December Talking Point: A New "Gray" Niche?
Shelley Lee - 06:30am Dec 1, 2005 Pacific
"Voice" Editor and regular JFP writer
The graying of America appears to be creating new opportunities for enterprising entrepreneurs who are finding a niche working with...well, the grayhairs of America. According to the MetLife Mature Market Institute, new "gray" specialties include retirement transition coaches, aging-in-place specialists, senior move managers, and daily money managers. The term "financial gerontologist" pops up in a broad Internet search about new services for aging America, which got your Voice editor wondering: just what is a financial gerontologist? According to the American Institute of Financial Gerontology, "financial gerontology was established as a discipline in 1988. Since that time, financial gerontologists have worked to identify those gerontological concepts, issues, data, and research findings most relevant to financial services and to communicate them to a broad range of professionals through teaching and applied research. Financial gerontology is multidisciplinary, building on relevant teachings from biology, psychology, sociology, and demography to understand the lifelong wealth span issues and aspirations of aging individuals and their families. Registered Financial Gerontologists deliver financial solutions in a comprehensive manner with increased knowledge of the older client's broad based needs."
Have you ever worked with a financial gerontologist as part of a team approach to advising clients? Have you ever considered becoming one? How important (or not) is this new discipline? We'd love to hear your thoughts. Discuss it here.