ING Financial Partners, the broker dealer of ING U.S., has developed a new practice management program designed to help financial advisors address lifetime income planning needs of their near-retirement clients.
The program, announced today, is available to more than 1,400 financial advisors in the ING Financial Partners network.
At the heart of a clients financial plan -- especially one who is on the cusp of retirement -- should be a strategy for turning some or all of their nest egg into a steady stream of income that is able to last a lifetime, said Karl Lindberg, president of ING Financial Partners, in a press release.
The new practice management program includes retirement seminars, educational materials with action plans, online tools and a structured framework that financial advisors can follow with their clients, the company said in a press release.
The scripted, 20-minute seminars address topics such as health care, longevity risk, budgeting, lifetime income and financial risks. They are organized into modules that offer flexibility and enable customization for each audiences needs, the company said. The program also provides a step-by-step resource guide for financial advisors and detailed training sessions, along with tips on how to identify the clients who will benefit from a retirement income conversation. The company said that the retirement income program can help advisors grow their business by expanding existing client relationships and building new ones.
Retirement income planning has moved into a new and more complex dimension in recent years, with a whole new reality for todays retirees, said Marcia Mantell, president of Mantell Retirement Consulting, and consultant who worked with ING on the program.
Retirement income continues to gain attention as more baby boomers face the notion of outliving their money. A study by the ING Retirement Research Institute found that 86% of consumers say they need help determining how long their savings will last in retirement.
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