The article goes on to explain why financial advisors should take a closer look at offering their services to boomers. This apparent tide change is due to numbers released by the Federal Reserve Bank, federalreserve.gov, indicating an increase in income and net worth among older boomers, 55-64. The "viability" of younger boomers as clients is bandied about as well as the realization that older boomers can afford products such as annuities, mutual funds, long term care insurance, life insurance etc.
It appears to me the smell of more money attracts those advisors that were previously turning their collective noses up towards boomers. I find that sad and unfortunately a common occurrence within the financial industry. Although a large part of financial advisors are only chasing people with large investable assets other companies are focusing on boomer needs. There are entire insurance and investment companies now being built around the baby boomers and the billions of dollars they collectively hold. The topic of many financial advisors going after only big accounts and big premium dollars while millions of families are left in the lurch is unfortunately nothing new. I will address this topic going into the future as I feel strongly about equal access to financial/insurance advice and services. The baby boomers are another subject that I will focus on as theur unique and specific situation is pushed more and more into our national psyche.
I am curious to know if agents reading this blog are incorporating baby boomers into their practice or not?
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