The importance of a good relationship between a client and their financial professional can’t be understated. It requires trust, understanding, expertise, and working toward a mutual goal. In this installment of generational research – Gen-to-Gen – consumers share their thoughts on working with financial professionals for retirement and financial planning. Learn how long they’re staying with their financial professional, how closely they choose to work together in retirement planning, and what keeps them coming back each year.
Take a closer look at the key learnings, including:
Clients seem to be in it for the long haul
Trust keeps them coming back
Most financial professionals ‘moderately involved’ in clients’ planning
Younger generations showing interest in starting a financial professional relationship
Millennials are most interested in fixed index annuity (FIA) benefits
In uncertain times, consumers seem to value the knowledge and expertise a financial professional could bring to their retirement planning. They even show overwhelming interest in a fixed index annuity, which could help provide growth potential and protection, no matter the market conditions.
The 2020 Midland National Gen-to-Gen Retirement Study looked into the saving, spending and communication habits of four generations covering everyone from age 18-55+. Explore key learnings such as how consumers across each generation have the same retirement fears, and repeat the same financial and retirement mistakes.
The 2020 Midland National Gen-to-Gen Retirement Study looked into the saving, spending and communication habits of four generations covering everyone from age 18-55+. Explore key learnings such as how men and women grade their retirement efforts, their confidence in reaching their retirement goals, and comfort with financial risk.
It is becoming increasingly important for families to have end-of-life and legacy planning discussions to ensure transparency and a smooth transition. In our groundbreaking Gen-to-Gen research study, 39% of our respondents said their parents have never discussed their end-of-life plans with them. We sought to uncover why there’s so much lack of communication around this important topic.
In this installment of our generational research – Gen-to-Gen - we asked the hard questions about retirement confidence. We’ll take a look at 1) How consumers view their current retirement preparedness, 2) Some of the factors that influence how consumers feel about retirement, and 3) How to help forge the path for consumers to face retirement with confidence.
Clients may be feeling the effects both in their day-to-day personal financial picture as well as in their planning for the future. We surveyed hundreds of consumers about how COVID-19 impacted their finances and we are ready to share what we learned.
The term financial professional is not intended to imply engagement in an advisory business in which compensation is not related to sales. Financial professionals that are insurance licensed will be paid a commission on the sale of an insurance product.
Insurance products issued by Midland National® Life Insurance Company, West Des Moines, Iowa. Product and features/options may not be available in all states or appropriate for all clients. See product materials for further details, specific features/options, and limitations by product and state.
Fixed index annuities are not a direct investment in the stock market. They are long term insurance products with guarantees backed by the issuing company. They provide the potential for interest to be credited based in part on the performance of specific indices, without the risk of loss of premium due to market downturns or fluctuation. Although fixed index annuities guarantee no loss of premium due to market downturns, deductions from your accumulation value for additional optional benefit riders or strategy fees associated with allocations to enhanced crediting methods could exceed interest credited to the accumulation value, which would result in loss of premium. They may not be appropriate for all clients. Interest credits to a fixed index annuity will not mirror the actual performance of the relevant index.