“Not only are these plans easy to implement and support, but they also give small employers the ability to offer valuable tools that help prepare their employees for a more secure retirement,” she said in the email.
Financial Advisor asked Morales what retirement products and solutions would most benefit employees who decide to retire later in life, rather than the tradition retirement age of 65.
“It really depends on the specifics of their situation,” she said. “In some cases, even in retirement, it is not a bad idea to leave money in their former employer’s plan. Many plans benefit from institutional pricing and very low-cost fund options. It is also important to consider their risk profile as they get older. Annuities, for example, can help provide a return on investment with little or no potential for loss.”
Asked if there was a particular retirement product that was a hard sell, Morales said that retirement and financial products are generally not easy for most people to understand, particularly those with many options available within the products themselves.
“Planning for retirement is not something people do every day, so they want to make sure their choices are sound and make sense for them,” she said in the email. “For this reason, many people find that working with a financial advisor is helpful.”
Morales said that in her new role, she will focus on digital, data, security, and service.
“The currency of the future lies in all these areas,” she said. “People live on their phones and want to be able to acquire products digitally, when they want them, but still be able to speak to a friendly, knowledgeable person when needed, and feel confident they are protected throughout that experience. My teams will focus on making sure all this and more takes place as we scale our business for the future. No one has a better job than me!”
Founded in 1892, Security Benefit Corporation, an Eldridge business, together with its affiliates, reported holding $46.9 billion in assets under management as of December 31, 2021.