An Oppenheimer news release said its Retirement Income Manager, which is offered free to advisors, evaluates an investor’s estimated basic and incremental lifestyle needs and considers critical factors that affect the pursuit of retirement income objectives. Those factors include market volatility, health, tax situations, investor risk preferences, inflation and changing income needs over time.
The company said the program uses this data to generate 2,000 hypothetical Monte Carlo simulations and offers action steps to improve the client’s position in pursuing savings and investment objectives for retirement.
According to the news release, the new offering uses Monte Carlo simulations to provide different scenarios and uses statistical probabilities to project the likelihood of meeting a client’s stated objectives based on current investments. Oppenheimer said the advisor and client can then formulate an action plan to try to improve the chances of meeting the client’s objectives by, for example, re-allocating assets, delaying retirement, earning supplemental income, adjusting spending or taking social security benefits later.
More information is at www.oppenheimerfunds.com .