A trio of financial services providers has partnered to introduce a tool that helps advisors generate a reliable source of income for retired clients, according to a news release from Cetera Financial Group.
Cetera, Allianz and Capital Group are rolling out SetIncome, which offers a combination of annuities and traditional asset management strategies from industry leaders in investing, retirement solutions and risk management.
It will be available exclusively to financial advisors affiliated with El Segundo, Calif.-based Cetera. Clients working with a Cetera-affiliated financial advisor can use SetIncome to create a retirement income plan with guaranteed fixed annuity and asset management models, which includes American Funds by Capital Group, the release said.
SetIncome uses income analysis to simulate retirees’ fluctuating income needs and adjust their financial strategies accordingly, according to Cetera, adding that financial advisors can create an optimized income strategy in as little as five clicks of a button.
“With SetIncome, Cetera-affiliated financial advisors can help their clients seize control of their retirement journey, beyond wealth accumulation and retirement plan participation, to guaranteed income distribution throughout the span of their retirement." Cetera’s president Adam Antoniades said in a prepared statement.