michael.pendergrass
Acronym
Income Discovery
Product ID
Income_Planning_2
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Description
One-click retirement income strategy optimization.
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Details
- An advisor reviews a household’s details in the Overview panel.
- Use the Profile or Sources tab to view additional details or make adjustments.
- If no adjustments are needed, an advisor clicks the Optimize button to create the plan analysis.
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- An advisor views the generated plans in the Plans tab.
- The optimization selects 3 plans:
Current: highest confidence of generating the desired spending using an average retiree’s income strategy
Current Safe: same except at a 90% Probability of Success
Optimal: co-optimizes all levers & returns the max spending or after-tax legacy at a 90% Probability of Success - The Optimal plan’s recommendations include Social Security, pension settlement, lifetime income, asset allocation, capital gain management strategies and tax-optimized disbursals. It aims to increase after-tax spending or after-tax legacy per the client’s preference.
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Details
- Advisors can access the Flexible Plan Builder to create a custom plan.
- An advisor can optimize on safe income or maximum legacy, or specify a desired income.
- An advisor can lock one or more levers (in this example, locking the pension payout option on monthly lifetime payments), and optimize among the remaining levers. This custom plan generated will display as a 4th plan card for easy side-by-side comparison.
Features
Income Discovery’s intelligent engine, AIDA, optimizes a retirement income plan:
- Maximize either confidence, safe spending or post-tax legacy
- Includes Social Security, pension, annuity, tax rate targets
- One-click results across thousands of strategies
Vendors
Management Style
Schwab Products
Section