AdviceAmerica, Inc., a Fremont, Calif.-based provider of financial
planning software, today announced the release of
their first product that specifically targets the retirement income and
distribution planning needs of the baby boom generation.
AdvisorVision Retirement Income
Edition addresses the dynamic stages of retirement, post retirement
risks and retirement income planning, empowering advisors to create
better plans for their clients' post retirement years.
The need for
better retirement planning tools is clear. Anemic portfolio returns
coupled with low savings rates, increased longevity and the decline of
the traditional pension plan are threatening to upset the retirement
dreams of many Americans. According to a National Retirement Risk index
recently developed by the Center for Retirement Research at Boston
College, Americans' risk of a lower standard of living in retirement is
on the rise, with 43% projected to fall short based on Federal Reserve
data for 2004 vs. 38% in 2001 and 31% two decades ago.
"Financial
services firms must arm their advisors with tools that offer retirement
income and distribution advice and, ultimately, increase retirement
asset consolidation and retention, customer satisfaction and new
business," said Purna Pareek, CEO and founder of AdviceAmerica.
AdvisorVision
Retirement Income Edition, a Web-based software application, is
designed to do just that. With the Express edition, which retails
for $299, advisors can create plans in as little as 15 minutes
using the programs artificial intelligence engine and evaluate a range
of scenarios, including savings and cash flow, expenses, income, market
performance, withdrawal strategy, annuities, residence downsizing and
long-term care. Experienced advisors working with high-net-worth
clients can perform extensive, detailed analysis using the Professional
version, which retails for $499. Discounts are available for multiple
user purchases of either version. Enterprise installations, which can be customized to the user's
specifications, begin at $250,000.