Not So Bad

That doesn’t mean you can talk to them the same way you spoke to their parents or to the members of the generations X and Y. Or that retirement won’t be seriously reformulated within the next few decades. You can play a central role in that reformulation for your clients and set a good example for the rest of the country, if you get the training you need, and add the structures to your practice that will allow you to offer those services efficiently and profitably. There are a number of stories in this month’s magazine to get you started.

First is the cover story by Washington Bureau Chief Melanie Waddell, who walks you through the top retirement issues that are being hashed out right now in Washington and in your hometown. Unlike last year when complying with the multiple provisions of the Pension Protection Act was your primary retirement planning challenge, this year there are many separate, if interrelated knots to untangle. Second, Maya Ivanova shares the findings of the recent supplemental poll of Rydex AdvisorBenchmarking which focused on advisors offering, or failing to offer, financial gerontology services. Third, Olivia Mellan hits a home run with her comprehensive exploration of how to talk to boomers about retirement. She quotes experts who point out that the rules changed mid-game for boomers when it comes to retirement planning, and that the advisor can play a key role in helping clients figure out the work-play-relaxation nexus in the third age of their lives. Finally, a fourth feature story this month, written by the investment banker Nimi Natan whom I introduced in this space last month, provides a roadmap advisors can follow when a client sells his business. Your core competence may be in investing or business development or planning, but that doesn’t mean you can neglect the satellite offerings that your boomer clients, and their younger cousins, will want someone to provide now and in the future.