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Industry Landscape
The U.S. financial planning industry is robust, driven by an aging population nearing retirement and increasing financial complexity. Specialized niches like public employee retirement planning are thriving due to unique benefit structures. Technology integration, personalized advice, and a focus on holistic financial well-being are key trends. Regulatory changes and economic shifts continually influence the landscape, emphasizing the need for adaptable and expert guidance.
Total Assets Under Management (AUM)
Assets Under Management (AUM) in Financial Planning in United States
~Specific AUM for public employee retirement planning is not readily available. However, the broader U.S. financial planning AUM reached approximately $30 trillion in 2023.
(8-10% CAGR)
- Growth fueled by demographic shifts (retiring Baby Boomers).
- Increased demand for personalized financial advice.
- Expansion of digital tools and platforms for financial planning.
Total Addressable Market
100-150 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Financial Planning
AI and machine learning can analyze vast financial data to provide hyper-personalized advice, automate portfolio management, and predict market trends, enhancing efficiency and accuracy in financial planning.
Blockchain for Record Keeping
Distributed Ledger Technology (DLT) can secure and streamline the management of financial records, contracts, and transactions, potentially increasing transparency and reducing fraud in pension and investment accounts.
Gamified Financial Education
Interactive and engaging digital platforms can simplify complex financial concepts, particularly for younger public employees, improving financial literacy and participation in retirement planning.
Impactful Policy Frameworks
SECURE 2.0 Act of 2022
The SECURE 2.0 Act of 2022 aims to enhance retirement savings by expanding automatic enrollment in 401(k) and 403(b) plans, increasing catch-up contribution limits, and allowing rollovers from 529 plans to Roth IRAs, among other provisions.
This act creates opportunities for Appreciation Financial to advise public employees on new contribution strategies and increased savings options within their 403(b) plans, potentially expanding their service offerings.
Department of Labor's Fiduciary Rule (Re-proposal or Recent Guidance)
While a specific new DOL Fiduciary Rule is frequently discussed but not always finalized, ongoing discussions and guidance from the DOL emphasize a fiduciary standard for investment advice, requiring advisors to act in the best interest of clients regarding retirement savings.
Increased emphasis on a fiduciary standard requires Appreciation Financial to ensure their advice consistently prioritizes the best interests of public employees, reinforcing trust and potentially requiring adjustments to their advisory practices.
State-Specific Pension Reforms (Ongoing)
Many states are continually reforming their public employee pension systems, often adjusting contribution rates, benefit formulas, and eligibility requirements to address funding shortfalls or adapt to changing economic conditions.
These ongoing state-level reforms necessitate that Appreciation Financial's advisors remain highly informed about specific state pension nuances, allowing them to provide accurate and up-to-date guidance to teachers and public employees in each serviced state.
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