What's in it for you

Financial Planning, July, 2006 by Donald Jay Korn

The impending retirement of the baby boom generation has attrac-ted more than casual interest. Millions of retirees, goes the pitch, will be rolling lush 401(k) accounts to IRAs. Thus responsible for managing a large pot of money-and for stretching it to cover a lengthy lifespan-these retirees are likely to turn to financial planners for aid.

These planners will face challenges and opportunities of their own. This anticipated wave of new business is energizing broker-dealers to seek out strong producers. "Reps are getting two or three mailings a week," says Peter Grifo, vice president at Cadaret, Grant in Syracuse, N.Y. "It's a competitive market for recruiting." As the rivalry heats up, planners are likely to find attractive offers on the table. The blandishments are not...