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Financial Planning > Behavioral Finance

Survey: Boomers Like Their Advisors

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Members of the “Silent Generation” and older baby boomers have started to shift their attention toward retirement income planning.[@@]

The life unit at Hartford Financial Services Group Inc., Hartford, has published figures supporting that conclusion in a report on a survey of 500 U.S. residents ages 50 to 65.

About a third of the participants said the most important role of their financial advisors is to make sure that clients don’t outlive their money. Less than a quarter ranked putting together a balanced portfolio and choosing good investments as their advisors’ most roles.

Researchers found that 45% of participants report being more interested today than ever in estate planning, and 37% of the participants said they want help with planning for future health care costs.

About 60% of the participants said their relationships with their advisors were at least as strong as their relationships with their doctors or clergy, about 70% said having advisors made them feel more optimistic about the future, and about 80% said their financial advisors increase their peace of mind about their finances.


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