More than 40 financial services industry leaders, representing major banks, wirehouses, fund companies and broker/dealers, recently attended a retirement income symposium, hosted by Genworth Financial (NYSE: GNW – News) in Washington, DC. The two-day event focused on the changing marketplace for retirement income, including demographics and mindsets of those reaching retirement age in the next 25 years, and emphasized political activities and regulatory issues impacting retirement security. « We are overwhelmed by the positive response we got from attendees who thanked us for giving them access to people and information they’ve not been exposed to, » says Pam Schutz, president and CEO of Genworth Retirement Income and Investments. « There was a great deal of discussion around the changing perceptions of retirement and how Boomers are going to create a whole new vision of retirement, one that’s more active by choice and lasts longer than ever before. What we heard from researchers, lobbyists, regulators, sociologists and political veterans reinforces the critical need for guaranteed retirement income. We have to help people move from a mindset focused solely on ‘accumulation’ to an approach that focuses on taking what they’ve accumulated through saving and investing and converting it to income for life. » Featured speakers at
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