The ranks of aging retirees are swelling, and by 2050 the number of Americans 85 and older is expected to reach 19 million, or 5.5 million more than in 2010. Financial planners in turn are increasingly swamped by older clients with a host of critical and, at times, unfamiliar issues.
While many advisors have already begun to alter their practices to serve an aging client base, approaches vary. Some planners choose to hire additional staff or build out their practices to meet these clients’ needs, while others are inclined to work with outside partners such as elder-law attorneys.
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