If you’re a financial advisor, do you use software to help your near-retirement or retired clients create stable lifelong income? If so, please tell us what kind you use and how you like it.
Below is a list of the tools (and the companies that produce them) that we’re aware of.
- Retirement Works II (Still River)
- Income Strategy Generator (ISG).
- Income for Life Model (Wealth2K).
- 360 Pro (Emoney Advisor).
- THRIVE Income Distribution System (Curtis Cloke)
- LifeYield ROI (LifeYield)
- Retirement Income Asset Manager (RIAM)
- Retirement Savings Planner (Torrid Technologies)
- Income Max (Cygnus Software)
- NaviPlan (Zywave)
- goalgamiPro (ASI)
- Otar Retirement Calculator (Jim Otar)
If you’re using something else, let us know. If you don’t mind, we’d even like to chat with you by phone or e-mail about the pros and cons of the software you’ve tried. Send me an email ([email protected]) or call me at 610-965-3103.
At the moment, we’re not focusing on the planning platforms that broker/dealers provide their affiliated advisors, or on the “wizards” that some annuity issuers and asset managers post on their public websites. But if you use one of those tools in your work, tell us what you like or don’t like about it.
Granted, there’s not always a bright line between generic financial planning software and retirement income planning software. No matter. Whatever you happen to use to help your clients create a retirement income strategy—even if it’s just a Magic 8 Ball—we’re all ears.