ALI Launches Retirement Income Risk Tool

The Alliance for Lifetime Income (ALI) has launched a first-of-its-kind educational tool for consumers called the Retirement Income Security Evaluation (or RISE) Score, which it developed with Milliman, a Seattle-based independent actuarial and consulting firm.

Modeled after the familiar credit score scale of 0 to 850, the RISE Score provides consumers with a quick and simple assessment of their financial means and needs so they can better understand the risks and possible gap in their protected lifetime income. Since the score does not require its users to enter any personally identifiable information, it is safe and secure.

The RISE Score analyzes demographic information, retirement savings, projected retirement expenses and expected sources of retirement income against a host of risks that consumers may face in retirement. Financial advisors can use this assessment as the basis for a discussion of the importance of protected lifetime income in retirement, according to Jean Statler, executive director of the alliance.

The Alliance for Lifetime Income is a nonprofit formed and supported by national financial services organizations to create public awareness and to educate Americans about the importance of protected lifetime income.

Timothy Plan To Include Two New ETFs For The Faithful

The Timothy Plan mutual fund family has partnered with Victory Capital, a Cleveland subsidiary of Crestview Victory LP, to release two new exchange-traded funds for socially conscious Christian investors seeking to honor God with their money.

The Timothy Plan Large Cap Core and Timothy Plan High Dividend Stock ETFs, launched on May 1, are designed to be affordable, transparent, tax-efficient and simple ways to invest and steward God-given resources wisely, according to Timothy Plan founder Art Ally. Both ETFs offer investors the benefits of exposure to large-cap U.S. stocks, without subjecting them to the limitations of weighting.

Timothy Plan ETFs are distributed by Foreside Fund Services LLC. Timothy Partners Ltd. is the investment advisor, with Victory Capital Management Inc. acting as subadvisor.

Bank Of America Launches Digital HSA Platform

Bank of America, headquartered in Charlotte, N.C., has launched a digital platform for health savings accounts (HSAs) to provide its customers with greater access to them.

HSAs have a triple tax advantage: The contributions to them are tax-deductible, which reduces federal income taxes; the assets in an HSA account typically grow tax-free at the federal level; and funds can be withdrawn from them without being taxed by the federal government if the account holder uses them for qualified medical expenses.

The new digital platform includes a seamless integration between online and mobile channels; a bar code scanner to validate qualified medical expenses via mobile devices; targeted messaging, banners and articles to personalize the participant experience; and a new online learning hub to help participants better understand health accounts—a hub that includes calculators, helpful content, testimonials and tips for managing HSA investments.

Bank of America has also introduced enhancements to its health benefit solutions program that include increased fraud monitoring and prevention measures; full integration with Merrill Lynch’s Chief Investment Office (CIO); increased interest rates for customers with an HSA cash balance of more than $7,500; and expanded advisor distribution.

Envestnet Adds Five New Features to Advisor Analytics Tools

Envestnet Inc., a provider of wealth management solutions based in Chicago, has expanded its Envestnet Advisor Analytics platform to include five new features with its suite of tools.

The platform already provides advisors with data-driven insights, risk ratings and access to actionable intelligence in managing client investments.

The five new features are Enterprise Advisor Analytics, which enterprise clients can access through practice-level dashboards; RIA Analytics for independent and ria firms; the RIA Pulse, a live weekly report of curated data; platform integration via widgets; and LifeYield TaxEfficient Score dashboards.

The new offering will be available on Envestnet Intelligence, which is Envestnet’s omni-channel platform. The platform includes desktop, mobile and voice alerting channels. It leverages artificial intelligence and machine learning, natural language processing and an advanced data analytics engine that enables advisors to easily answer key business questions.

Morningstar Sustainability Atlas Indexes Best And Worst ESG Picks Worldwide

The Morningstar Sustainability Atlas now enables users to review 46 country-specific equity indexes to find geographic areas that offer the best investment opportunities while also helping investors avoid the worst, according to environmental, social and governance (ESG) criteria.

For this year’s Atlas—a color-coded map of global markets—researchers analyzed Morningstar’s entire suite of global equity indexes, representing 97% of global market capitalization. And for the first time, researchers have incorporated the Morningstar Portfolio Carbon Metrics to assess companies’ vulnerability to the transition away from a fossil fuel-intensive economy.

Sustainability assessments are provided to Morningstar by ESG researcher Sustainalytics, which assigns ESG scores to more than 10,000 companies across the globe, then compares their ESG profiles with global industry peers, based on industry-relevant indicators.