BOSTON, June 22, 2017 /PRNewswire/ -- "Invest 20-minutes to learn how to turn your retirement savings into lifetime, inflation-adjusted income." That's all that licensed bank employees (LBEs) are required to say to bank customers to ignite an educational process that leads to both customer demand for a personalized retirement income plan and a consolidation of customers' investment assets by bank channel financial advisors. With the introduction of HumanRobo®, Wealth2k has revolutionized the process of generating LBE referrals.
"Licensed bankers are busy people who balance multiple responsibilities and shifting priorities. That's why Wealth2k created a digital platform that makes it easier for bankers to ultimately connect bank customers with financial advisors who can help them tailor personalized plans for turning retirement savings into retirement income," according to Wealth2k CEO, David Macchia.
HumanRobo® provides a 20-minute educational engagement that teaches bank customers about retirement income distribution planning. Customers learn key insights including:
- Why it's often advantageous to time-segment retirement assets
- Why adding a "floor" of lifetime, guaranteed income can help mitigate some of the biggest financial risks that threaten to devastate retirement security
- An explanation of Timing Risksm, Inflation Risk and Longevity Risk, and how a well-designed income plan can reduce these risks
"Bank broker-dealers have a huge stake in retirement income," said Macchia. "In a post-DOL marketplace, achieving consistent customer outcomes through a consumer-focused process for income planning is the key to driving revenue growth while also reducing financial liability potential. The customer need is there. What's been missing is the process to address the need and the means to properly promote the process. HumanRobo changes all of that. Everyone should understand that retirement income is THE 'expand-the-pie' business opportunity of this era. The time to act on it is now."
DOL didn't arrive in a vacuum. It was published at a moment when fintech was rapidly advancing. Where DOL and fintech merge, commoditization of advice, or products, and of advisors themselves is ignited. Getting it right in retirement income is the most effective strategy for bank programs to mitigate the worst effects of commoditization. Helping bankers generate many more leads for financial advisors is the critical first step in igniting revenue growth in 2017 and beyond.
Wealth2k is the leading provider of enterprise retirement income solutions. It's asset-gathering platforms, including The Income for Life Model® help firms capitalize on the high-stakes business opportunity for retirement income distribution planning. Visit Wealth2k at www.wealth2k.com or follow us on Twitter: @W2KINC
CONTACT: David Macchia at (718) 222-3038
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