Filed Under:Markets, Employee Benefits

Investors prefer one-on-one counseling

According to TIAA-CREF

When it comes to financial investing, people prefer to be counseled on the matter in a way that affords them privacy and the upmost attention.

According to a recent study from TIAA-CREF, a majority of Americans (55 percent) prefer to receive one-on-one financial advice from an advisor. Much of the public's need for such service is attributable to trust, which can be a barrier for individuals seeking financial advice. 

In it's second annual Financial Advice Survey, the financial services organization found that 50 percent of workers say it's hard to know what sources they can use or who can be trusted to provide advice. TIAA-CREF suggests employers provide employees with access to financial advice throughout their careers, allowing employers to build trust and loyalty, retain talented workers and reinforce the importance of financial planning.

“Convenience, trust and time are key when it comes to receiving financial advice. Today, more than ever, access to financial advice at work can help employees be more intentional about planning for the future and confident about their retirement security,” said Teresa Hassara, executive vice president of TIAA-CREF’s Institutional Business. “With this being National Save for Retirement Week, employers have the perfect opportunity to talk with their employees about saving for retirement and encourage them to take advantage of the resources available through the workplace.”

Some of the goals of National Save for Retirement Week include:

  • Make employees more aware of how critical it is to save now for their financial future 
  • Promote the benefits of getting started saving for retirement today 
  • Encourage employees to take full advantage of their employer-sponsored plans by increasing their contributions
TIAA-CREF found that advice on allocating retirement plan contributions and taking better advantage of employer-sponsored plans can push workers towards better informed financial decisions. 

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]

Provided by LIFEHEALTHPRO

In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI

Provided by LIFEHEALTHPRO

Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's

Provided by LIFEHEALTHPRO

An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting

Provided by LIFEHEALTHPRO

Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources

Comments

Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Close
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.