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.