Roame told the web audience that advisors should be focusing on baby boomers, who hold over 90 percent of the nation’s wealth, and should avoid a huge effort to attract young investors. He derided zeroing in on millennials as “skating to the puck before the puck gets there.”

Looking at the nation’s 123 million households, he said the median number of investible assets for American families is only $9,000 and 10 million have $1 million or more in net worth.

Roame forecast that the number of fee-based advisors will grow from 31,300 to 36,900 by 2019.

 

First « 1 2 » Next