Income, insurance and asset protection will be the name of the game for the 78 million Baby Boomers as they retire, and only those investment firms that can meet these criteria will win the upcoming $11 trillion game.
That is the assessment of Conning Research & Consultings new report, "Winning the Coming Battle for Retirement Assets."
"Whats fascinating about the retirement market today is that even the leading mutual fund companies are not capable of meeting the entire product and advice needs of retirees," said David Montgomery, vice president at Conning. "This lays the groundwork for a dramatic change in the competitive landscape."
Companies that do the best job of creating appropriate investment products and managing client information and sharing that information across the organization, are likely to be the leaders, Montgomery said.
Roughly $300 billion transitions out of qualified retirement plans each year, and it is these assets that are the key to the retirement rollover market, Conning said.