Many middle-income Americans could be without adequate plans for retirement due to the tendency of the financial-services industry to cater to wealthy Americans, suggests a study conducted by the Bankers Life and Casualty Co.'s Center for a Secure Retirement.

The center's Middle-Income Retirement Preparedness Study, which focused on pre-retirees and retirees with annual incomes between $25,000 and $75,000, found that half (51 percent) hadn't been contacted by any kind of retirement professional in the previous 12 months.

Further, 84 percent of the study participants who do work with a retirement professional said that they were the ones who had to initiate contact with the adviser.

"Most pre-retirees and retirees, regardless of income level, are concerned over whether or not they've planned adequately and saved enough to live comfortably in retirement," says Scott Perry, president of Bankers Life & Casualty Co., the national life and health insurer. "This concern is especially critical to middle-income Americans, more so than affluent retirees, because inadequate planning puts them at risk for not being able to maintain their standard of living during retirement."

Minimal outreach on the industry's part can hurt those who might benefit otherwise from a professional adviser's services, Perry says.

These individuals lose out on the benefits of learning about new products and services and having an objective third party to review and identify gaps in their retirement plans, he says.

The financial-services industry's lack of outreach shouldn't stop middle-income Americans from engaging the services of a professional adviser; the study results show that finding an adviser can be well worth the effort.

Two in three (68 percent) middle-income Americans who work with a professional feel better prepared for retirement than their peers, and 76 percent says they were extremely or very satisfied with their retirement professional.

The CSR says that retirement professionals aren't just portfolio managers for the wealthiest retirees. Many products and services exist for people with lower levels of income and few assets.

The Bankers Life & Casualty Co.'s Middle-Income Retirement Preparedness Study was conducted in August of 2010 by the independent research firm The Blackstone Group.

The complete report may be viewed at www.CenterForASecureRetirement.com.

The Bankers Life & Casualty Co.'s Center for a Secure Retirement is the company's research and consumer education program.

Its studies and consumer-awareness campaigns provide information on how Americans can achieve financial security during retirement.