement age. Nonetheless, the plunge and subsequent downturn over the past several years are having a lasting impact across generations, from the 78 million baby boomers now entering their retirement years to younger generations uncertain about their jobs and financial futures.

Retirement planning has become more urgent for both baby boomers and younger generations in the wake of the financial crisis. For banks and brokerages, helping people of all ages prepare for retirement, particularly those in the large “mass market” historically not served by investment advisers, can be a substantial new business opportunity.

Addressing the mass retirement market with the same face-to-face approach used for higher-net-worth clients is both impractical and prohibitively expensive. Because of this, how well a firm does business online will be a key factor in whether it can capture and profitably serve the mass market.

This Capco Thoughts white paper examines the role of online services in meeting the investment needs of retirement plan participants, as well as the potential to strengthen relationships with other client segments through a wide spectrum of services. The paper describes online-driven services and features that firms can implement to increase asset acquisition and retention and create competitive advantage.


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