ING Builds Wealth Management Platform
ING Financial Partners has launched a new wealth management platform that gives advisors a complete picture of their clients’ finances.
The platform helps consolidate, organize and analyze financial information from retirement accounts and various other sources. It offers online resources that both the advisor and the client can use independently or together. It also helps advisors effectively manage financial transactions and other business functions.
The platform offers:
• A personalized Web site for clients that offers a view of their savings and personal finances, including retirement and credit card accounts, car payments, mortgages, life insurance and disability coverage.
• The ability to upload and store documents such as wills, financial statements and tax returns.
• Retirement income analysis that can be adjusted to show outcomes based on changes in savings, age of retirement or number of years in retirement.
• Reminders that can be customized based on key triggers, such as a client turning a certain age, a security attaining a certain price or a percentage change.
• Privacy features that allow a client to determine whether an advisor has the ability to view transactions on outside accounts, such as credit cards.
Fidelity Introduces Mobile Check Deposit
Fidelity Investments has introduced the availability of mobile check deposits for registered investment advisors, broker-dealers and family office clients.
Financial advisors and family office professionals can take a picture of a check using the camera on a smartphone or tablet and securely deposit the funds directly into their clients’ brokerage accounts.
“This new mobile offering illustrates our commitment to anticipating technology shifts and helping our clients leverage new innovations effectively,” said Edward O’Brien, senior vice president and head of platform technology, Fidelity Institutional.
Northwestern Mutual Offers Income Annuity
Designed to meet the need for reliable income in retirement, Northwestern Mutual’s new Select Portfolio Immediate Income Annuity creates a base of guaranteed lifetime income—much like a traditional pension—but also has upside potential for that income to grow through dividends. Clients can receive dividend payouts as cash during retirement, keep dividends in the contract to increase their income stream or select a combination of the two options.
“Retirement planning today is challenging due to fewer employer-sponsored pension plans, market volatility and increased longevity. So our goal is to help create more certainty, security and predictability in retirement,” says David Simbro, senior vice president of life and annuity products for Northwestern Mutual.
Prudential Introduces Target Date Funds
Prudential’s new Day One funds are target-date funds that include non-traditional asset classes, such as commodities and real estate, as well as Treasury Inflation-Protected Securities (TIPS).
As a participant ages, the fund allocation to equities decreases, stabilizing 10 years after the target date at 26% equities, 9% commodities and real estate, and 65% fixed income.
The funds are offered in five-year increments through 2060. There is also an income fund for current retirees and individuals nearing retirement.
FSI Unveils New Web Site & Social Network
The Financial Services Institute has introduced a new Web site and social network aimed at helping its independent financial advisor members grow their businesses.
The new Web site and social network, FSI Social, are designed to provide a secure virtual environment for both firm executives and financial advisor members to collaborate, share best practices and continue to improve compliance throughout the industry.
FSI also introduced two new tools, a one-minute video and a corresponding one-page infographic, that are intended to help advisors explain the value of independence to clients and prospective clients.
Morningstar Data Available On eVestment
EVestment, a provider of institutional investment data and analytics, has entered into an agreement to make Morningstar data available on its suite of Analytic solutions. EVestment cloud-based solutions help global investors select investment managers, enable asset managers to market their funds worldwide and help clients identify and capitalize on global investment trends.
“Morningstar’s data complements our extensive database of institutional investment strategies to better serve clients with global operations and mixed clientele,” states Jim Minnick, founder and CEO of eVestment.