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 BlackRock 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 BlackRock, at the Reuters Global Wealth Management Summit in Boston.

“The questions won’t be, ‘How did I do against the S&P 500?’” he said. “It’s, ‘Can I meet these liabilities?’”

Instead of a focus on building wealth and a retirement nest egg, those clients will soon focus on making the money last.

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