In this e-Monitor Report, we looked at retirement centers offered by brokerage firms. We noted whether firms offer retirement planning content on the public or private site or both. We examined the topics covered in retirement centers and whether firms organize them by life stage. We also covered planning tools such as retirement savings calculators.
In our research, we found that the majority of e-Monitor firms – 90% – offer an online retirement center. Firms also make retirement content easy to find; 76% organize their materials within a main tab or sub-tab that is accessible from a main navigation menu. Four firms place retirement content as a main tab on both the public and private sites.
The majority of retirement centers, 76%, are comprised of content that is centered on retirement planning stages. While most firms begin the content with retirement preparation, one firm begins with content meant for those already retired. Beyond retirement stages, three firms discuss retirement planning by age group.
While retirement centers still generally focus on the earlier stages of the planning process – accumulating and growing savings – a number of firms are increasingly addressing retirement income. Currently, 52% of firms in this report offer articles about maximizing income during retirement, and 35% of firms address retirement income risks.
All but two firms in the report offer some type of retirement planning tool or calculator. Over 80% of the firms we reviewed provide a basic calculator that helps investors estimate how much they have saved for retirement. But only half of those firms also identify savings gaps or shortfalls.
Additional Key Findings:
- Six firms currently offer a cash bonus for opening an IRA with the firm
- 65% of firms also offer IRA-related tools
- Four firms offer a retirement planning tools that aggregates existing account information