Large asset managers are beginning to focus more on providing retirement income solutions, according to survey by Hearts & Wallets of nearly two dozen large, multifaceted firms with more than $10 trillion in assets under administration.
“Three-quarters of these firms’ resources, including budget and management attention, is devoted to older investors,” said Chris Brown, a principal of Hearts & Wallets. “Developing retirement income solutions is vitally or very important at more than half of firms participating in the research, and more than 80% report that retirement income has grown in importance over the last three years.”
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