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SunGard launches tool to help financial advisors optimise Social Security benefits for clients


SunGard has launched a new social security optimisation tool that helps financial advisors guide their clients on the ideal time to file for Social Security benefits.

SunGard’s WealthStation Social Security Optimiser calculates estimated Social Security benefits, analyses all possible ages to start receiving benefits, and identifies the optimal benefit under a variety of conditions and scenarios.
SunGard’s WealthStation Social Security Optimiser integrates with other WealthStation modules that analyse Social Security and other retirement income concerns, helping the advisor to use the optimised Social Security benefit as an integral part of a retirement plan tailored to the individual client.
“Retirees can make a variety of costly mistakes when it comes to optimising their retirement readiness, such as drawing from Social Security too early. Many advisors lack the proper tools to guide their clients on utilising Social Security benefits, or discuss Social Security issues as part of their overall retirement strategy,” says Sophie Louvel Schmitt, senior analyst for Aite Group’s Wealth Management practice. “Optimisation tools will become instrumental in educating clients on the importance of following a well-planned and personalised strategy.”
Scott Parry, EVP & general manager – advisory and investment services, SunGard’s wealth & retirement, says: “Social Security is just one aspect of a complete retirement plan. This is why it’s important that tools for analysing Social Security decisions are integrated into the overall retirement planning process that also includes 401(k) and pension plans as well as other retirement accounts and assets. WealthStation Social Security Optimizer helps advisors provide real value on how to optimise the use of Social Security in a client’s overall retirement plan.”

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