What are your firm's retiree clients saying about your services? Wouldn't it be great if all retirees were as happy with the advice their firms are providing on how to invest during retirement? Unfortunately, this is not the case. In FRC's recent study of the financial habits of today's retirees, Converting Retirement Income Planning into Practice, only 2% of retirees had much positive feedback to share. This white paper presents the analysis of the recommendations that today's retirees would like to make to financial services firms.

There are four sections:

•Gaps and requests-Many illuminate the gaps that today's retirees are perceiving and experiencing-in their own language, unfettered by our jargon and expectations.

•Insights by segment-Retirement is big, and getting bigger. Many firms are unsure how to focus and gain traction with a manageable piece of the market. In line with FRC's ongoing efforts to help our retirement clients refine their segmentation and targeting strategies, we reveal the wishes of different retiree segments.

•Impact of channel-A major finding in Converting Retirement Income into Practice is that product allocations are influenced by the primary channel that a retiree uses as much as they are influenced by the retiree's wealth segment. For example, a retiree who primarily uses a bank is more likely to hold cash or cash equivalents and to leave money in an employer-sponsored plan than a retiree from the same wealth segment, who primarily uses an independent broker/dealer. The impact of channel is no less pronounced among the verbatim comments.

•Analysis: The Limits of Intuition-While many findings are intuitive, others are not. Which types of retirees are most concerned about ethics? Which are requesting more sophistication in retirement income planning? Formulate your own hypotheses as you read along, and we'll reveal the answers at the end.