Retirement Income Manager, launched in June 2005, uses data on market volatility, client health, client tax situations, investor risk preferences, inflation and changing income needs over time to generate 2,000 hypothetical Monte Carlo simulations and offer action steps to improve the client’s position in pursuing savings and investment objectives for retirement (See Oppenheimer Introduces Advisor-Based Wealth Mgt. Tool ).
Oppenheimer said the enhancements include:
- The ability to model pre-retirement savings up to 10 years before the individual’s stated retirement date.
- Custom Advisor Portfolios: Advisers can now create their own portfolios or modify Oppenheimer’s portfolios.
- The ability to model reverse mortgages and sales of other homes to create income. Advisers can model a client’s retirement with and without reliance on the investor’s home equity.
- New Asset Classes: REITs and Commodities. Advisers selling Oppenheimer’s Real Estate fund and Real Asset fund can now accurately model them in Retirement Income Manager.
- Dynamic Order of spending: Spending assets has different tax-implications depending on what type of plan of vehicle they are held in. Changing the order of spending can accelerate or defer payment of taxes which could impact the ability to generate income
- Compare Plans Feature: This feature enables advisers to compare the impact of multiple scenarios for the client and show the impact of changing certain assumptions in the model.
- Improved Client Report with easier to understand charts and clearer graphics.
Retirement Income Manager can assess the probability that an investor will need to work longer, scale back on lifestyle expectations or generate more income based upon their retirement goals, and the new enhancements allow financial advisers to provide even more customized scenarios for clients, the announcement said.
For more information, visit www.oppenheimerfunds.com .
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