Osaic, one of many largest impartial dealer/vendor networks, has rolled out enhanced variations of its NextPhase Professional and NextPhase Plus retirement revenue planning instruments, with assist from IncomeConductor.
The NextPhase platform calculates easy-to-read, customized retirement revenue plans which might be based mostly on easy inputs gathered from finish purchasers by their advisors.
Sometimes called decumulation or distribution-phase planning, figuring out one of the best course of for every particular person or couple to spend down property in retirement is a fancy drawback that takes many elements under consideration.
Advisors should carry out money circulate evaluation, assist purchasers resolve when and in what order to say Social Safety, analyze well being care prices, and resolve whether or not they will afford to go away a legacy for his or her household, amongst many different issues.
In accordance with Osaic, roughly 600 advisors at the moment use NextPhase Unique with their purchasers, and greater than $4 billion in retirement property are deliberate via the platform annually.
With the Plus model, advisors have entry to extra superior options, together with Social Safety optimization and alerts on mitigating dangers for his or her purchasers, along with the automated retirement revenue plan calculations within the unique platform.
The NextPhase Professional model supplies a tax overlay, required minimal distribution projections, Roth conversion modeling and customized healthcare price projections along with the options present in NextPhase and NextPhase Plus. It could additionally calculate income-related month-to-month adjusted surcharges to Medicare premiums.
The software program has been up to date in partnership with the builders of IncomeConductor software program, who spent roughly six months with the Osaic crew constructing customizations to each the advisor-facing know-how platform and the assorted experiences generated for finish purchasers.
The earliest variations of NextPhase Unique had been based mostly on processes and know-how IncomeConductor co-founder Phil Lubinski developed within the early 2000s, which used his time-segmented strategy to distributing revenue in retirement.
“The IncomeConductor crew spent numerous hours coaching the Osaic Retirement Earnings Consulting crew on the know-how,” mentioned Kristen Kimmell, govt vice chairman of enterprise growth at Osaic.
“We’re very excited to associate with Osaic, a b/d that has a deep understanding of the time-segmented technique, a dedication to the success of their advisors and a imaginative and prescient for capturing the lion’s share of the retirement revenue market,” wrote Sheryl O’Connor, CEO of WealthConductor LLC (the corporate behind IncomeConductor) in an e-mail.
IncomeConductor gained a WealthManagement.com Business Award for finest retirement revenue know-how supplier in 2023.
