Advisors are struggling to serve baby boomer clients and their retirement income needs, according to a new study from GDC Research and Practical Perspectives.

The study finds that advisors are challenged with attracting and engaging with investors who are retired or almost retired. They are also divided as to the best way to generate sustainable income, according to the report. Specifically, many advisors lack the skills to address basic issues like setting realistic expectations or educating investors on what retirement really involves. While most advisors are confident in their abilities to serve retirees, they have not coalesced around a common strategy for generating retirement income and many lack capabilities to deal with common topics such as Social Security, Medicare, or elder care.

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