New consumer needs, a large potential market and the absence of an established market leader make the retirement income market a potentially exciting opportunity.
This paper, authored by Ann Connolly, director, Deloitte Consulting LLP, examines the size and characteristics of the retirement income market, highlights innovation opportunities, assesses the competitive landscape, and lays out action steps that financial services companies across sectors – banks, insurance companies, mutual fund companies, and brokerage firms/investment managers – should consider taking to position themselves for leadership in the market.
The report describes:
The boomer retirement market, and why it’s different than preceding generations
Areas targeted for innovation:
*Product, Advice, Sales, and Service
*Opportunity/advantage/challenge assessment for banks, insurers, mutual funds and brokerage/investment managers
*Ten point action plan for adapting current operating models for future success