HOLLYWOOD, Fla. – They’re skeptical, cynical and probably way too dependent on mobile computing devices. But advisors who don’t make the effort now to target and cater to Generation X and Generation Y investors will pay a steep price in the next decade as their bread-and-butter Baby Boomer clients transition from wealth accumulators to wealth distributors.

“For the last two decades, you have focused on Baby Boomers – and rightly so,” Gabe Garcia, a director at Pershing Advisor Solutions, told attendees at his firm’s Insite 2012 Financial Solutions Conference. “That has served you well and allowed you to create a successful business.”

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