NU Online News Service, Aug. 14, 3:59 p.m. – High-income professionals might be more interested in buying life insurance and annuities from banks than they used to be, according to a survey sponsored by Nationwide Financial Services Inc., Columbus, Ohio.
When researchers with Greenwald & Associates, Washington, interviewed 500 U.S. residents under age 60 with annual household incomes of at least $150,000 earlier this year, they found that 18% reported using their banks for help with financial planning, up from 7% a year ago.
The percentage of respondents saying they were unwilling to take substantial financial risk for substantial gain increased to 61%, from 51%.
