Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact email@example.com.
SOURCE Signator Investors, Inc.
Majority of Working Investors Say They're Very Concerned
Survey Points to Opportunities for Advisors
BOSTON, Oct. 30, 2013 /PRNewswire/ -- A new survey of investors who are currently working shows concerns about rising health care costs, changes to Social Security and/or Medicare and running out of money are among the greatest financial worries in retirement, and the percentage citing them has increased since prior surveys.
According to the study, conducted as a part of the John Hancock Investor Sentiment Index by Mathew Greenwald & Associates for Signator Investors, Inc., the financial risk of rising health care costs in retirement was the greatest concern of the non-retired investors surveyed with a majority (55 %) saying they were very concerned, a 7-point jump from last year's survey. Overall, 89 percent of this year's respondents expressed some concern about rising health care costs.
"Though being able to afford healthcare isn't a new issue, the fact that more affluent workers are very worried about it than not, points to the value advisors can provide to help clients develop strategies to manage it," said Matt Rigatti, vice president, Signator Investors, Inc. "We've already seen movement in the direction of tools that address healthcare, specializations – or including a healthcare finance-oriented specialist on a client's team and I suspect we'll continue seeing growth in that area."
The following two high ranking concerns are significantly lower, and had smaller increases. Changes to Social Security and/or Medicare was the second most cited financial risk with slightly more than one-third (34%) citing they were very concerned, up from slightly below a third (32%) last year. Overall, nearly three-quarters (74%) of respondents cited concern about this risk.
The third most "very concerning" risk, running out of money in retirement, crept up from 26 percent in 2012 to 28 percent in 2013. Overall, 65 percent of respondents this year felt this issue was of concern.
"All of these topics are related," said Rigatti. "And similar to last year, a large percentage of non-retired investors who say they work with advisors (73%) said they felt it was important that their financial professional have special retirement income certification in addition to other required credentials."
This survey of 1,013 investors, 703 of whom were not retired, was conducted online by independent research firm Mathew Greenwald & Associates. Respondents were selected from among members of Research Now's online research panel. To qualify, respondents were required to participate at least to some extent in their household's financial decision-making process, have a household income of at least $75,000, and assets of $100,000
About John Hancock Financial and Manulife Financial
John Hancock Financial is a division of Manulife Financial, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife Financial in Canada and Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were C$567 billion (US$539 billion) as at June 30, 2013. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.
About John Hancock Financial Network, Signator Investors, Inc. and Signator Financial Services, Inc.
John Hancock Financial Network (JHFN) is a national network of independent firms with approximately 1,850 financial professionals across the U.S. A leader in the financial services industry having the stability and scale to offer an innovative business model, JHFN gives entrepreneurial financial professionals the power to effectively build unique businesses, based on their own vision and market opportunity.
Signator Investors, Inc., and Signator Financial Services, Inc. are the dual registered broker-dealer/registered investment advisers of John Hancock Financial Network, and offer financial professionals a wealth of resources and support for business and professional development.
To help advisors best meet their clients' needs, Signator Investors, Inc. and Signator Financial Services, Inc. provide an open product platform including a comprehensive range of investment, advisory, and protection products from leading carriers. Advisors affiliated with the Signator broker-dealer/registered investment advisers have access to support for financial planning; an integrated technology platform; defined contribution resources; a dedicated practice management team; a marketing portal providing turn-key programs with compliance-ready, customizable templates; an annual practice advancement conference; a top producer program and an industry-leading equity and succession program.
©2012 PR Newswire. All Rights Reserved.