The Enduring Advisory Firm

Chapter 5 The Baby Boomers

You’ve Come a Long Way, Baby (Boomers)

Baby Boomers at a glance^*:

• Born between 1946 and 1964
• Share of adult population: 32%
• Share of non-Hispanic white population: 72%
• Political affiliation: 32% Democrat; 25% Republican; 37% Independent
• Character traits: competitive, idealistic, team players, nostalgic, proud of their country, proud of their accomplishments^†

Top concerns for advisors to address:

• Uncover their purpose. Many Baby Boomers are in the fortunate position to see their work ethic pay off. They’re in senior leadership roles and at the peak of their career. If they’ve achieved financial stability, chances are they are ready for something more: purpose. Your Baby Boomer clients will value your services more, and find your offering unique, if you can help them create a clearer line of sight between their investments and their personal values and legacy.
• Provide retirement expertise. Baby Boomer clients are in transition to either pre-retiree or retiree. The path to security and feeling good is fraught with difficult choices. The decisions range from the emotional (selling homes, ending careers, or reinventing careers) to those around investment and savings (how much is enough, strategies to catch up, Social Security, and long-term care). With less than 5 percent of advisory business specializing in retirement issues and a dire need from your clients for information, specializing in the issues surrounding retirement may be the intersection ...