As Boomers start moving into retirement, a huge pool of money is “in motion,” reports a study by Pershing LLC, and those financial advisors who manage to “capture the retirement relationship” with investment clients stand to gain 50% more of those clients’ wallets.
Robert Cirrotti, director in product management and development at Pershing, a unit of BNY Mellon, says that the current amount of “money in motion” is about $300 billion a year, a figure he said is growing steadily as more and more Baby Boomers start to leave the workforce and prepare for their retirement years.
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