Baby Boomers Driving a New Industry Focus

RISMEDIA, Sept. 24, 2008-CheckFree, now part of Fiserv, Inc. and a leading platform provider for Separately Managed Accounts (SMAs) and Unified Managed Accounts (UMAs), released its first educational paper in a four-part series focused on helping the financial services industry meet the financial challenges that are ahead for baby boomers, the largest retiring generation the United States has ever seen. The white paper series, part of CheckFree’s continuing thought leadership program, is an in-depth look at the impact aging baby boomers are having and will continue to have on the financial industry’s product development and educational strategies and initiatives.

As a result of the $33 trillion in assets accumulated to date by boomers, the impending wave of retirements is driving a historic shift from asset accumulation to wealth preservation and income generation. General consensus is that to ensure a sufficient income replacement rate, or the percentage of pre-retirement income needed to finance a desired level of consumption in retirement, individuals will need a replacement rate of at least 70% of employment income in retirement. Financial advisors and asset managers realize that they need to offer their clients new products and services to provide a comfortable retirement income, while also allowing them to pass on their assets to their families.

The first paper, “Baby Boomers Driving a New Industry Focus: Moving from Accumulation to Asset Preservation and Income Generation,” explores the need to address a holistic approach to managing a client’s portfolio, which includes evaluating each retiree’s unique needs whether it be insufficient accumulated wealth, appropriate liquidity, insurance needs and/or education.

“The Baby Boomer generation makes up a large percentage of the portfolios our clients manage. This white paper series identifies and discusses potential obstacles the financial services industry may face as 78 million baby boomers approach and enter retirement,” said Cheryl Nash, senior vice president of strategic marketing and business development for CheckFree Investment Services, now part of Fiserv. “There is a large opportunity Fiserv Lending for advisors and wealth managers to meet the growing needs of this generation. With the help of technology, financial advisors and asset managers can be better poised to manage the retirement needs of the large population of boomers who are entering their retirement. ”

The CheckFree “Retirement Series” is a four-part series that will include the following White Papers:

• Baby Boomers Driving a New Industry Focus
• Unified Managed Account (UMA) for Retirement
• Mutual Fund Advisory (MFA) for Retirement
• Wealth Management Advisory Services

For more information, visit www.checkfree-cis.com.