Baby boomers could be fertile ground for advisory businesses looking to identify a target market, according to a recent research report.

     "It is critical to realize the importance of baby boomers," says the report by Tiburon Strategic Advisors, a market research and strategy consulting firm.

     "It is the baby boomers, those born between 1946 and 1964, who will look to liquefy their retirement plans, small- and medium-sized businesses and homes as they reach retirement in the coming years," the report continues. "Opportunities within the World War II generation are becoming increasingly limited and Generation X opportunities are still limited."

     The report outlined key strategies for success, including identifying target markets, which include categories based on age, investable assets, occupation and sources of wealth.

     The report notes that high- and moderate-net-worth consumers control more than half of all investable assets. Moderate households, those with between $100,000 and $1 million in investable assets, control 19% of investable assets and high-net-worth households, with between $1 million and $5 million, control 34%.

     When looking at occupations, corporate executives, small- and medium-sized business owners and professional such as doctors and lawyers are the key sources of wealth, the report says. These three groups make up about 90% of affluent households, those with an adjusted gross annual income of more than $225,000 or net worth greater than $3 million.