LTSave Value Proposition
The US retirement industry is at an inflection point. As the first cohort of 77 million boomers commenced approaching age 60, starting in 2006, they were confronted with a changed world. Responsibilities for saving, managing, and planning for their retirement have increasingly shifted to them, commencing with the onset of the defined contribution pension plan in the late ‘80s. Employers nationwide as well as the federal and state governments and local municipalities are continuing to shift greater responsibility to the individual. There is a convergence of this trend in the health care sector with the advent of health savings accounts (HSA’s).
Improvements in healthcare have raised longevity, and individuals are faced with planning for increasingly long time horizons and uncertain financial markets.
Equally, the Gen X and Gen Y generations are confronted with uncertainty regarding the availability of social security and large looming deficits in Federal medical programs.
The US retirement industry is regulated by ERISA and the Department of Labor. Investment advisory firms are also regulated by the SEC, and state regulatory organizations. NASD regulations are also often applicable creating a complex regulatory environment for most firms to work within.
Enterprises including employers, banks and bank platforms, insurance firms and other financial institutions, and membership organizations are grappling with how best to service their constituents, whether employees, consumers, or members, and grow their retirement lines of business. LTSave is an SEC-registered investment adviser, and offers a completely out-sourced platform to these enterprises to provide investment management and retirement planning services.