Financial professionals with a higher percentage of clients in or nearing retirement seem to be more interested in income planning issues, according to experts who spoke at a recent National Retirement Planning Week event.

The experts talked about advisor focus on retirement income during a Web seminar organized by the Insured Retirement Institute (IRI), Washington, to support planning week outreach efforts.

Representatives from Gallant Distribution Consulting, Sherborn, Mass., and Practical Perspectives, North Andover, Mass., noted that about 70% of financial professionals have reported net increases in retirement income clinets in the past year, and that about 60% have a different philosophy for managing assets for retirement income clients than they have for wealth accumulation clients.

About 25% of advisors appear to have enough clients in or near retirement to be committed to retirement income planning, but 40% still appear to be in an early stage of moving into income planning, the representatives said, according to a summary of the presentation provided by IRI.

- Allison Bell

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