Amerivest Offers Supplemental Income Portfolios
Amerivest Investment Management, a subsidiary of TD Ameritrade, has launched Amerivest Supplemental Income Portfolios, a new series of mutual fund portfolios designed specifically to generate income. According to a survey of nearly 10,000 TD Ameritrade clients, 63% of investors consider steady income in retirement to be their top financial priority. Many investors are anticipating economic challenges in their future such as adjusting to a lower standard of living in retirement or having to relocate to an area with a lower cost of living.
Supplemental Income Portfolios, powered by Morningstar Associates, are designed to give investors some control over their income streams as they approach and/or enter retirement. Investors have the ability to select their desired income withdrawal frequency and amount using an online tool connected to the account. Investors can also choose their portfolio style, conservative or moderate.
"As more and more baby boomers approach and enter retirement, we've seen increased demand for tools and resources that help generate and manage income once retirement is no longer a goal but a reality," says Ram Subramaniam, the head of products at TD Ameritrade. "This new service can help supplement Social Security, pensions and other income sources in retirement, while giving investors the ability to distribute income on a periodic basis. Investors even have the ability to choose when and potentially how much their payouts will be."
Security Benefit Chooses Fiduciary Provider
Security Benefit Corporation, a provider of group and individual retirement plan services, has chosen Mesirow Financial to provide independent fiduciary services to its customers. Under the agreement, Mesirow Financial's Investment Strategies department will select, monitor and report on investments available inside select Security Benefit products. Mesirow Financial's investment selection methodology involves a review process that selects an investment lineup corresponding to retirement plan asset classes appropriate for long-term investing.
Commonwealth Announces Investor360°
Commonwealth Financial Network, Waltham, Mass., has introduced Investor360°, a custom online tool that allows investors to view their complete financial picture. The platform is fully integrated and offers performance reporting, realized gain/loss data and enhanced account aggregation capabilities and it allows users to export data to Excel and TurboTax. These features are entitlement-based, and advisors can share them with individual investors at their discretion.
"Investor360° provides our advisors' clients access to their investment information 24/7, allowing them to feel knowledgeable about their entire financial lives," says Darren Tedesco, the firm's managing principal of innovation and strategy.
Securities America Creates Practice Transition Center
Securities America, an independent broker-dealer headquartered in LaVista, Neb., recently introduced its Practice Transition Center for advisors who want to expand their practice through acquisition or have a contingency plan in place should the unexpected happen.
The Practice Transition Center, a library of videos and tools designed to help advisors understand and implement the process of buying or selling a practice, offers an overview of succession planning and details on valuation, due diligence, deal structuring and client transition.
BAM Launches Social Security Optimizer
BAM Advisor Services, St. Louis, Mo., has launched the Social Security Optimizer, a free Web site designed to show visitors filing strategies to maximize their Social Security benefits.
Most retirees file for benefits as soon as possible. Yet the longer claiming is delayed, the greater the benefits. The site asks for some basic information such as your current age, health, marital status and expected retirement age and delivers a report showing additional Social Security benefits possible if enhanced withdrawal strategies are followed. The Web site can be found at www.WhenToFileSS.com.
Fidelity Updates iPad App
Fidelity Investments released its updated next-generation app for the iPad. The app's new features include:
World market performance and news;
Advanced, interactive charting; and
Investor trends and ideas;
The app has been enhanced visually with elements such as heat mapping to indicate price movement in a portfolio and an interactive "click wheel" tool for account balances. To learn more and view a video demo, visit www.fidelity.com/newapp.