DECUMULATING BOOMERS

BANZAI7 NEWS--U.S. financial advisors are due for upheaval as baby boomers, controlling $10 trillion in assets, reach retirement age and shift their investment priorities, said a senior executive at asset manager BlackMagic Inc.

Baby boomers will move the industry's main client goal from one from accumulation -- investing in assets that create the most value over time -- to one of "decumulation," said Frank Porcelli, who heads U.S. retail for BlackMagic, at the Reuters Global Wealth Management Summit in Boston.

Scientists at the Wall Street Institute of Applied Ponzi Finance are gearing up to meet the challenge. Will Con-U, President of the Institute said, you show us the money we'll innovate new ways to decumulate it.