IRI Insight Newsletter: Advisors' Take on The Retirement Income ChallengeMitchell H. Caplan
The September edition of the Insured Retirement Institute’s IRI Insight Newsletter features a byline from Jefferson National’s CEO Mitch Caplan. His report addresses the “very real” Retirement Income Challenge, one of the many topics highlighted in Jefferson National’s inaugural Advisor Authority study.
When asked to name their clients’ single biggest concern over the next 12 months, advisors reported that retirement tops the list. But even in the face of a many challenges—from retirement income, to volatile markets, and increasing competition—RIAs and fee-based advisors are overwhelmingly positive about the future of their business. The vast majority believe that the profitability of their practice will increase. The most successful advisors are investing in an “emerging market” of new clients and have a strategy in place to retain the heirs of their current clients.
As Mr. Caplan concludes, “by balancing the retirement income needs of current clients with legacy planning initiatives and family-centric planning for their future clients, advisors can ensure that all of their clients—and their own firm—are in the best position for the future.”