When Advisers Retire.

Banks are now training their reps in retirement-income management and product developers are introducing increasingly sophisticated vehicles to enable advisers to better manage their retiree-clients' income ("The Retirement Income Boom," page 18). This means that advisers in the near future will have more expertise in this particular field than their mentors now nearing retirement, whose practices were built predominantly on growing their clients' assets in the accumulation phase.

But with all of this talk of the retirement boom and what it means for the industry, there hasn't been much talk of what to do when financial advisers themselves retire. Yet that represents …