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LIMRA Consumer Research

Industry Issues

While the financial services environment continues to evolve with new regulations and more empowered consumers, one thing remains constant: consumers’ need for information and advice. Many factors come into play when consumers decide how they will address their needs and with whom they will work for assistance. As the financial industry evolves to meet the needs and expectations of today’s consumers, we must ask ourselves: What are consumers looking for when it comes to advice?

Key Findings

Consumers expectations of financial advice have changed.  Today’s consumers:

  • Feel they’re uneducated with it comes to financial topics
  • Expect access to both online resources and human resources
  • View retirement differently than their grandparents did

LIMRA’s 2016 Future of Advice Study delved into topics like education, robo-advisors and online resources, advice at the workplace, and their thoughts on paying advisors. 

Reports in The Series

Pre-Retirees: Advice on Their Terms (2016)

Find out how pre-retirees prefer to receive financial advice – and why – in their own words.

Humans or Machines for Advice? Both are Vital (2016)

As consumers have more avenues to find financial advice, advisors can leverage technology to better meet their growing needs.

Related Research

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