Of Boomers, Annuities and Advisors

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).

90.2%

Said they work with boomer clients

94.1%

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.”