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Of Boomers, Annuities and Advisors

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Senior Market Advisor and LifeHealthPro recently conducted a survey (and it’s still available for you to add your comments) to find out how the baby boomers are impacting your practice. About 100 responded. Here are the results and your thoughts (as of April 6).


Said they work with boomer clients


Said boomers are a large or growing part of their practice

What products are your boomer clients interested in?

Top Four

  1. Life Insurance                         87.9%
  2. Fixed Annuities                       72.4%
  3. Mutual Funds                          27.6%
  4. Variable Annuities                   19.0%

What you said…

“Many boomer clients are not coasting toward retirement. Many boomers still have a lot of planning and accumulation left to do to be ready at retirement age. I’m finding success in helping boomers to put their many disjoined pieces into one plan.”

 “Overcoming the entitlement mentality of the boomers can be very difficult, but I find that connection comes from leading them to the understanding that the glory days of entitlement growth in this country are over and they need to be prepared to take care of themselves.”

“We have found that the boomer client is more technologically savvy, and we can connect with them through social media, email marketing and video messages. Their time horizons for investing allow for different types of planning. This opens the door to a larger array of products.”

 “They have not been able to save for retirement and are having to work longer. I have been able to help them move out of their 401(k) into an IRA with a fixed index annuity to give them an upfront bonus to get back some of their losses and never lose anything going forward.”

“Boomers need instant gratification and guarantees. They’ve made too many decisions based on promises. We let them know they can still have a successful retirement no matter where they are with their finances. Many have lost everything but their IRAs and 401(k)s. Put plans in place that guarantee money.”

Remember, the boomer survey is still open. Let us hear your thoughts on how you’re connecting to boomers. We look forward to hearing from you.


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