The strategic partnership will lead to Achaean’s retirement advice software tool, Retirement Outcome, to be integrated into Envestnet’s wealth management platform, to create an end-to-end retirement income planning and reporting solution.
Though they can be used together today, the full integration is scheduled for November 2012, Achaean Financial said.
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Achaean added that post integration; the clients of Envestnet will have access to its Retirement Outcome retirement-advice system, to assist in creating outcome-based proposals and reports for investors
Further, advisors will be able to analyze a client’s income needs before and during retirement using Retirement Outcome, which will then be incorporated into a proposal on the Envestnet platform, Achaean revealed.
Investors and their advisors, with the help of Retirement Outcome, will be able to understand the tradeoffs they face in retirement and also create personalized solutions, including appropriate spending, overall portfolio risk and allocations to guaranteed-income products.
The platform takes information about a client’s wealth, income needs and asset allocation to produce a personalized outcome report.
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By GlobalDataThrough the new integration, once the investor and advisor develop a retirement plan using Retirement Outcome, the results can be added to a proposal on the Envestnet platform.
Advisors can then select appropriate investment solutions as well as annuities available on the Envestnet platform, which are incorporated into their proposals and quarterly reports.
