To effectively plan for clients’ retirement, advisors are going to have to broach sensitive subjects around family finance.

That’s the message from a Bank of America Merrill Lynch study titled, “Family & Retirement: The Elephant in the Room,” which showed that many adults 50 and older with over $250,000 in investable assets were simply not discussing with their families – in many cases even their spouse - some of the most important financial planning concerns. More than half had not discussed issues such as a will or health directive with their children and nearly one-third of respondents over 50 had not had those discussions with their spouse.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access