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Retirement Market 2021

Publisher GlobalData
Published Mar 25, 2022
Length 40 Pages
SKU # GBDT17166128

Description

Retirement Market 2021

Summary

The retirement and pension industry has been slow to digitally revolutionize, but in recent years some players have taken much-needed steps to do so - especially as the intergenerational wealth transfer puts pressure on wealth managers to keep family wealth in-house. Not to mention, retirement is a key motivation for both the younger and older generations to invest in the first place. Successful retirement services do not solely focus on retirees, but this major life event requires building a relationship with the heirs to the throne as early as possible, which is key for retention. With simplicity and customer experience coming to the forefront of the wealth management space via technology, utilizing emerging technologies to manage pension services will be welcomed by customers.

This report discusses the global retirement wealth market, covering the current size of the prize and forecast growth over the next few years. It focuses on retiree investment behavior and how it differs from pre-retirement. The report also includes analysis on which retirement services are in demand among different demographics and how wealth managers and financial services providers are using technology to develop their retirement propositions.

Scope
  • The global liquid wealth held by retirees is forecast to surpass $35 trillion by 2025, with HNW individuals surpassing $17 trillion by 2025.
  • Liquid assets outweigh pension assets in most countries, but the value of pensions held by retirees tends to outweigh non-pension assets.
  • Over a third of global wealth managers do not offer retirement services, missing out on a lucrative segment.
  • As female investors’ wealth continues to grow, they represent a worthwhile demographic for pension providers to target.
Reasons to Buy
  • Understand the size and forecast for the global retiree wealth market, including regional variations and market leaders in terms of value of pension assets.
  • Explore the importance of retirement as a driver for consumers to become investors and how it dominates decisions regarding their investment portfolio.
  • Gain recommendations on what wealth managers and financial services providers must do to hold on to retiree wealth and how to target different demographics.
  • Look at how technology is transforming retirement services and understand best practices in retirement planning.

Table of Contents

40 Pages
    • Market overview
    • Key findings
    • Critical success factors
    • The global retiree wealth market is expected to surpass $35 trillion by 2025
    • Regional variations in pension and investment holdings are significant
    • The pension market in the US is the largest worldwide
    • Retirement is the core investment driver the world over
    • US retirees are most adventurous regarding their portfolios
    • Over a third of global wealth managers do not offer retirement planning products
    • Targeting women with retirement services is critical
    • Digital wealth management providers are attracting retirees
    • Traditional players are beginning to focus on digital retirement services
    • Digitization of retirement services is needed to broaden access to retirement advice
    • A high-tech, high-touch multi-generational retirement proposition will give providers a competitive advantage
    • Abbreviations and acronyms
    • Definitions
    • Methodology
    • Secondary sources
    • Further reading
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