As noted in “Advisor 2020,” advisors of the future will need to be engaged in “Lifestyle Management,” an emerging practice that will require advisors to understand their clients’ behaviors and manage their clients' living environments (as well as their financial assets).

According to Advisor 2020, examples of lifestyle management include helping senior clients find nutritionists to maintain a healthy diet, or find the right home builder to redesign a home that reflects a resident who is wheelchair-bound or is transitioning to a less mobile lifestyle.

This CNBC article tells how some financial advisors have made elder-care planning a primary focus of their practices, with the growing demand coming from baby boomers and their elderly parents.