Many people need help planning for retirement, saving, investing, and decumulating their assets, yet financial advice is often complex, potentially conflicted, and expensive. The advent of computerized financial advice offers huge promise to make accessible a more coherent approach to financial management, one that takes into account not only clients' financial assets but also human capital, home values, and retirement pensions. Robo-advisors, or automated on-line services that use computer algorithms to provide financial advice and manage customers' investment portfolios, have the potential to transform retirement systems and peoples' approach to retirement planning.
This volume offers cutting-edge research and recommendations regarding the impact of financial technology, or FinTech, to disrupt retirement planning and retirement system design.
1: How FinTech is Reshaping the Retirement Planning Process, Julie Agnew and Olivia S. Mitchell
I: Financial Technology and the Retirement Marketplace
2: The Emergence of the Robo-Advisor, John Turner, Jill E. Fisch, and Marion Laboure
3: The Transformation of Investment Advice: Digital Investment Advisers as Fiduciaries, Jennifer Klass and Eric L. Perelman
II: FinTech and Retirement Security
4: FinTech Disruption: Opportunities to Encourage Financial Responsibility, Julianne Callaway
5: Ethics, Insurance Pricing, Genetics, and Big Data, Robert Klitzman
6: Benefit Plan Cybersecurity Considerations: A Recordkeeper and Plan Perspective, Tim Rouse, David N. Levine and Allison Itami, and Ben Taylor
7: Designing for Older Adults: Barriers to a Supportive, Safe, and Healthy Retirement, Cosmin Munteanu, Benett Axtell, Hiba Rafih, Amna Liaqat, and Yomna Aly
III: New Roles and Responsibilities for Plan Sponsors and Regulators
8: The Big Spenddown: Digital Investment Advice and Decumulation, Steve Polansky, Peter Chandler, and Gary Mottola
9: Behavioral Finance, Decumulation and Robo-Advice, Tom Baker and Benedict Dellaert
10: Matching FinTech Advice to Participant Needs: Lessons and Challenges, Stephen L. Deschenes and Brett Hammond
11: The FinTech Opportunity, Thomas Philippon