Nationwide Financial said its online preVIEW tool allows the inputting of data such as current investment amounts, age, planned retirement age, projected rate of return and distribution strategy, so that the advisors can help clients understand their potential financial situation at retirement.
Clients can then view annuitization and systematic withdrawal distribution strategies based on their projected investments. If the calculated investment amount results in a shortfall when distributed as monthly income, the advisor can work backward and display what modifications can be made to help fill in the gap, according to a Nationwide news release.
“Investing for retirement is only half of the retirement financial equation,” said Richard Karas, president of Nationwide Financial Services Distributors, Inc., in the announcement. “Investment professionals should be enabled with answers to the complete equation, which includes calculating accumulation and distribution needs. This tool can help producers develop personal defined benefit plans for their clients.”
The tool is located on the company’s Sales and Service Center Web site www.bestofamerica.com .
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