After a month hiatus, Investment News Magazine is back and predicting continued growth for wealth managers in 2007. This seems to be a trend among all the 2007 predictions–it’s a good time to be an independent investment advisor.

Conventional wisdom predicts a coming surge of baby boomer retirees who will move assets out of stocks and into fixed income. This can’t be good for the market as a whole. But if you’re going to be working in financial services ten years from now, you want to be on the wealth management side of it. These retirees will be looking for experienced investment advisors. And wealth managers don’t charge based on performance.

From the article:

according to last year’s World Wealth Report, issued by New York-based Merrill Lynch & Co. Inc. and Capgemini Group in Paris, the financial wealth of investors around the world with more than $1 million in financial assets is expected to grow at an annual rate of 6% and reach $45 trillion by 2010.

Actually, 6% doesn’t seem like much to me—but I’m used to looking at statistics for technology companies. I remember when I did the initial research for Techfi (8 years ago or so), I believe the portfolio management software segment was projected to grow 12% annually. And growth in the financial planning segment was projected even higher.

If 6% is considered good for financial services, then what’s considered average? Or bad?