Are advisors missing retirees' needs in 'fragile decade'?

A recent survey from Global Atlantic Financial Group suggests a persistent disconnect between financial professionals and their clients nearing or in retirement, particularly around the need for guaranteed income and investment protection.

The 2025 Retirement Outlook Survey polled 514 financial advisors and 1,009 investors between the ages of 55 and 75, each with investable assets ranging from $250,000 to $2 million.

The findings reveal that while advisors and investors may share concerns over issues like inflation and rising healthcare costs, their priorities around retirement strategies diverge in critical ways.

Eighty-eight percent of investors said they prioritize retirement investments that provide a steady income stream, compared with just 66 percent of advisors.

A similar gap appears around the perceived value of guaranteed income outside of pensions and Social Security, which 83 percent of investors deemed important – while only 46 percent of advisors gave it similar emphasis.

“The insights from our survey reveal a clear chance for financial professionals to spend more time with their clients and understand their financial goals,” Jason Bickler, co-head of individual markets at Global Atlantic, said on Tuesday.

The survey also highlighted a broader opportunity for advisors to engage clients during the so-called “fragile decade” – the five years before and after retirement – when investment decisions may significantly influence financial outcomes. Amid current market volatility, investors are increasingly focused on risk mitigation and income stability.

Among investors surveyed, 88 percent said they prioritize stable returns in retirement, while 86 percent consider principal protection important. In contrast, just 57 percent and 52 percent of advisors, respectively, shared those views.

When it comes to limiting downside risk, 80 percent of investors said it is a key priority, compared with 55 percent of advisors.

Despite three-quarters of investors reporting that they have discussed protection strategies with their advisor, only 54 percent feel adequately protected against market downturns.

The study also found that 65 percent of investors place high importance on having a plan that provides income for life. Still, fewer than half – 46 percent – have spoken with their financial professional about annuities.

Advisors have ample opportunity to discuss guaranteed income and asset protection options with their clients, according to Global Atlantic. Among the investors it surveyed, 74 percent said they've had conversations about diversifying beyond stocks with the financial professional they work with.

And while 71 percent have not considered annuities as an alternative to stocks and bonds, 46 percent said they've spoken with their financial professional about such retirement income products.

“These survey findings underscore just how crucial it is to have real, meaningful conversations about retirement and income security, especially in today’s uncertain economy,” said Emily LeMay, co-head of individual markets at Global Atlantic.