Historically, employee stock ownership plans have been one of the least understood and least utilized types of employee benefit plans. However, the baby boomer age wave will result in an ESOP boom - and employee benefit advisers will do well to prepare themselves by increasing their knowledge of this powerful planning strategy now.

e_SClBhe first cohort of baby boomers reaches age 65 this year, with the final cohort reaching age 65 in 2029. This means there is an unprecedented opportunity for employment benefit advisers to offer services and products to aging baby boomer business owners looking for assistance with ownership succession planning.

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