Fact Book Shows Effects Of GLB, Boomers

At the briefing, Steve Bartlett, president of the Financial Services Roundtable, welcomed the "democratization of investment."

"The economy is more vibrant than ever and the Roundtable is working to increase incentives and opportunities for Americans to invest in it," Bartlett said.

Dr. Steven Weisbart, an economist at the Insurance Information Institute, noted that members of the baby boom generation, like members of earlier generations, are showing a tendency to shift toward more conservative products — such as fixed annuities, long-term bonds, variable annuities with yield guarantees, and long term care insurance — as they age.

But the boomers have an even stronger incentive than members of the "Greatest Generation" and the "Silent Generation" have to shift to more conservative investments, Weisbart said.

"What the baby boomers are looking for are the qualities defined benefit plans used to provide," Weisbart said