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Warren Cormier

Cormier

Warren is the author of the "Inside the Plan Participant's Mind" column for NAPA Net the Magazine.

Warren Cormier founded and serves as the President of Boston Research Group. Mr. Cormier has more than 25 years of quantitative and qualitative experience in financial services research for investment companies (both retail and institutional clients), banks, and insurance companies with particular focus on retirement assets. Warren also partners with NAPA on the NAPA Research Institute, which features cutting-edge research findings for the DC community. In 2007, Mr. Cormier Co-founded the Behavioral Finance Forum with a mission to foster collaboration between the world's leading behavioral finance academics and financial institutions to help consumers make better financial decisions. He serves as Director of Research for both Shawmut Corporation and Bank of Boston and was a partner at Temple, Barker & Sloane. Mr. Cormier is recognized as a market research leader in the Defined Contribution industry and in 2006 was voted one of the Top 20 Most Influential People in the Defined Contribution Industry. Mr. Cormier is also the creator of the DCP 2000- 2008 plan sponsor satisfaction and market dynamics studies.

By Warren Cormier4/6/2015 • 0 Comments

Solving the leakage problem requires a clear understanding of why people cash out their balanced, including what they do with the money. (Spring 2015)

By Warren Cormier12/14/2014 • 0 Comments

Too much friction is creating opportunities for DC assets to leak out of the DC retirement system. (Winter 2014)

By Warren Cormier10/11/2014 • 0 Comments

Research reveals the five drivers of trust in the DC plan marketplace. (Fall 2014)

By Warren Cormier7/11/2014 • 0 Comments

Exploring the true meaning of rationality and irrationality, and their application to participants’ decisions. (Summer 2014)

By Warren Cormier5/11/2014 • 0 Comments

As change agents, advisors need to show participants the impact of their past decisions by giving them regular and unambiguous feedback on how they are doing so they can incorporate that into their sense of confidence. (Spring 2014)

By Warren Cormier4/11/2014 • 0 Comments

In a white paper published by Arnerich Massena, Inc. in March 2014, the authors review a variety of research studies that look at the investment returns of DC participants’ accounts compared with the returns of index funds, market returns, committee- or trustee-directed defined benefit accounts and asset allocation accounts.

By Warren Cormier2/22/2014 • 0 Comments

In a recent article in Forbes, Dr. Jeffrey Brown addresses an important point about the focus of 401(k) plans being ultimately on spending capacity throughout retirement.

By Warren Cormier1/15/2014 • 0 Comments

Every day we find new factors that are affecting participants’ decisions regarding their retirement confidence, savings behavior and worklife. A common theme is that perception is more important than reality. Behavioral economists frequently talk of effects of “framing,” “anchoring” and “subjective self-perceptions” on decision-making and behavior.

By Warren Cormier12/23/2013 • 3 Comments

I recently had the opportunity to speak with Ted Benna, the co-creator of the 401(k), to get his perspective on the future of DC plans and how participants can maximize their retirement readiness.

By Warren Cormier12/11/2013 • 0 Comments

When it comes to how plan sponsors and participants view participants’ customer experience,” there are far more differences than similarities. (Winter 2013)

By Warren Cormier12/6/2013 • 2 Comments

In its 2013 annual report on advisors’ satisfaction and loyalty with record keepers, DCP and Boston Research Group identified specific behaviors by the wholesaler that are the most effective in keeping the advisor happy and coming back. Here are the top three.

By Warren Cormier9/11/2013 • 0 Comments

Research on participants’ retirement engagement has uncovered the appealing connection between a high quality, appreciated DC plan and a higher operating margin for the firm. Here are three action steps to boost the perceived value of a 401(k) plan. (Fall 2013)

By Warren Cormier8/14/2013 • 0 Comments

Despite plan sponsors’ apparent sense of responsibility, there is a steady and increasing stream of studies concluding that employees are not prepared to retire. So what can be done? And just as importantly, what role can advisors, who are a major force in the industry, play in the retirement readiness solution?

By Warren Cormier8/5/2013 • 1 Comments

In the 2013 edition of the DCP Online Survey of 7,000 active DC participants, published in June, we focused on the behavior and attitudes of Job Changers — defined as active participants in DC plans who changed a full-time job in the past three years.

By Warren Cormier7/2/2013 • 0 Comments

The Number 1 driver of overall satisfaction is the provider’s ability to demonstrate that the value they deliver is well worth the fees and other costs. But how does a provider demonstrate value? In the second part of a two-part discussion, Warren Cormier of Boston Research Group looks at the role of service excellence.

By Warren Cormier7/1/2013 • 1 Comments

Since 2000, the Boston Research Group’s DCP studies have been measuring plan sponsors’ loyalty and satisfaction with their record keepers and advisors (i.e., providers). The Number 1 driver of overall satisfaction is the provider’s ability to demonstrate that the value they deliver is well worth the fees and other costs. Importantly, loyalty is also highly correlated with value. But how does a provider demonstrate value?

By Warren Cormier6/13/2013 • 0 Comments

The question in the headline arises from a hypothesis that people who work for not-for-profit organizations are more mission-driven and more sensitive to organizational values, and less concerned about compensation for the work they do. In the 2013 Annual DCP Participant Study conducted by Boston Research Group, the question about the differences and similarities between 401(k) and 403(b) participants was addressed.

By Warren Cormier6/6/2013 • 0 Comments

Speaking with plan sponsors and record keepers across the DC industry, one would conclude that the much-anticipated fee disclosure to participants was a non-event. Some likened it to the Y2K of the DC industry. The just-completed Boston Research Group annual national survey of 7,000 active DC participants looked into participants’ awareness and reaction to fee disclosure in great detail.