How are the Boomer-Seniors Impacting Your Practice?

The census studies show that millions of Baby Boomers, those born between 1946-1964, become “seniors” each year. As I’ve spoken to many independent advisors, you’ve explained to me how this “Boomer-Senior” presents unique challenges when you work with them.

Many of you responded to a recent survey we sent out and described to us the differences in dealing with this new-fangled senior client. Following are highlights from your responses, when we asked the question, “with the oldest Boomers now becoming Seniors, how has that had an impact on advisors’ business?”

They have more questions about how to structure their money, not to outlive it.
Jamie Imus

I am finding the majority did not plan well for retirement and those that did not have less money.
Jolene Honkomp

You have to hold their hand more and become more of a trusted advisor than anything else. This is when the trust factor really shows.
George Philhower III

It has created a market with more customers and very diverse needs.
Joseph Kolakowski