Warning — your retirement income expertise is needed. According to research from BlackRock, 70 percent of retirement-age clients would be willing to move their accounts to another firm if it offered expertise on how to avoid outliving their assets, Reuters reports. Frank Porcelli, a senior executive at BlackRock, pointed out that advisors would have to help clients manage spending expectations as well as investment performance.
"The questions won't be, 'How did I do against the S&P 500?'" he told the news agency. "It's, 'Can I meet these liabilities?'"
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