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.


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