$1 Billion Startup Flips Retirement Industry On Its Head

With over 110 million Americans over age 50, it’s no wonder this Princeton alum’s $1 billion startup is helping people plan for a comfortable retirement.

Are you aware that you could boost your retirement outlook by using this new startup's no-cost service? 

SmartAsset’s free, five-minute tool makes it easy to find qualified financial advisors in your area or who serve your area. Its exclusive tool matches you with up to three fiduciary financial advisors who have passed a rigorous vetting process.

Unlike broker-dealers, stockbrokers and insurance agents, fiduciary advisors are legally bound to work in your best financial interest.

Advisors are rigorously screened through its proprietary due diligence process.

Why Meet With a Financial Advisor?

It’s more important now than ever to review your retirement plan with an unbiased, fiduciary financial advisor. Here’s why: Economic growth won't approach "normal" until as late as 2025, according to Bank of America’s Chief Investment Officer. This could mean your current financial plan might leave you without enough money to last your retirement.

Additionally, emotionally-charged decisions to sell off large quantities of stocks or other investments now lock in your losses, removing any chance for future growth. Research suggests people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.¹

Consider this example: A recent Vanguard study found that, on average, a $500K investment would grow to over $3.4 million under the care of an advisor over 25 years, whereas the expected value from self-management would be $1.69 million, or 50% less. In other words, an advisor-managed portfolio would average 8% annualized growth over a 25-year period, compared to 5% from a self-managed portfolio.²

A 2020 Northwestern Mutual study found that 71% of U.S. adults admit their financial planning needs improvement. However, only 29% of Americans work with a financial advisor.³

Before this groundbreaking, easy-to-use tool, there was no simple way to quickly compare financial advisors. Hundreds of thousands of smart investors and retirees have already used SmartAsset’s simple, no-cost service to compare their financial advisor matches.

SmartAsset works with a robust network of financial advisors all across the U.S., including individual advisors and large investment firms to cater to anyone's financial situation. CEO Michael Carvin says he expects the number of advisors to grow into the tens of thousands soon.

How to Compare Financial Advisors at No Cost to You

Chances are, there are several highly qualified financial advisors in your town. However, it can seem daunting to choose one. Its no-cost tool makes it easy to find a reliable, reputable advisor so you can make an informed decision and choose the right one for you. Now you can get matched with up to three local fiduciary investment advisors that are vetted and subject to its due diligence criteria. The entire matching process takes just a few minutes.

Sources:

¹Journal of Retirement Study

²Vanguard (2019), Putting a Value on Your Value

³Northwestern Mutual study

Image sourced from Pixabay

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content was purely for informational purposes only and not intended to be investing advice.