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A Baby Boomer Stampede May Prove Just a Trot: Wealth-management advisors might have to prepare themselves for fewer Baby Boomers-and fewer assets-than has been so often been projected. And competition among banks will be fierce.
From:
US Banker
| Date:
July 1, 2008
| COPYRIGHT 2008 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.Copyright information
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As Baby Boomers move into their 60s, banks wealth-management divisions have reason to be excited. At least, thats what conventional wisdom has held for years now. But what if that oft-cited number of 78 million Boomers, retiring in the next 25 years, doesnt pan out? What if the number of actual retirees is actually 20 percent to 25 percent less? How would the wealth-management industry, which has been ramping up for this big pay day, respond?
A new report by The Coyne ...