Retirement Assets On the Move

Fact-Based Trends from Cogent Reports™    

Who is Rolling Money Over and How to Target Them

Here is one more reason for financial services firms to target Millennials: 50% are likely to roll money out of plans with former employers into an IRA in the next year.

In fact, only one in four (27%) Millennials intend to leave his or her retirement savings in previous employer plans, compared with 38% of Gen Xers and at least half of Baby Boomer and Silent Generation investors. Half of Millennials are likely to roll the money into an IRA, while an additional 24% anticipate consolidating assets in their current employer’s plan.

As Millennials prepare to select a destination for their former-plan assets, rollover IRA providers will benefit from focusing their firm’s outreach efforts on emphasizing the most important attributes driving brand consideration: “cares about me” and “dedicated to helping me reach my retirement goals.” This year, rollover prospects are calling for empathy and assistance with saving for retirement. Providers that answer on an emotional and functional level will be best positioned to capture former-employer plan assets.

Former Retirement Plan Activity | Cogent Reports

Want more on where millennials are looking to roll their assets? Download the fact sheet to learn more about our latest Investor Rollover Assets in Motion™ report.


This entry was posted in Brand and Messaging, Financial Services and tagged by Julia Johnston-Ketterer. Bookmark the permalink.
Julia Johnston-Ketterer

About Julia Johnston-Ketterer

Julia Johnston-Ketterer is a senior director in the Syndicated Research division. She has more than 15 years of experience leading research initiatives on the client- and supply-sides of the financial services industry focusing on investors, advisors and broker-dealers. Prior to joining Market Strategies, Julia was vice president of business development for Market Probe, Inc. and research associate for Richard Day Research, where she managed financial services clients and conducted client satisfaction studies and PR research programs. Julia also spent ten years at Fidelity Investments. While there, she built a research team that provided primary and secondary research to internal marketing and communications partners. Julia earned an MBA in finance and communications from Simmons School of Management and a bachelor’s degree in French and international relations from the University of Wisconsin-Madison. While she can claim having twice bungee-jumped in New Zealand, Julia’s current adventures outside of work include being a hockey mom, taking hikes with her dog and planning her next family beach vacation.

Leave a Reply

Your email address will not be published.