This article was originally posted on Yahoo Finance on May 11th, 2018.
VALIC, an AIG company and a leading retirement plan provider for Healthcare, K-12, Higher Education, Government and other not-for-profit institutions, has partnered with RetireUp, a retirement planning software for financial advisors, to launch Retirement Pathfinder®. This dynamic, innovative retirement planning tool enables VALIC’s financial advisors to provide clear, easy to understand scenarios designed to educate and inform clients through a variety of models. Since launching the software last year, VALIC financial advisors have created over 44,000 personal retirement income financial plans.
“For 60 years we have focused on the success of our clients and we are always looking for opportunities to better serve them. That’s why we partnered with RetireUp to introduce Retirement Pathfinder,” said Rob Scheinerman, President, Group Retirement, AIG Life & Retirement. “What’s especially unique about Retirement Pathfinder is that it allows a client to sit down with an advisor and map out the future they envision. Every decision plays out on screen and clients can change scenarios and see updated financial figures and really understand the impact of their future decisions today. That is powerful. Retirement Pathfinder closes the gap between retirement dreams and reality and gets us closer to achieving our vision that every American deserves a fulfilling retirement.”
The web-based portal breaks down complex financial matters and simplifies them through informative graphics, educational materials and more. While most advisors rely on static questionnaires to better understand clients’ specific income needs, Retirement Pathfinder is dynamic and boasts software that allows for ad-hoc changes and a host of different scenarios. Complex data is analyzed quickly, allowing clients to understand the entire retirement picture and then use tools and take steps to address personal needs.
Perhaps most important is the tool’s ability to determine a client’s essential lifestyle needs, discretionary lifestyle needs and the remaining income gap. Advisors can then create valuable, personal financial plans for their clients that offer valuable advice, education and investment options. Retirement Pathfinder explains a variety of investment options, including annuities, in clear, simple terms.
“VALIC has moved the needle in the industry with the introduction of Retirement Pathfinder,” noted RetireUp President Michael Roth. “We’re proud to have worked with VALIC to develop a solution that helps its advisors educate and engage clients with a collaborative planning process that quickly and easily solves for their financial needs.”
Since launching the tool in March of 2017, Retirement Pathfinder has proven to be a strong complement to VALIC’s comprehensive, fully holistic financial planning tool – VALIC’s Financial 360.
“We have made significant investments in all aspects of our business, from technology and operations to products and talent,” noted Shawn Duffy, President, VALIC Financial Advisors. “We will continue to innovate and deliver to allow our advisors to provide valuable products and solutions to plan sponsors and their participants.”
Based in Libertyville Illinois, RetireUp is a leading provider of integrated retirement income planning solutions designed to strengthen the client-advisor relationship. By presenting complex concepts as easily understood numbers and graphics, RetireUp technology platforms quickly engage clients and transform them into enthusiastic participants in the planning process. With powerful tools, actuarial-level product modeling, data integration and an automated forms system, RetireUp facilitates more meaningful client-advisor conversations and faster, better solutions, while streamlining the entire planning process. For more information, go to www.retireup.com.
For more than half a century, VALIC, an AIG company, has served as a leading retirement plan provider for Healthcare, K-12, Higher Education, Government and other not-for-profit institutions. VALIC has more than $100 billion in total assets under management as of December 31, 2017, and manages plans for nearly 23,000 groups serving approximately 1.8 million participants. VALIC represents The Variable Annuity Life Insurance Company and its subsidiaries, VALIC Financial Advisors, Inc. and VALIC Retirement Services Company. Additional information about VALIC can be found at www.valic.com.