Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Your New Competitor: AARP? Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 28, 2005

Your New Competitor: AARP?

by: Theresa Sim

It's no secret that asset managers and financial services firms are scrambling to capture the Baby Boomer crowd. But now a distribution partner is muscling into the game. According to a New York Times article, AARP's for-profit product sales arm, AARP Services, has formed AARP Financial -- its own subsidiary that will create financial products for members.

In store for next year include an investment fund designed for people older than 50 years, guns for hire to help companies develop products for Boomers, and a for-free "seal of approval" for AARP endorsed products.

AARP spokeswoman Valentina Dingle was not immediately available for comment.

"We're finally being proactive, instead of waiting for companies to come to us with ideas," Dawn Sweeney, president of AARP Services, told the New York Times.

AARP currently offers a mutual fund investment program through Scudder Investments. Morningstar recently reported that the organization hired SSgA to advise a suite of retirement funds.

AARP already counts 35 million members, and it's working to appeal to a broader audience, including the younger-older set and non-whites. According to the Times, AARP Magazine comes in age-appropriate versions -- one for pre-retirees, and one for the older set.

The organization is also targeting minorities to expand its membership -- AARP is currently going after blacks and Hispanics, and has plans to seek out Indians.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2023
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use