As banking and other financial institutions follow the trend of automated services, consumers become further removed from personal interactions with their financial team. According to an Allianz study that took place between 2006 and 2013, the percentage of respondents who reported wanting more financial education rose from 35 to 65 percent. Additionally, two-thirds of respondents said they have unmet educational needs, but 68 percent avoid financial literacy programs because they felt the materials were inaccessible.
The takeaway from this study: As the need for financial literacy rises for our next generation of account holders, educational materials need to be engaging and accessible. So how can financial institutions address this issue?
New Direction IRA employs an education-based business model that is geared toward empowering account holders to make confident, knowledgeable decisions about their retirement investments. Utilizing a variety of outlets including webinars, blogs, articles, continuing education classes, and educational materials, New Direction is able to cater to a myriad of educational levels and needs.
For investors who need an introductory crash-course to self-directed IRA investing, New Direction has a general “Foundation of Self-Directed IRAs” webinar, along with asset-specific introductory webinars such as “Introduction to Private Equity IRA Investing.” For investors who are interested in learning more about how to break into new asset markets, New Direction has an investing guide for five different popular assets, including precious metals and real estate.
Investors who already possess some knowledge about self-directed IRA investing can benefit from New Direction’s more comprehensive webinars
and educational materials
such as “Avoid Probate with an Inherited IRA” provide current and future account holders with more in-depth and account-specific information. The same can be said for more comprehensive webinars such as “Creative Account Strategies” and “Build Wealth Through Health with an HSA.”
New Direction also hosted its first Retirement Fast-Track Summit
this October, which gave attendees a complete run-down of self-directed IRA investing. This fast and focused course allowed participants to master self-directed IRA investing before noon. Additionally, New Direction’s Business Development team is a department of experts whose main purpose is to provide front-end education for future and current clients. This team can be called, emailed, or met with personally five days a week.
To fully address the educational needs of the next generation of investors, financial businesses need to employ educational outlets that are accessible and engaging to young investors. New Direction’s combination of blogs, articles, investing guides, webinars, continuing education classes, and a dedicated team of experts sets current and future clients up for success. Empowerment through education allows NDIRA clients to make knowledgeable, educated decisions about the future of their retirement savings.