RMJ – Fall 2015 Issue

Letter From the Editor

First things first – Congratulations, RIIA®, on 10 years of discovering, validating and teaching the new realities of retirement from the perspective of “The View Across the Silos℠”! There has been significant progress made towards the goal of achieving better retirement outcomes for clients. It is truly an honor to write the Letter from the Editor for this issue of the Retirement Management Journal®.

Inside this issue, sponsored by PricewaterhouseCoopers LLP, you’ll find an anthology of short essays from visionaries on what they see the next decade may bring to the retirement industry. In addition, we have a new paper from Dr. Wade Pfau, former Curriculum Director for RIIA. This paper, underwritten by OneAmerica and shared here by permission, demonstrates the value of leveraging two traditional insurance products to achieve better outcomes.

Having been involved with RIIA since its founding, I am amazed not only at how well RIIA has focused on its core mission, but how astute the organization has been in early identification of major trends that would impact and change the financial industry, including:

  • The market shift from accumulation to distribution
  • That trillions of dollars of retirement savings would move
  • Large market segments lacked convenient access to the products, tools and advice that would be best positioned to meet their needs
  • Existing asset accumulation products, tools and processes would be inadequate for providing income generation
  • Early income generation products, tools and processes would not be sufficient to meet client needs

As the industry acknowledged the changes and increasingly added income creation to its repertoire, RIIA continued to lead the way. Its contributions have included core concepts such as the Household Balance Sheet View℠ and Retirement Allocations, as well as the robust Retirement Management Analyst® designation.

What might the next decade hold? Turn the pages in this issue of the RMJ® and envision the future with…

The Retirement Income Industry Association®
We’ve included an update to RIIA’s 2006 Founding White Paper. It’s not only a look back at the association’s evolution – RIIA provides guidance on where it sees new focus and trends developing.

The Practitioners
Hear from advisers and their advisers on the challenges of meeting the responsibilities of advising in the future, the need to change business models, products and structures to deliver future retirement
solutions and why the question of future generations will be, “Grandpa, what is retirement?”.

The Academics
In this section, 4 academicians raise questions to uncover what’s needed in the future, recommendations for key changes in products and services and a look at a how energy can impact future retirement.

The Researchers
What does the data tell us about the retirees of today and tomorrow, what tools are needed for the “New Retirement Journey” and who are the stakeholders in the evolution of retirement and retirement planning?
Our researchers share their insights.

The Industry
The view from inside the industry is shared by our 4 authors in this section about what they’ve learned and what they see as changes needed to deliver continued profitable growth with quality customer outcomes.

As always, Robert Powell, editor, and the RMJ staff and volunteers thank you for supporting the RMJ. Please consider submitting papers for consideration in future issues and, members, don’t forget to distribute the PDF version of the RMJ to your constituents.

Kim McSheridan, RMA®
Assistant Editor
[email protected]

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