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Financial advisers approaching retirement alongside their clients

06/23/11

While a lot of attention is paid to the fact that America's aging population should plan properly for their retirement through financial resources such as annuities and Social Security to support the rest of their lives.

What is often overlooked is the fact that the financial planners these baby boomers are counting on worldwide may wind up retiring before they do, according to the Sydney Morning Herald.

''A great many financial planners are also baby boomers about to retire and unless they've been involved in a well-planned handover, their clients are likely to feel left in the lurch at a time when they most need personal and specific advice,'' the head of wealth management at Equity Trustees, Phil Galagher, told the paper.

One-and-a-half million baby boomers will turn 65 every year for the next 18 years, according to the Tuscon Citizen. With that many people approaching and going into retirement it is a fair assumption to believe some of them are financial planners and advisers. If people do not ensure their adviser will be there for them they could simply be passed on to another adviser that may not know their exact wishes.

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