Wachovia to bow retirement income account

Wachovia Securities LLC is launching a pilot version of a retirement income management account, Robert Vorlop, director of investment products, told attendees of the Money Management Institute's annual meeting in Washington.
MAY 03, 2007
By  Bloomberg
Wachovia Securities LLC is launching a pilot version of a retirement income management account, Robert Vorlop, director of investment products, told attendees of the Money Management Institute's annual meeting in Washington. The new account -- to debut in three weeks -- from the Richmond, Va.-based unit of Wachovia Corp. will aggregate an investor’s banking, securities and fund holdings whether at Wachovia or other providers. It will also automatically categorize the investor’s spending history and “give investors a simple way to understand their income needs over one, three and several months into the future,” said Mr. Vorlop, today. “Research has shown that, at retirement, clients are looking to take a fresh look at their financial services provider,” he said. “We’re making a big bet on that,” he added. Wachovia plans to introduce the account broadly in the fall, Mr. Vorlop said.

Latest News

SEC Says Game Service Roblox Part of ‘Active Investigation’
SEC Says Game Service Roblox Part of ‘Active Investigation’

Short sellers previously said the company was under investigation, though Roblox denied allegations.

Musk’s DOGE descends on CFPB with intention to shut it down
Musk’s DOGE descends on CFPB with intention to shut it down

The Consumer Financial Protection Bureau is in the crosshairs of the Republican group that is widely attempting to dismantle government agencies.

Advisor fighting Finra banishment loses $17.7 million dispute with old firm
Advisor fighting Finra banishment loses $17.7 million dispute with old firm

National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.

Job numbers, inflation leaving room for Fed to hold rates
Job numbers, inflation leaving room for Fed to hold rates

Recent data support a measured pace by the Federal Reserve for the year ahead.

Private assets remain hot despite surging stock market
Private assets remain hot despite surging stock market

Financial advisors are still adding alternatives despite the surge in publicly traded stock prices

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.