Wachovia Offering Phone Consultations on Retirement
September 14, 2008
Starting this month, Wachovia Retirement Services will offer free retirement consultation services by phone to any of the employees of the 6,400 companies for which Wachovia is the 401(k) provider.
“We must get Americans to focus on their retirement and to think proactively about how much income they are on track to generate in their retirement years,” said Joe Ready, executive vice president and head of Wachovia Retirement Services. “As numerous studies have shown, inertia or the plan’s complexity result in a lack of action, which results in participants not reaching their required savings level.”
Wachovia has been making a push in the retirement market this year. John Papadopulos was named president of Wachovia’s Retirement and Investment Group in May and was given a mandate “to advance our efforts further into consumer and institutional markets so that Wachovia will ultimately be the retirement provider of choice,” according to John Carroll, head of the firm’s Capital Management Group.
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