Retirement Units: Management Positions Are on the Rise

The retirement services sector is hopping!

A February 2014 article at InsuranceNewsNet.com reports that managers with “expertise in selling retirement plans” have been moving steadily about, making midlevel moves within the retirement units of large life and annuity carriers.

The article also reports that hiring is up, stating that MassMutual Retirement Services planned to hire five senior managers at once earlier this year.

The reason for the uptick in hiring is because more and more U.S. residents – particularly those nearing their retirement years – are coming to understand that they’re underprepared for retirement. Coupled with, according to the article, the fact that the U.S Congress is talking about making “retirement easier and more accessible,” the need for retirement insurance pros to manage these assets within variable and fixed annuities, mutual funds, etc. is growing quickly.

There’s plenty of money to manage: the article reports that the Investment Company Institute (ICI) says that retirement assets grew to $21.9 trillion at the end of September 2013. What’s more, the total amount of retirement assets in the U.S. in 2013 was about $2 trillion more than in 2012.

MassMutual wasn’t the only firm hiring. The article reports that Lincoln Financial Distributors and Great-West Financial have also been on a recent hiring binge.

The article also states that there’s a “talent war,” one that is “fueled by large recruiting deals and high retention bonuses.”

Have you noticed an uptick in hiring in your firm’s retirement units? Have you yourself been courted by an executive recruiter for your retirement assets management expertise?

If you’re an experienced insurance professional looking for new opportunities, take a look at the current open positions available here at Insurance Relief™. If you see one that interests you, contact one of our recruiters today.