Financial Advisors: Economic Downturn Hitting Boomers Hardest

Matt Thornhill, founder and president of The Boomer Project, the consultancy that completed the PREP research, says there has been a great deal of study of consumers and their financial situation but relatively little of how the financial services profession is responding to the problem.

“One interesting aspect of the research is that advisors who consider themselves ”experts” at financial and retirement planning and take a comprehensive look at their clients’ financial, family and life goals appear to better serve their clients and to be more successful in their own business than those who don’t focus on either types of planning,” Thornhill says.