New Guide Gives Financial Professionals an Edge with Boomers
July 9, 2008 (Des Moines, IA) —The competition is intense to help some 78 million baby boomers get ready to retire over the next decade. Financial professionals can differentiate themselves and tap into an estimated $8.4 trillion dollar1 opportunity with yet another retirement income tool from the Principal Financial Group®.
"Retirement Readiness Reviews" is a guide that helps financial professionals walk their clients through retirement planning. Using the guide, financial professional can help clients
- Define how they want to spend their retirement
- Set their retirement timeline
- Understand the risks they may face in retirement
- Take steps toward managing those risks
The "Retirement Readiness Reviews" guide is the latest addition to a program The Principal® launched last year that helps financial professionals expand their existing book of business through cross-selling and referrals.
"As their boomer clients inch closer to retirement, there is a huge opportunity for financial professionals to use Retirement Readiness Reviews to strengthen relationships," said Steve Becker, vice president, Business Development—Annuity Services at The Principal. "We're excited to continue giving financial professionals the resources they need to work their existing book of business and increase sales."
"The Principal has been helping people transition into retirement and manage income for years. Retirement Readiness Reviews is the latest in a broad range of tools and services we've developed to help financial professionals and their clients through all of life's stages---and there will be more," said Ron Danilson, senior vice president, Retirement and Investor Services at The Principal.
The new Retirement Readiness Reviews guide gives clients a thorough way to plan for retirement and make critical decisions. The guide includes:
- Interactive checklists based on length of time to retirement
- A workbook to plan for and manage income in retirement
- Information on Social Security
- A retirement income timeline
- Budget worksheets
The Retirement Readiness Reviews guide is part of the "More Business. Less Time." client relationship management program from The Principal. The program is available free to bank financial professionals, career agents and brokers who do business with The Principal. For more information contact the Annuity Sales desk at 866-309-1623.
About the Principal Financial Group
The Principal Financial Group® (The Principal ®)2 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $304.2 billion in assets under management3 and serves some 18.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
1) "Playing the Long Game: Global Asset Management 2006", Boston Consulting Group, December 2006
2) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
3) As of March 31, 2008
