2017 Impact of the Election and Market Highs on Retirement Planning

Who Was Surveyed? 

The American College of Financial Services delivered an online survey from January 4-6, 2017, to client-facing financial advisors holding the Retirement Income Certified Professional® (RICP®) designation. A total of 419 RICP® advisors responded to the anonymous survey over the three days. 

Key Takeaways Include: 

• 60% of advisors expected 2017 markets to be more volatile. Uncertainty makes it a good time to review retirement income plans to make sure they are equipped for market changes. 
• 77% of advisors stated that changes to retirement income plans due to increased market volatility would depend on individual client situations. Retirement income plans need to adjust to changing client risk tolerances and must be tailored to individual situations as there is no one size fits all retirement income plan. 
• 68% of advisors reported that some of their clients were expressing increased concerns regarding their retirement security following the election. While a new administration brings uncertainty and increased public policy risk, it is a good time for clients and advisors to sit down and review the existing retirement plan. 
• 40% of advisors planned to buy income annuities for retired clients. All time market highs are a good time to lock in gains to generate additional lifetime income. 

For all the findings, access the report now.