As population ages, Merrill Lynch appoints gerontology director

Wealth management firms like Merrill Lynch and their clients are facing new challenges as the American population ages and baby boomers begin to put their retirement plans to the test. People are living longer, and thus facing longer-than-expected retirements.

With that in mind, the company has hired Cyndi Hutchins as its first director of gerontology, according to Fox News.

A 28-year wealth management and retirement industry veteran, Hutchins is charged with helping to rethink how financial advisers approach retirement planning.

Read more from Fox News.