Data & Research June 15, 2010

Younger Couples More Likely to Work Together on Finances

It is becoming less common for one member of a couple to assume all of the financial responsibility and decision-making, according to a new survey.
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Nearly three-quarters (71%) of couples ages 35 to 44 report they make decisions about managing debt as a team. This is compared to 55% of couples ages 65 and older who reported the same, according to a recent survey of 1,058 adults by TD AMERITRADE Holding Corporation.

Of couples ages 65 and older, 26% report the breadwinner alone makes decisions about paying bills, compared to 17% of couples ages 18 to 34. Likewise, 28% of couples ages 65 and older report the breadwinner alone is responsible for making decisions about how to manage debt, compared to 13% of couples ages 35 to 44.

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“It’s clear that we’ve seen tremendous changes occur over the past few decades with respect to financial roles,” said Diane Young, director, retirement and goal planning, TD AMERITRADE. “When women entered the workforce in large numbers in the 1970s and 1980s, they took on more of a voice in the family’s financial matters, which is something that older generations simply did not experience—at least openly. As a result, younger generations tend to work together on most financial matters.”

Of those who are single, the survey found some differences between whether they made decisions by themselves or with someone else. Nearly all, 94%, of those ages 55 to 64 who are single report making decisions about managing debt alone, compared to 76% of those ages 35 to 44 who are single and report the same.

The vast majority, 97%, of those ages 65 and older who are single report making decisions about paying bills alone, while only 3% report making decisions about paying bills with someone else. Three-quarters (76%) of those ages 18 to 34 who are single and report making decisions about paying bills alone.  Of those who are single, 20% of those ages 35 to 44 report making decisions about paying bills with someone else.

Deals & People June 15, 2010

Russell Beefs Up Alternatives Team

Russell Investments has added personnel in the Americas, Europe, and Asia Pacific in alternative investments.
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Joining Russell’s Sydney office is Samantha Steele, who has been hired as a senior research analyst focused on real estate and private equity manager research in Asia, Australia, and New Zealand, according to a press release. Steele has a decade of experience working in the U.K. and European property markets, most recently with European asset manager KBC Asset Management (KBCAM).

In Russell’s London office, Tom Richardson, who joins Russell from Cushman & Wakefield Investors, has been appointed as a research analyst on the Private Real Estate team. His primary role will be researching and ranking European real estate funds.

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Three new North America-based alternative investing specialists charged with global manager research assignments have also joined Russell’s manager research group:

  • Cameron McVie has been named senior research analyst, and his responsibilities will center on hedge fund research, and in particular, single strategy credit, and event-driven mandates. McVie previously worked with BlackRock Alternative Advisors and comes to Russell most recently from Logic 20/20.
  • Brett Deits, who also joins Russell from BlackRock Alternative Advisors, will serve as a senior research analyst focused on global private investment fund of funds opportunities, including private equity and real estate.
  • Wade Millen, who last worked at Wurts & Associates, will assume a research analyst role, focusing primarily on assessing global third-party fund of hedge funds.

Victor Leverett, managing director of Russell’s global alternative investments team, said Russell is expanding its manager research and consulting advisory services globally as clients build out their alternative investment portfolios.

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