Operator: Good afternoon. Thank you for attending today’s Finance Of America First Quarter 2023 Earnings Call. My name is Frances, and I will be your moderator today.
SECURE Act 2.0 aims to improve American’s financial security
At Nationwide, we have historically served as an advocate for the retirement security of American workers and investors. We remain committed to supporting efforts to improve the existing retirement savings system through regulatory changes that help more people achieve secure retirement outcomes.
For financial professionals and advisors, that task has become more difficult due to the COVID-19 pandemic. Over the last 12 months, many Americans experienced a drop in their financial security. In a recent Nationwide Retirement Institute® survey of 500 advisors and financial professionals, 77% said their clients had either stopped or slowed their retirement plan contributions due to COVID-19. Half of those we surveyed said their clients’ financial security had been negatively impacted by COVID-19.