Ibbotson Associates has launched a set of materials aimed at educating advisers and their clients about retirement income needs. The company has been researching the subject for several years and, with the impending retirement wave of the Baby Boomers, Ibbotson hopes to keep in step with the leading edge of the shift away from accumulation.
"The financial services company that provides retirement income solutions to help individuals make their money last through retirement can win the lions share of those clients. But advisor training must start now," said Mark Kowalczyk, managing director of sales and marketing at Ibbotson.
Increasing life expectancies and Boomer assumptions about high quality of life during retirement have underscored the need for planning during that phase of life. Despite that fact that few consumers opt for life annuitization on variable annuities, the products are seen as a pathway for significant business for insurers because of their ability to counter longevity risk.
Ibbotsons first round of training materials includes two brochures, one intended for clients and the other for advisers, detailing these retirement risks and how various products can help ameliorate risk. Also, the company is providing live workshops on retirement income planning. Finally, Ibbotson has product a $250 PowerPoint presentation and a $25 chart (the full box set of 15 charts is $225) designed to illustrate the use of annuities for retirement income.