OppenheimerFunds Inc. recently announced a major upgrade to its
Retirement Income Manager Software. The original version of this free,
stand-alone, Web-based software program, which we reviewed in October
2005
(http://www.financialadvisormagazine.com/past_issues.php?id_content=3&idArticle=1057&idPastIssue=102),
provided advisors with a quick, concise overview of a client's
retirement income situation. While the initial version did a credible
job given the constraints placed upon the developers, there were a few
noteworthy omissions, such as the ability to model the preretirement
period and an inability to compare two plans side by side.
Version 2.0 of RIM
addresses these deficiencies and adds additional capabilities. "We have
intensified our efforts in helping baby boomers in the 'Transition Ten'
years-the five years before retirement and the five years into
retirement-to generate the lasting income they need to maintain the
lifestyle they want," said John Davis, vice president, Retirement
Plans, OppenheimerFunds.
Enhancements
include the ability to model preretirement savings up to ten years
prior to retirement, the addition of new asset classes (REITs and
commodities), the ability to model real estate holdings, control over
the order of spending among tax categories, the ability to include
reverse mortgages in the scenarios and controls that enable the advisor
to create custom model portfolios by asset class. In addition, new
reports can show side-by-side plan comparisons.
"We added these
enhancements, being careful not to add complication for the average
user," said Davis. "The basic navigation is pretty similar to the
original version, while the features for 'power users' are now in a
second set of tabs." For further information, visit:
https://www.oppenheimerfunds.com/advisors/generalInformation.