Michael P. Sullivan presents Selling Retirement Income Products to Boomers.
Boomers are demanding solutions to help them create, maintain and manage suitable levels of retirement income for as long as needed. This hard-hitting presentation by Boomer-authority Mike Sullivan shows advisors how to present those solutions and sell more effectively.
Boomers in their mid-40s to early 60s are entering their peak earnings and savings years. They are nearing their retirement and wealth transfer years and are likely to live much longer. Two thirds of them are estimated to retire between now and 2013, according to Tiburon Research. This transition represents an exceptional opportunity for advisors, and along with it significant sales challenges.
Boomers nearing retirement face increasingly complex financial options and decisions - increased longevity, grandparenting; parent caregiving; new careers; inheritances; divorce and remarriage. They need help and they are not getting the help they need!
An estimated 50% of affluent Boomers don't have advisors, according to a survey from one insurance company, and nearly two-thirds have no written financial retirement plan. The survey of Boomers with at least $250,000 in investable assets or household income of $150,000 also found that 31% of those ages 41-49 (and 27% of those ages 50-59) have never met with a financial advisor. Selling to them isn't that simple. This generation is dramatically different, better educated and more broadly knowledgeable, and they always want to be in control.
Mike Sullivan shows advisors that:
• Retirement is not just a financial event! He provides advisors with a holistic understanding of Boomers' financial and non-financial needs.
• Boomer clients process information differently than when they were younger.
• Hot buttons can connect product benefits to Boomers' needs.