3D Asset Management has launched WealthConductor, a programme for advisors who are experienced in retirement income (RI) planning as well as advisors who would like to add RI planning to their practice.
With USD750 billion in retirement assets in motion and 10,000 Baby Boomers retiring each day, there is an increasing demand from clients for retirement income planning services, and advisors are looking for a scalable solution to meet these demands cost-effectively.
3D's WealthConductor is a scalable programme that includes a full suite of advisor support: live and on-demand training on the time-segmented retirement income strategy, sales and marketing support, case consultation, and an intuitive technology platform that helps the advisor manage the entire lifecycle of a retirement income plan.
"WealthConductor was developed as the next generation of retirement income planning for advisors who want to go beyond the typical 'proposal' software and, instead, implement a solution that includes intuitive management and modification capabilities," says John O'Connor, president and chief investment officer of 3D Asset Management. "Our solution truly allows the advisor to be the 'conductor' of each client's plan throughout its entire performance, rather than just the orchestrator. 3D has always been dedicated to providing innovative investment and practice management solutions for financial advisors, with a strong focus on client support and service. The WealthConductor programme expands our suite of solutions into the retirement income market."
Within the WealthConductor offering is 3D's proprietary, advisor-driven technology platform, IncomeConductor, a full Software-as-a-Service (SaaS) solution that aligns with an advisor's business process. Using a time-segmented retirement income strategy where clients' retirement assets are divided into different segments, IncomeConductor provides advisors the ability to not only create, monitor and report on the performance of an investor's plan in a compliant manner, but also provides the business analytics and 'course correction' options advisors need to bring their clients' plans back on track in the event of changes in market performance or client needs. This helps advisors address their clients' preference for dealing with smaller, simplified issues and assists both advisors and their clients successfully weather periods of high market volatility. Advisors have the flexibility of implementing their clients' plans using either commission- or fee-based products, and IncomeConductor will track accounts held at any institution.
Philip G Lubinski, a pioneer of the time-segmented retirement income strategy which he has honed for more than 30 years, partnered with 3D to develop the WealthConductor programne.
"Advisors are faced with many challenges today — mounting competition, increased regulatory scrutiny, and the need to wear many hats within their business. They don't always have the time they'd like to spend on retirement income planning with their clients," says Lubinski. "However, according to recent studies, 66 per cent of retirees currently working with an advisor would change advisors for a retirement income plan, and over 75 per cent of retirees would be willing to consolidate all of their assets with one advisor. These survey results tell us that advisors run a real risk of losing clients to advisors who do offer a strong retirement income planning solution. We feel WealthConductor provides advisors with the training and tools that they need to be successful in this exploding market segment."