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89% of 401(k) Investors Want Allocation Help


A majority of Americans find retirement planning confusing and want additional help, a study by the ING Retirement Research Institute conducted by the Boston Consulting Group found.

Eighty-nine percent of the 2,600 401(k) investors surveyed would like help with asset allocation, 84% want solutions for calculating and creating retirement income, and 79% would like an annual financial checkup to set and measure their progress. Less than half, 48%, feel that they are in control of their retirement plan investments.

"Most Americans are busy with their jobs, their families and their personal pursuits, and say that they don't have the time or interest to become experts in retirement planning," said Lynne Ford, CEO of ING Individual Retirement. "The results from our study were clear: Americans want a roadmap to help them navigate to and through retirement."

Ford added: "As a whole, consumers highly value choice, yet too much can be overwhelming. Consumers also value the control to make their own retirement-planning decisions but want detailed instructions on how to accomplish their financial objectives."

 

Moody's Lowers Outlook On Fidelity to 'Negative'

Moody's Investors Service has lowered its outlook on Fidelity Investments from "stable" to "negative."

"Today's outlook change reflects the relatively weak performance of Fidelity's equity funds, which has led to a loss of market share," said Moody's Vice President Dagmar Silva. Vanguard overtook Fidelity as the No. 1 mutual fund company in the nation by assets last year.

 

68% of Asset Managers Use Social Media: Kasina

Although 68% of asset managers have a social media strategy, that number should be far higher to meet consumer and financial intermediary interest, according to a new report from Kasina. Only 34% have a budget dedicated to social media and 46% have firm management commitment to execute the strategy.

"Social media has fundamentally changed how buyers interact with brands," said Lee Kowarski, a principal at Kasina and sponsor of the report, "Harnessing Social Media to Drive Business Results."

"Millions of users, including many financial intermediaries, spend hours each day recommending, following, sharing and connecting on social platforms such as Facebook and Twitter," Kowarski said.

The report includes benchmarks and best practices for building a compelling business case for social media and gaining executive support. It also takes executives through the steps they need to make to set social media objectives. MME

 

Quote of the Week

"The easy money off the bottom has been made, but we have a safety net beneath the market: solid corporate earnings, record levels of cash, free cash flow, and cash on the sidelines."

- Bob Turner

Chief Investment Officer

Turner Investment Partners