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Home > News > Investing > Self-Directed Investors Confidence Down Due to
Challenging Market
Investing November 22, 2022


SELF-DIRECTED INVESTORS CONFIDENCE DOWN DUE TO CHALLENGING MARKET

Nearly half of self-directed investors feel less confident in their ability to
save enough money to live comfortably throughout retirement, according to The
Janus Henderson 2022 Retirement Confidence Report.

By Noah Zuss
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Challenging market conditions have led to lower investor confidence for
self-directed pre-retirees and retired investors, according to a new Janus
Henderson study.  

Self-directed investors were defined as those who have established an investment
account with the Janus Henderson direct business channel, without the assistance
of a financial professional, according to the survey. Self-directed investors
are “individual investors, not retirement plan participants, although they could
be,” explained Matt Sommer, head of Janus Henderson Investors’ defined
contribution and wealth adviser services team.

The Janus Henderson 2022 Retirement Confidence Report finds 52% of survey
respondents are very concerned about the effect of inflation on their
retirement, 34% are somewhat concerned and 14% have little to no concern. Data
shows 40% are very concerned about the effects poor stock-market performance
would have on their retirement, 39% are somewhat concerned and 21% have little
to no concern.

Survey data also showed that 14% of self-directed investor respondents have
moved assets from stocks or bonds into cash because of concerns about the
effects of inflation and poor market performance. The majority of those surveyed
(65%) reported they currently use or intend to use dividend-paying stocks to
generate income in retirement, with 24% using or intending to use annuities, 23%
taxable bonds and 23% tax-free bonds.

Investors’ inflation and market performance concerns have also effected their
current and planned household spending behaviors, Janus Henderson found. The
data shows 41% of investors have reduced their spending because of markets and
inflation, and 39% plan to reduce their future spending.

The data also reveals significant gender differences for concerns, says Sommer.

“Females, as compared to males, appear to be much more concerned about the
market and were much more likely to report a drop in retirement confidence,”
Sommer says. “We found [that] extraordinarily interesting, because on one hand,
it was females who expressed more concern, but yet on the other hand, it was
males who may have acted impulsively trying to time the market.”

Among the investors surveyed, 45% of respondents reported they feel less
confident in their ability to save enough money to live comfortably throughout
retirement, 54% said their confidence has not changed and 1% reported higher
levels of confidence, the data shows.

“We interpret these results [as], yes the market performance of 2022 and rising
inflation [have] had an impact on people’s confidence, but confidence has not
entirely collapsed, because slightly more than half 54% said that their
competence has not changed,” says Sommer.

The survey was distributed to more than 250,000 randomly selected Janus
Henderson Direct Business Channel investors with a balance greater than $0 and a
valid email address on file in early October. The final sample consisted of
1,926 investors who completed the full survey. For purposes of the report, the
analysis of responses was restricted to investors age 50 and older and those who
are the sole or shared financial decision-maker for their households.

Tagged: market performance, retirement savings, Self-Directed Investing


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Home > News > Data & Research > Plan Advisers Value Trustworthiness, “Personal”
Touch from DC Recordkeepers
Data & Research November 22, 2022


PLAN ADVISERS VALUE TRUSTWORTHINESS, “PERSONAL” TOUCH FROM DC RECORDKEEPERS

Retirement plan advisers respond to DC recordkeepers that are present, active,
and trusted partners, according to an annual Cogent Syndicated brand survey.

By Alex Ortolani
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Retirement plan advisers value trustworthiness, reliability, and customer
service when it comes working with defined contribution recordkeepers, according
to the results of an annual survey by Cogent Syndicated.

Among the key drivers of how retirement plan advisers valued a DC plan provider
was having a human representative to support them and consistent and reliable
service for themselves as well as their plan sponsors and participants, says
Sonia Davis, senior product director for Escalent, Cogent’s parent company.

“The firm that actually sends a person to the meeting, that is quick to respond,
that is present—those are the kinds of things that get noticed,” Davis says.
“Advisers respond to recordkeepers who are super-service oriented and have a
customer-centric approach.”

The annual Retirement Plan Advisor Trends study of more than 538 plan advisers
gives DC plan providers and investment managers a view into how their outreach
efforts through the year land with advisers. This year, it also found that
advisers also responded to “strong wholesaler support and strong data
security/cyber-risk management practices,” Davis says.

When it comes to methods of communication, email has served as the most common
means of engagement with DC advisers, followed by website visits and
advertising. Other plan providers have been successful in building brand
awareness through external and internal wholesaler interactions. In contrast,
the survey showed that just a few firms have been able to gain traction via
methods such as live video conferences, social media, and mobile apps, according
to Davis.

“It’s about the personal touch,” Davis says. “There is the potential of firms
getting screened out for not being responsive to client needs … it’s really
common sense, but it’s important to note that is what really moves the needle.”


EMPOWER’S CLIMB

The survey’s brand recognition ranking often reiterates the strength of longtime
industry players Fidelity Investments, American Funds, and Vanguard, which took
the top three spots again in 2022. This year, however, Cogent highlighted the
rapid climb in the rankings by Empower Retirement, a recordkeeper founded in
2014 that has been on an acquisition tear in recent years. Empower is now
recognized by more than half of DC advisers managing $10 million or more in DC
assets (55%), up from 44% in 2021 and 31% in 2020.

“In the case of Empower, from what we can glean, unlike firms that benefit from
a strong consumer marketing presence, its success has largely originated from a
more concerted effort to connect directly with advisers through education,
support and conferences as it specifically pertains to retirement plans,” Davis
says. “That one-on-one, more personalized approach can certainly take more
investment, but appears to be paying off.”  

American Funds achieved best-in-class recall across the most popular types of
contact except advertising, Davis says. Meanwhile, Fidelity maintained its lead
in advertising, but Capital Group—which owns American Funds and is a sister
brand—is gaining traction, according to the researcher. Vanguard, meanwhile, is
making “notable inroads” for website visits and print material recall.

The Retirement Plan Advisor Trends  survey was started in 2015 with survey
participants who have an active book of business of at least $5 million and are
actively managing DC plans. Escalent is based in Livonia, Michigan.

Tagged: Cogent, DC plans, Escalent, Recordkeepers

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