The research paper which is authored by Sam Pittman and Rod Greenshields focuses on the application of patent-pending Adaptive Investing methodology to manage retirement income portfolios and is aimed at financial advisors who are helping individual clients meet their retirement income needs.
Sam Pittman, a senior research analyst at Russell remarked "Retirees want consistent income from their portfolios and to avoid running out of money before they die. They also want to maintain control of their assets for as long as possible. In fact, many would like to be able to bequeath any remaining assets to heirs or charitable organizations."
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According to Russell, the first step an advisor should take when constructing a retirement plan is to compare the size of an investor’s assets.
"Advisors play a critical role in helping their clients meet retirement income goals. Russell’s Adaptive Investing approach relies on the investor’s advisor keeping a close eye not only on their client’s portfolio but equally important, on their spending plans," said Rod Greenshields, consulting director, US private client consulting group, in Russell’s advisor-sold business.
Further, advisers must also look at ways to mitigate longevity risk. Advisers must try to achieve income sustainability for life without initially having to buy an annuity.
"Under this framework, investors can preserve flexibility and keep their options open as there is always the option to buy an annuity if it is needed," added Greenshields.
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