SunGard has released a new retirement income simulation and planning module that aims to help wealth management service providers better respond to growing client demands for a guaranteed retirement income distribution. The new Retirement Income Simulation Expert (RISE) module helps financial advisors to simply and accurately assist clients in analysing their retirement income by evaluating, comparing and illustrating income goal probabilities, the risk inherent in various planning scenarios, and the ways in which annuities affect the risk of those scenarios.
“Realistic planning at retirement is critical to helping attain a desired standard of living, achieve goals, and avoid the anxiety of falling short on income,” says Blaine Maxfield, the president of SunGard’s wealth management applications business. “Individuals will look to their financial advisors as lifetime income specialists to approach the often complex retirement planning process from a sustained income perspective, and help evaluate the potential risks to their portfolios during long periods of withdrawals. The RISE module’s ability to perform side-by-side illustrations on expected risk in planning alternatives, which may include annuities, is especially powerful for broker-dealers, insurance companies, banks, RIAs or any financial planner emphasising retirement planning or working with annuities.”