Data & Research September 22, 2008

Even Higher Income Families Feel the Squeeze

A recent online survey from Disney Family.com found that 91% of parents said the U.S. economy is an extremely/very important issue for their families.
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According to a press release, 46% of parents surveyed said they are not able to save for their children’s college education or have not yet started saving, expecting their child to get student loans or earn scholarships. In addition, 61% of respondents indicated they are nervous about retirement.

Even those with higher incomes are not saving for their retirement: 37% of households earning $100,000 to $125,000 a year and 47% earning $125,000 or more a year reported they have not started saving for retirement yet.

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Other survey findings include:

  • 67% of respondents reported their biggest economic concern is either “making ends meet” or “paying off debt.”
  • 74% of respondents have cut or reduced eating out, and 71% have eliminated personal splurges.
  • 65% of people have changed their driving habits, and nearly half of respondents feel the government should eliminate gas taxes to offset high gas prices.

The results of the survey are based on responses of 9,200 Disney Family.com visitors worldwide between August 11 and August 25.

More information is available at www.family.com.

Deals & People September 22, 2008

John Hancock Consolidates Investment Management Services

John Hancock's Investment Management Services (IMS) group announced it expanded its role of providing investment manager selection and review services within its parent company, Manulife.
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In the U.S., IMS has been responsible for the selection and review of investment managers for John Hancock for more than a decade, and in Canada, the IMS team in Toronto has performed the same function since 2002. Now these groups, along with new members of the team serving the Asia Division, have joined efforts to form Global IMS, a press release said.

The group oversees the investment platforms across the company’s various business units, including mutual funds, retirement plans, college savings, variable annuities, segregated funds and variable life insurance. Global IMS will also focus on the worldwide oversight of Manulife and John Hancock’s fund-of-fund and asset allocation products, including all target-risk and target-date funds.

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“Integrating the manager selection and review function across divisions enables us to provide one point of contact for our global investment partners, allowing us to build stronger relationships,” said Bruce Speca, executive vice president, IMS, in the release. “The group, which has team members in Boston and Canada, now leverages local resources across regions.”

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