Middle-income Baby Boomers, those earning between $30,000 and $74,000 are vastly underserved in terms of preparing for retirement, according to a new report from the Insured Retirement Institute, “Middle-Income Boomers and Retirement: Tapping the Significant and Underserved Middle-Income Market.”

Only 51% have determined how much they will need to save for a comfortable retirement, 48%  are not comfortable making investment choices, and only 43% have contacted a financial adviser.

Of those who have not worked with an adviser, 63% think they are doing a good job of preparing for retirement—but that jumps to 90% for those who have worked with an adviser.

Asked what is the most important feature they look for when selecting a retirement investment vehicle, 19% said principal protection and 17% pointed to guaranteed income.

“The middle-income Boomer market provides a great opportunity for advisers to grow their client base while helping a large segment of the population reach their retirement goals,” said Cathy Weatherford, president and CEO of IRI. “Our research shows that although Boomers have the means to save for retirement, they do not believe they have the knowledge to select the best investment vehicle to meet their future needs. Clearly, financial professionals have the knowledge and expertise to serve this market and can provide the needed guidance to Boomers looking to fund and build their retirement nest egg.”