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IncomeConductor Launches ‘Pro’ Retirement Planning Platform

By John Manganaro

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The fintech firm IncomeConductor has announced the launch of a new addition to its suite of financial planning software called IncomeConductor Pro, described as an interactive planning tool designed to help wealth managers and financial advisors guide clients as they prepare for life after work.

While previewing the planning tool for ThinkAdvisor, Sheryl O’Connor, CEO and co-founder of IncomeConductor, said the Pro platform “seamlessly brings together comprehensive retirement data into an interactive, real-time interface,” enabling advisors to deliver “clarity and precision to clients” while streamlining the advice delivery process.

Why it matters: In today’s fast-evolving economic environment, advising clients on crafting a reliable income stream for their retirement involves a growing list of investment options, spending considerations and dynamic risks that include an investor’s sequence of returns and potential for excess longevity.

The work of leading researchers shows diligence and flexibility in retirement spending are fundamental to success — and that investors can no longer afford to follow mere rules of thumb such as the 4% “safe withdrawal” framework.

As O’Connor emphasized, advisors are being called upon to help clients protect their retirement income given the risk that they might outlive their savings and could experience negative portfolio returns late in their working lives or early in retirement. Those who fail to provide adequate answers to these questions will surely find their practices losing ground, she warned.

What to know: According to O’Connor, the new planning platform “puts the focus on actionable insights,” and it uses what she called “easily comprehensible visual aids and next-best-step solutions” to allow advisors to quickly address their clients’ most pressing retirement challenges.

The platform helps advisors by quantifying critical issues such as excess and unfunded income, Medicare surcharges, high required minimum distributions and the potential for significant taxes. The goal, O’Connor said, is to deliver superior retirement outcomes while also helping advisor save time and effort, in turn allowing them to address complex client planning needs at greater scale.

Based on time and motion studies conducted by the firm, advisors and their staff can save hours in creating plans by using IncomeConductor Pro.

What they’re saying: “The Pro editor empowers advisors to actively engage clients in creating tailor-made, documented retirement plans,” O’Connor adds. “This includes the integration of client accounts, contribution strategies, personalized longevity and health care expense projections, Social Security optimization and annuity considerations.”

Pictured: Sheryl O’Connor

John Manganaro

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