Be a preferred retirement adviser

Credit unions have a tremendous opportunity to offer their members guidance and support.

Credit unions can become preferred financial advisers for preretirees, according to a Filene Research Institute report.

The report, “Baby Boomers and Retirement Planning: Recent Trends and Future Implications for Credit Unions,” synthesizes the results of Filene’s survey of more than 700 preretirees to make the following recommendations:

  • Provide asset-management services for high-income households to increase your footprint in the boomer market and to increase the share of their assets in credit union-related products;
  • Offer financial advice to low-income households to help them start planning for retirement as early as possible;
  • Discuss the wide range of options available to boomers. Start with stable fixed investments such as bonds and then build a diverse portfolio based on the individual’s risk profile;
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