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June 23, 2010 Wednesday 09:32 AM EST
SECTION: PERSONAL FINANCE; Retirement
LENGTH: 277 words
HEADLINE: Fund Firms Playing Role in Social Security
BYLINE: Joe Mont
BOSTON (TheStreet) — Investors are seeking more and better guidance from advisors on the role that Social Security plays in retirement. Corporate Insight, a research firm focused on the financial-services industry, found that only 47% of mutual-fund firms offer materials to assist financial advisors in guiding clients through the maze of Social Security benefits.“Mutual-fund firms need to recognize that arming advisors with Social Security-related resources is as important as educating retail investors directly,” says Lauren Wistrom, a senior analyst for mutual-fund firms at Corporate Insight. “Advisors can be much more effective when they are able to use a client’s real data to educate them about retirement income planning.” BlackRock(BLK:NYSE) earned an “A” for offering the most comprehensive information, pooling all related resources and tools in a single online location. Franklin Templeton(BEN:NYSE) and Invesco(IVZ:NYSE) also garnered high marks for providing detailed information online.Of the firms that offer Social Security resources to advisors, all but two provide interactive tools or calculators to help clients determine how the benefit will supplement retirement income. Only BlackRock and Invesco, however, offer advisors informational webcasts. The only firms that suggested advisors explore funding a retirement not supplemented by Social Security with their clients were Federated Investors(FII:NYSE) and OppenheimerFunds.— Reported by Joe Mont in Boston. RELATED STORIES:>>Payback: Making Money Off Social Security>>Social Security: Where the Candidates Stand Get stock ideas and investing advice on our sister site, Stockpickr.com.
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