A recent study revealed differences in who seeks advice from plan sponsors in defined contribution plans.
How many calls: Ten years of Australian superannuation call data were grouped by frequency and examined by demographic.
Who calls: Analysis of calling behavior groups found gender factors (women more than men), age factors (older more than younger) and account size factors (larger more than smaller) can serve as predictors of who seeks plan sponsor advice among DC plan members.
Source: “The Demand For Advice in Defined Contribution Pension Plans: Age, Gender, and the Size-of-Bet Effect,” Gordon L. Clark, Maurizio Fiaschetti and Paul Gerrans
Compiled and designed by Timothy Pollard and Gregg A. Runburg