Advisers Plan to Add More Retirement Services to Practices

A survey by asset management consulting firm kasina and Horsesmouth’s FA Vision service found that less than half (about 44%) of advisers offer assistance with the so-called “softer” aspects of retirement, such as helping clients plan for nursing homes and second careers. However, that percentage could soon be up to about 73%, as 29% of surveyed advisers are considering offering those services.

Furthermore, while about 58% of advisers already help clients analyze their Social Security income, about 29% are considering adding the service. Advisers are also considering adding other retirement-oriented services, such as budgeting and cash-flow management (about 18% are considering adding, and 67.5% already offer the services); annuity needs analyses (about 16%, with about 73% already offering); estate planning (about 15%, with 75.5% already offering).

The results are based on a survey conducted in February as part of FA Vision that received 550 responses.