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.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
