SOURCE: SEI

SEI

May 31, 2011 09:00 ET

SEI Quick Poll: Advisors Say Majority of Investors Are 'Worried They Will Outlive Their Savings'

'Great Recession' Added 3 Years or More to Investors' Retirement Plans

OAKS, PA--(Marketwire - May 31, 2011) - Investors are worried about retiring later and with less, according to an SEI (NASDAQ: SEIC) Quick Poll released today. More than three-quarters (82 percent) of advisors say their clients are "worried that they will outlive their savings" and nearly all say their clients had to delay retirement at least one year following the 'Great Recession.' Nearly one-third (30 percent) of advisors say their clients pushed back retirement by one to three years and more than half (58 percent) of advisors say their clients now expect to retire three years or more later than previously planned. The survey, conducted by the SEI Advisor Network, was completed by 212 financial advisors.

"We are just now starting to work our way out of the recession and many advisors are still dealing with clients who are feeling its effects," said John Anderson, Head of Practice Management Solutions for the SEI Advisor Network. "The focus for advisors should be to speak with clients now about how their post-retirement plans might have changed and to establish a course of action to make sure their portfolios and other plans are back on track in order to meet their goals. By proactively reaching out on this issue and creating a new strategy or revising an existing one, advisors can help alleviate the fears clients have about running out of money."

As the recession brought retirement issues to light, advisors seem split on the best age to begin discussing the topic with clients. Overall, advisors tend to agree that earlier is better. More than one-third (37 percent) say they begin advising clients on the topic when their clients are in their 20s. An additional 30 percent of advisors say they begin discussing retirement plans when their clients are in their 30s. Less than one-quarter (19 percent) say they wait until their clients are 40 or older.

"The recession hit a lot of retirement investments hard and has raised a number of concerns about having enough money to live comfortably," said Chuck Carrick, DMJ Wealth Advisors, Greensboro, NC. "We can't go back and change that now. But what advisors can do is help map out the next steps and help clients reevaluate their current situation and prepare as best they can for the future. When it comes to having this conversation, it's never too early to start. If clients weren't thinking about their retirement investments before, they are now and they don't want to worry about running out of money. That is something we can help them with."

The Quick Poll was conducted as part of a recent SEI Advisor Network webinar titled, "Getting Real About Retirement." The webinar provided information about how the recession affected the retirement market and offered information about various investment strategy options and tools to help speak with clients about the issue. To listen to the webinar, please visit www.seic.com/retirementwebinar.

About The SEI Advisor Network
The SEI Advisor Network provides financial advisors with turnkey wealth management services through outsourced investment strategies; administration and technology platforms; trust, banking, and institutional services; and practice management programs. It is through these services that SEI helps advisors save time, grow revenues, and differentiate themselves in the market. With a history of financial strength, stability, and transparency, the SEI Advisor Network has been serving the independent financial advisor market for more than 16 years, has more than 5,800 advisors who work with SEI, and $31.5 billion in advisors' assets under management (as of March 31, 2011). The SEI Advisor Network is a strategic business unit of SEI. For more information, visit www.seic.com/advisors.

About SEI
SEI (NASDAQ: SEIC) is a leading global provider of investment processing, fund processing, and investment management business outsourcing solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of March 31, 2011, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $429 billion in mutual fund and pooled assets or separately managed assets, including $179 billion in assets under management and $250 billion in client assets under administration. For more information, visit www.seic.com.

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