New research from TowerGroup predicts that the challenges inherent in retirement income planning and asset decumulation will soon prompt man...

New research from TowerGroup predicts that the challenges inherent in retirement income planning and asset decumulation will soon prompt many US households to consolidate assets with a single advisor. The opportunity for financial services institutions to gain or lose assets is significant, according to the research. The report, "Winning the Battle for Retirement Assets: Wealth Management or Product Pitch Polemics?" by the Brokerage and Wealth Management practice at TowerGroup, defines the opportunities and requirements for the mass market, affluent and high net worth retirement segments, and evaluates the service and strengths of various product manufacturers and distributors in meeting those requirements. Retirement assets in various plan types under the control of individual investors in the US total $9 trillion, with business liquidation over the next decade potentially resulting in another $10 trillion in assets. According to TowerGroup, competitive advantage will flow to financial services institutions that can manage clients' finances and expectations as they move from mass market to affluent to the high net worth financial segment during their working years - and then back down to mass market as the retirement years progress and their nest eggs get depleted.