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Senior Retirement Tips :: Hartford Retire
Hartford Retire: A Review of The Hartford Financial Services For Those About to Retire
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The Hartford Retire division is part of Hartford Financial Services, a company that has been providing financial consultation, investment services and insurance since 1810. They currently manage close to 25,000 employee plans, but also provide small-scale personalized services for individual customers.
So, how do they measure up? Do they produce investment results? What's their customer service like? Do they offer a full range of services or are they simply limited to retirement savings advice? To learn the answers to these questions and more, keep reading for a full review of the Hartford Retire program.
Tools and Services
The Hartford financial website offers customers several free tools to help them calculate how much they need to save to achieve their retirement goals.
Unfortunately, these tools are drastically over-simplified and don't consider diminishing expenses (e.g.: not having to pay for children's tuition, reduced or completed mortgage payments or reduced business expense).
It also doesn't take into consideration rising health costs, the increased inflation rate for health services, or potential travel plans or retirement indulgences, like buying property or taking an annual cruise.
So, while their retirement planning calculator is easy to use and understand, it's simply not comprehensive enough to provide an accurate or worthwhile picture of your retirement needs. Customers are recommended to sit down with and speak to a Hartford representative face to face.
Customer Service
The Hartford was recently voted (2008) one of the world's Most Ethical Companies by the Ethisphere Institute. This award is a clear reflection of the firm's commitment to accountability and ethical services to both its employees and its clients.
One major drawback is that most retirement plans sales are down over the phone – meaning employees and clients must deal with a phone operator and complicated phone system to get help or advice. To improve their customer service, Hartford should offer more one-on-one and face-to-face service opportunities.
Hartford Performance Levels
Hartford advertises its financial strength ratings. Moody's gives the firm an Aa3 (excellent and 4th highest rating), Fitch gives the company an AA rating (very strong and the 3rd highest rating), Standard & Poor's rates Hartford as a AA- (very strong and the 4th highest rating), and A.M. Best awarded the company with an A+ rating (superior and the 2nd highest rating.)
Hartford Retire have also been awarded five DALBAR Retirement Plan Service Awards (2003-2007) and though their ability to keep records and serve customers is not a reflection of their investment returns, it is a strong reflection of their ability to provide customers with outstanding service and accountability.
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SeniorRetireTips.com :: Hartford Retire