A new survey from OppenheimerFunds finds that advisors are concerned about helping boomers prepare for retirement, but also worry about client retention. Among the key findings of "Boomers: Market Boom or Bust":
- 75 percent of respondents say that the large number of retiring boomers will have a significant adverse reaction on the markets over the next five to 10 years.
- 80 percent believe that retiree assets will head toward insurance and fixedincome products.
- 75 percent are concerned about the impact that retiring clients will have on their books of business.
- 80 percent say that retirement planning software and education tools would better assist boomers in planning for decumulation, while only 29 percent say innovative products would satisfy the decumulation need.
- 60 percent begin discussing shifts from accumulation to decumulation five or more years before retirement, but 40 percent of advisors still wait until two years before retirement.
- 77 percent of advisors believe boomers are the best demographic to target in the next year and 71 percentbelieve boomers are the best demographic to target over the next five years, compared with 5 percent and 8 percent for Generation X, respectively.
For more information, visit www.oppenheimerfunds.com.