Financial Advisors: Economic Downturn Hitting Boomers Hardest

According to the research, Boomers have neglected planning because they don’t fully understand the value (a barrier cited by 78 percent of respondents) and they are embarrassed that they haven’t accumulated more assets (mentioned by 70 percent of respondents) and thus ignore the problem. Nearly half (49 percent) of financial advisors responding to the survey said at least 75 percent of the impetus for a successful financial plan comes from them rather than the client.