Beginning yesterday in Washington, D.C., advisors from Ameriprise Financial, formerly known as American Express Financial Advisors, will meet with the chief economist and market strategist from Ameriprise, as well as Senator Gordon Smith (R-OR), to address important trends and issues facing current and future retirees, including how retiring baby boomers might impact the U.S. markets.
The meetings are being held as part of the Ameriprise Financial Retirement Symposium, a two-day conference attended by about 150 financial advisors.
Senator Smith is the co-author of the Retirement Savings and Security Act of 2005, along with Senator Kent Conrad (D-ND). The legislation is aimed at strengthening retirement security for all Americans. This comprehensive retirement legislation will further expand saving opportunities, simplify plan rules and provide incentives for lifetime payouts from retirement plans.
During the event, Ameriprise Financial Chief Economist Dan Laufenberg, will present a unique economic commentary on the effect that retiring baby boomers, the largest generation in history representing over 76 million Americans, will have on the stock market. Ameriprise Financial has a positive view, unlike the negative views of some economists who suggest that there will be a substantial selling of equities over the 18-year period during which most baby boomers will be retiring.
« Ameriprise Financial does not believe that boomers will wreck the market, » says Dan Laufenberg, chief economist for Ameriprise Financial. « By thinking globally, using our imaginations to be innovative, and determining realistic expectations for investing, we contend that the U.S. stock market will be an attractive investment alternative for the next generation of investors. »
The symposium will also feature a legislative panel including Liz Varley, vice president and director of retirement policy, Securities Industry Association, Nick Curabba, Pension Counsel, American Council of Life Insurers and Jamey Delaplane, Partner, Davis & Harman, LLP. The panel will focus on five issues at the center of the current legislative debate, including expanding coverage, managing longevity risk, managing investment risk, funding retiree health needs and securing the financial safety and efficiency of the system.
« Baby boomers face a challenge that no previous generation has faced – they can expect to live 20 to 30 years in retirement and they won’t have income from a pension plan so they will need to create their own paycheck. This is a huge challenge, » said Paula Meyer, senior vice president and general manager of mutual funds at Ameriprise Financial. « Ameriprise Financial continues to support legislation at the federal and state level that will help prepare and protect Americans before and during retirement. »
Senior Ameriprise Financial executives, representatives from the Ameriprise Financial Office of Government Affairs and other leading Ameriprise Financial retirement professionals will also present and lead workshops for advisors on retirement-related subjects.
About Ameriprise Financial
Ameriprise Financial, Inc. is one of the nation’s leading financial planning, asset management and insurance companies. Through Ameriprise Financial Services, Inc., its affiliated broker-dealer with a nationwide network of more than 10,500 financial advisors, Ameriprise Financial delivers solutions to clients through a comprehensive and personalized financial planning approach built on a long-term relationship with a knowledgeable advisor. The company specializes in meeting the retirement-related financial needs of the mass affluent. Ameriprise Retirement Services provides corporations and thousands of workers nationwide with qualified retirement plan services as well as workplace financial education programs.
For more information, visit www.ameriprise.com.
Ameriprise Financial Services, Inc., Member NASD, an Ameriprise Financial company. On or after September 30, 2005, Ameriprise Financial expects to separate from American Express Company. After separation, we will no longer be owned by American Express. Ameriprise Retirement Services is a service group of Ameriprise Financial Services, Inc. and Ameriprise Trust Company. Ameriprise Trust Company offers retirement plan related services and provides collective funds.
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Contacts
Hill & Knowlton
Jessica Schweitzer, 212-885-0388
jessica.schweitzer@hillandknowlton.com
or
Ameriprise Financial
Ann Wasik, 612-678-1592
ann.m.wasik@ampf.com
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