Novantas Webinar Series — The Shadow Retirement Market

2009-05-27

Challenges and opportunities for banks

With the financial meltdown over the past year, what should banks, brokerages, and insurance companies do to help people deal with their depleted retirement accounts?

Retirement is a pretty scary concept now that nest eggs have shrunk by up to 40%. Shadow retirement money is actually retirement funds that people keep in non-retirement financial products; products such as bank CDs, or stock and bonds. The customer intends to use this money for retirement, but to the rest of the world it looks no different than any other current short-term savings.

There is a real opportunity to help people manage this shadow retirement money. This won’t be easy and it won’t happen overnight. Most financial institutions are not prepared for this. They have built organizations, processes, systems, and compensation structures to keep official retirement money walled off from shadow funds. These walls need to come down. Business systems need to be able to work with individuals across the entire nest egg.

Listen to Wayne Cutler in this excerpt from the recent Novantas webinar on the subject of the shadow retirement market.

To sign up for advance notification of future Novantas webinars, please send an email to evanckert@novantas.com.

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