If
today’s 6-year-olds were to invest all the money they receive from the Tooth Fairy,
they could be sitting on a collective total of roughly $70 billion by the time
they reach 67, according to a new analysis from Delta Dental Plans Association.
That
equals $21,000 per child. Delta Dental’s 2015 The Original Tooth Fairy Poll
found the Tooth Fairy visited 81% of homes in the United States in 2014,
meaning that out of the current 4.1 million 6-year-olds, about 3.35 million
received money for lost teeth.
The
retirement income figure is based on a 6-year-old (the average age for first
tooth loss) receiving the national average Tooth Fairy gift of $4.36 (from
Delta Dental’s most recent survey of U.S. parents of 6- to 12-year-olds),
with 6.5% in-mouth inflation (the typical increase for Tooth Fairy gifts from
year to year) for each subsequent tooth, and a 9.6% return on investment based
on historic stock market returns (S&P 500 average) per year until they turn
67.
By
region, the retirement savings will vary in line with the average 2014 Tooth Fairy
gift:
Northeast:
$20,477 (average 2014 Tooth Fairy gift of $4.16);
Midwest:
$13,910 (average 2014 Tooth Fairy gift of $2.83);
South:
$25,362 (average 2014 Tooth Fairy gift of $5.16); and
West:
$23,004 (average 2014 Tooth Fairy gift of $4.68).
According to Delta
Dental’s The Original Tooth Fairy Poll, the average Tooth Fairy gift reached a
record high last year, up 24.6% from 2013 when the average gift was $3.50. A
recent poll of PLANSPONSOR NewsDash readers found 63% of parents said their
children receive(d) between $1.00 and $5.00 per tooth.
Nationwide has named Ben Hoecherl the
new leader of Nationwide ProAccount, the firm’s managed account service
designed to make institutional-quality investing available to retirement plan
participants. Hoecherl’s responsibilities include directing long-term strategy,
operations and sales for ProAccount.
Hoecherl served most recently as the manager of product management
and development at Advised Assets Group, focusing on the professional asset
management program offered through Empower Retirement plans. He has previous experience
in investment research and portfolio construction methodology.
Hoecherl holds a bachelor’s degree in finance and business from
the University of Utah and a master’s degree in business administration from
Regis University in Denver. He holds the Chartered Financial Analyst (CFA)
designation as well as his FINRA Series 65 license.
Nationwide reports that more than 100,000 plan participants use
the ProAccount service, totaling more than $3.6 billion in assets under
management.
NEXT: Moves at Mercer Investments
Jordan Nault has been promoted to global
leader of Mercer Investments’ hedge fund boutique.
Nault, who has been with Mercer since 2006, has experience as a
senior investment consultant and has worked with a wide variety of
institutional clients. She has served as the chair of the
target-date fund (TDF) strategic research team since 2012 and was instrumental
in developing a process to support TDF research coverage. She is also a member
of the alternatives strategic research team and defined contribution committee,
where she has been actively involved in leading Mercer’s research in liquid
alternatives.
Nault began her career at Mercer in New York and relocated to
Chicago to pursue her master’s degree. She will remain in Chicago, where she is
currently based, and report to Deb Clarke, global head of
investment research at Mercer Investments.
Nault holds a bachelor’s degree in Russian and Eastern European
studies from the University of Michigan, and a master’s degree in business
administration from the University of Chicago Booth School of Business.
Mercer also announced the appointment of Ben Thorndike as
North America alternative investments leader. He is responsible for marketing
and sales in North America for Mercer’s private equity, private debt, hedge
funds, real estate and infrastructure research, advice and delegated solutions.
Previously, Thorndike was with FOC Partners and prior to that role, he held
positions with HGGC (formerly Huntsman Gay Global Capital) and Bain Capital.
Thorndike has more than 30 years’ investment experience.
Thorndike, based in Boston, reports to Troy Saharic,
regional sales leader for Mercer Investments in North America. He holds a
bachelor’s degree from Colby College. He is a Chartered Financial Analyst (CFA)
and a Chartered Investment Counselor.
NEXT: WealthPath Joins Pensionmark Financial.
WealthPath Investment Advisors has joined Pensionmark
Financial Group. The affiliation is the first office in the Arkansas and
Oklahoma regions for Pensionmark. The partnership will provide WealthPath the
infrastructure to grow and expand its service offerings. WealthPath clients
will continue to receive personalized and unbiased retirement plan and
investment guidance. The entire WealthPath team will be joining Pensionmark,
including partners Jim Mote, Jim Edmiaston, Erik
Berry, Brent Harless and Clay Kendall, who cited the Pensionmark
culture as a good fit for WealthPath’s business model and client care focus.
The WealthPath team brings its industry experience to
Pensionmark, including advising some of the region’s premiere retirement plans
and hundreds of individual clients. WealthPath also has a 15-year track record
of managing portfolios for clients and will be bringing their proprietary
risk-based asset-allocation models to the Pensionmark network of advisers.
“The additional services and features that Pensionmark offers to
both individuals and retirement plans are exceptional, and we are excited to
begin integrating these tools into our current practice,” Edmiaston said in
a statement.