Ameriprise Study Reveals Widowed Americans' Financial Confidence Amid Gaps in Advisory Support — Ameriprise Financial, Inc.

Event summary

89% of widowed Americans feel financially confident, yet 58% wish they had a trusted financial sounding board.
84% of widowed adults expect to remain financially independent long-term, with 88% preferring separate finances in future relationships.
44% of widowed adults lack a current financial power of attorney, 43% lack a formal will, and 39% lack a healthcare directive.
62% of widowed adults work with a financial advisor, with 74% of those reporting increased financial security.
Research based on a survey of 3,003 financially solo U.S. adults with an average of $700,000 in investable assets.

The big picture

Ameriprise's research highlights a strategic opportunity in the wealth management sector, particularly among the aging population. With a significant portion of widowed adults lacking critical estate planning documents and expressing a need for financial guidance, the firm is well-positioned to expand its advisory services. The study underscores the growing importance of personalized financial planning in an era where individuals are increasingly managing finances independently.

What we're watching

Advisory Demand: How Ameriprise can capitalize on the unmet demand for trusted financial advisors among widowed adults.
Estate Planning: Whether the gaps in estate planning documents will drive increased adoption of Ameriprise's advisory services.
Long-term Independence: The pace at which widowed adults will seek professional financial guidance to maintain financial independence.