The aging of the baby boom generation has been a boon to many financial planners. Fifty- and sixtysomething boomers, heading into retirement, have brought their large portfolios and a desire to have them well managed, in order to support a comfortable retirement. But loading up a practice with pre-retirees as well as older retirees may have its drawbacks.

"Many planners are working with clients just as they are getting ready to draw down on their assets," says Matt Iverson, CEO of Boulevard R in San Francisco, which offers marketing programs for financial advisors. "There is not a lot of growth opportunity there."

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