MyVest, a prominent provider of enterprise wealth management technology to deliver personalized, tax-efficient retirement income solutions through a new collaboration.
In a statement Thursday, the firm said its newly forged integration partnership with Income Discovery, a leading retirement income platform, aims to bridge the gap between retirement planning and execution.
The partnership will integrate MyVest’s Strategic Portfolio System and Income Discovery’s Paycheck solution to provide a more cohesive approach to retirement income management.
“The industry is at a crucial juncture where the need to operationalize and scale retirement income has never been more important,” said Manish Malhotra, CEO of Income Discovery.
Going from retirement planning to implementation is easier said than done, Malhotra said, as advisors and their clients have to strike the right balance of “generating retirement income from their accounts while mitigating the risk of outliving their resources.”
With the integration, advisors will a comprehensive view of clients' household finances, allowing for tax-optimized withdrawal recommendations and efficient trade order generation. Advisors will be able to execute these recommendations in bulk across their client base if needed, enhancing operational efficiency.
A key feature of this collaboration is the bi-directional data connection, which enables advisors to monitor and manage retirement plans effectively, ensuring they remain adaptable to changing circumstances.
The partnership speaks to an important and increasingly urgent need for retirement income planning in the US, where the number of retirees is currently following a parabolic growth path to reach an estimated 72 million by 2030.
Anton Honikman, CEO of MyVest, highlighted the partnership as “the first step in a roadmap designed to move retirement income from planning to action.”
“By leveraging our complementary strengths in tax-managed personalization, we are bringing retirement income to life and providing firms with the opportunity to differentiate their practices,” he said.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
