The California Department of Aging reports that the senior market group will grow by 112 percent from 1990 to 2020. Over half the counties in the state expect 100 percent increases in that age group. Some central and southern counties will have growth rates topping 150 percent. The influence of the over-60 age group on California's near-future is predictable.

With opportunity comes responsibility. Financial advisers can and should be doing a better job of serving the needs of this unique marketplace. Just the opposite seems to be true. Since 2000, the California Department of Insurance received approximately 2500 complaints and inquiries about annuity products; 25 percent of these complaints have involved senior citizens.

Source: California Department of Aging Web site.

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