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
- 26 May 2017IOOF breakaway group sets up AFSLBy Aleks Vickovich
- 26 May 2017Midwinter launches new calculator for advisersBy Staff Reporter
- 26 May 2017IOOF announces new online trading functionalityBy Staff Reporter
- 26 May 2017Australia beats global average for financial literacyBy Staff Reporter
- 25 May 2017AMP looks to salaried channel for revenueBy Aleks Vickovich and Larissa Waterson
- 25 May 2017ASIC commissioner reappointedBy Staff Reporter
- view all