Compelling Images Key To Selling To Boomers: Speaker

"When we asked boomers to define 'over the hill,' they'd say 'what hill?' or 'it's all relative' or 'it's 15 or 20 years beyond my age,'" he said. "The leading edge of boomers is a long way from looking backwards. They still have things to do."

Also distinguishing boomers from their parents is their greater desire for personal gratification, Thornhill said. Whereas their parents tended to take a more conservative approach to money and finances because of their hardships during the Great Depression and the Second World War, boomers' formative years were characterized by economic prosperity and an explosion in consumer buying. As a result, they feel a greater sense of entitlement and optimism than their elders did, and they're more driven to get ahead.

Thornhill cautioned against lumping all boomers together. He observed that, while much of the financial services community is now focused on the leading edge of boomers entering retirement, more than half of the post-World War II generation was born after 1957 and is only now turning 50.

To market effectively to older boomers, and seniors generally, advisors need to invoke emotionally compelling and positive imagery, Thornhill said. Thus, a presentation that appeals to the client's values and the objectives they hope to realize in retirement-traveling the world via cruise ship, for instance, or working as a volunteer for a favorite charity or spending quality time with grandchildren-is more likely to influence them than the depressing imagery of hardships that await those who don't prepare financially.

Advisors also need to need frame conversations to appeal to the boomer client's desire for control, he said. The advisor might point out, for example, that boomers can secure their retirement futures by investing in assets over which they have control (such as 401(k)s and IRAs), rather than depending on sources of income over which they have no control (i.e., Social Security or a company pension).