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Wednesday, January 29, 2014

Do Stock Brokers Need Help to Advise Boomers on How to Invest their Money?

Do stock brokers and financial advisors need help in preparing to advise baby boomers how they should invest their money as they plan for retirement and retire?  Well, Bank of America Merrill Lynch apparently thinks so. According to a report on today's "onwallstreet" website, Merrill has retained a gerontologist, to assist in preparing its advisors to deal with the aging population in America, who are customers of Merrill. For those of you unfamiliar with the term, a gerontologist is a person who is trained to study the social,psychological and biological aspects of aging.  It differs from geriatrics which is the medical study of aging.

The gerontologist named by Merrill, Cynthia Hutchins, has a degree in gerontology from the University of Southern California (USC) and has worked for some 28 years in the financial industry and for 15 years with Merrill in various capacities.. She was named by Merrill  to train Merrill's 15000 advisors on how they can better assist clients with age-related issues such as planning for retirement , use of resources in retirement as well as other health and finance issues, as well as issues arising from things such as dealing with adult children who return home and grandparents raising their grandchildren

Sounds like it might be a good idea.  Let me know what you think.

1 comment :

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