MLC has announced the release of its MLC MasterKey Investment Protection Simulator, which it says will help advisers prepare clients for retirement.
The online tool allows advisers to plug in details to simulate how a client’s nest egg will fare in both upside and downside markets.
It will factor in superannuation contributions and retirement goals, and advisers can add in market shocks to help stress test clients’ retirement savings or income under different scenarios, MLC stated.
“Our new tool gives a visual representation to clients of exactly what retirement risks can do to their life savings,” said MLC retirement solutions general manager Andrew Barnett.
“Advisers know retirement outcomes can vary significantly due to risks such as longevity risk, sequence risk, market risk and timing risk. However, it’s often hard to clearly describe this to clients in a way that also demonstrates the importance of setting retirement strategies including risk mitigation,” he said.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 23 Jan 2019Adelaide adviser permanently banned from industryBy Eliot Hastie
- 23 Jan 2019Bowen slams ‘woeful’ handling of royal commissionBy James Mitchell
- 23 Jan 2019Gender super gap lower but still at 34%By Adrian Flores
- 22 Jan 2019Advice issues stem from writing of SOAs, says RafteryBy Adrian Flores
- 21 Jan 2019Federal Court winds up CFS Private WealthBy Eliot Hastie
- 22 Jan 20192.44m Aussies suffer from financial stressBy Sarah Simpkins
- view all