Ameriprise 2005 Annual Report Download - page 13

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Our Advisor Network
With more than 12,000 financial advisors and registered representatives throughout the United States,
clients can meet face-to-face with one of our advisors virtually anywhere in the country. Our advisor
network includes three levels of advisor affiliation. Approximately 3,200 advisors choose to affiliate
as employees, 7,400 operate through a franchise agreement, and more than 1,700 operate as
non-branded advisors and registered representatives under our Securities America, Inc. broker-dealer.
We provide each advisor affiliation group with a range of options to meet their needs. Our employee
advisors receive a full support model. Franchise advisors operate as independent contractors,
which provides them with a more entrepreneurial arrangement. Along with our employee advisors,
we provide franchisees with access to capabilities that help them serve clients more effectively and
To help understand how people can best achieve a satisfying retirement, in 2005, Ameriprise
Financial conducted extensive research on emotional and lifestyle concerns and how they
interact with financial preparedness in retirement planning. In conjunction with Age Wave
and its CEO, Dr. Ken Dychtwald, a leading authority on baby boomers, and Harris Interactive,
a prominent research firm, we polled more than 2,000 40- to 75-year-olds to explore their
attitudes toward retirement. The study found that retirement is not a single event, but rather
a series of stages through which people migrate. The study found that the key to retirement
happiness is not money alone. A sense of purpose and the ability to live one’s dreams are the
true marks of a retirement well-lived.
The five emotional stages identified by the study begin with the Imagination Stage, 15 to
six years before actual retirement. People start to prepare mentally by dreaming optimistically
about how they will spend their retirement. The second stage is Anticipation, typically the
five years leading up to retirement. Excitement about retirement ambitions runs high, but
worry begins to increase during this stage. The Liberation Stage begins at “Retirement Day”
and continues through that year. Optimism, relief and hopefulness dominate this stage.
After this “honeymoon” comes the Reorientation Stage, one to 15 years after retirement.
The study revealed an increase in people expressing feelings of emptiness and having difficulties
adjusting. It also identified a portion of this group who expressed a new sense of self, a group
we’ve named “Empowered Reinventors.” These people are continually learning and doing
work or activities they enjoy. Notably, Empowered Reinventors actively planned financially
for retirement and also envisioned what they would do to stay active. The last stage —
Reconciliation — occurs 16 years or more after retirement and is marked by increased
contentment, acceptance and personal reflection.
Survey results clearly indicate that vision and planning are as important as money in achieving
retirement fulfillment. Additionally, the study found that those who worked with a financial
advisor were more than twice as likely to feel “very prepared” financially for retirement. Using
this knowledge, our financial advisors help clients implement their financial plans and help
them pursue their dreams with confidence.
New Retirement Mindscape
The Five Emotional Stages of Retirement
Ameriprise Financial, Inc. | 11
Retirement Day
Number of Years
-15 -5 0 1 15
1.
Imagination 2.
Anticipation
3.
Liberation
4.
Reorientation
5.
Reconciliation
1.
Imagination