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Focused on Retirement
In part because the survey asked advisors to focus on December activity, index components related to year-end retirement planning got a boost; a 6.3-point jump in retirement plan contributions was the index’s biggest mover, while retirement product sales rose, as well. “Higher tax rates among the wealthy are leading to increased retirement plan usage,” one advisor who took part in the survey noted. Another respondent saw the retirement contributions as a sign of optimism: “Participants are putting more money into tax-deferred accounts, a sign that they are finally getting past the financial crisis of 2008.” Read more…