Taxes are the linchpin to successful wealth accumulation and retirement income planning. The founders of LifeYield knew that. Now the financial industry is on board.
LifeYield is where leaders from the largest financial services firms in the world turn for technology solutions that implement and coordinate tax-efficient investing, and tax-smart retirement income planning, including optimizing Social Security benefits.
These solutions are all accessible via application programming interfaces (API), and include a multi-account UMA overlay, asset location, multi-account rebalancing, tax-smart withdrawals, tax harvesting, Social Security optimization, and comprehensive retirement income decumulation.
How LifeYield Began
The idea for LifeYield goes back to years of collaboration between Paul R. Samuelson, co-founder and chief investment officer, and his father, Nobel Prize laureate Paul A. Samuelson.
With their long-running understanding of the fundamental importance of minimizing investment taxes, they advised family and friends on how to enjoy investment success. They realized, however, that investors and advisors could not build and manage tax-smart portfolios without sophisticated technology.
Paul R. Samuelson teamed up with another longtime collaborators, Mark Hoffman and Michael Benedek to found LifeYield in 2008. Hoffman, Samuelson and Benedek recognized that by developing tax-smart APIs, LifeYield could catapult investors, advisors and firms into the future.
LifeYield is guided by its deep understanding that:
- Taxes, more than any other factor, have an outsized effect on outcomes for investors and, ultimately, their financial security in retirement.
- Achieving “tax alpha” requires applying time-tested (but often ignored) practices across all the accounts and holdings in household portfolios.
- The future of financial advice sits at the confluence of digital tools and human advice. One alone is not enough. The two together – make all the difference.
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With LifeYield, financial firms incorporate one or more tax-smart or Social Security-optimizing APIs into their proprietary comprehensive advice platforms. LifeYield technology measures the tax efficiency of a portfolio and suggests the next best actions in sequence for the advisor and client to take to improve after-tax returns.
The LifeYield Technology Library includes:
The Proof is in the Numbers
Today, no other software-as-service solution is as all-encompassing or as successful as LifeYield in creating more wealth through reduced tax exposure for investors. An independent analysis by EY found that LifeYield tax efficiency APIs:
- Produced up to 33% more income from assets
- Reduced taxes overall by as much as 45%
- Increased bequests by as much as 45%
…when applied to a household with $1 million in assets at age 50 with plans to retire at 65.
LifeYield technology is the choice of the most well-regarded names in the industry, including Morgan Stanley, Franklin Templeton, Envestnet, Merrill, Allianz Life, Orion, Northwestern Mutual, Personal Capital, New York Life, SEI, Jackson National, and many others.
Through integrations with those firms’ platforms, LifeYield helps millions of investors, advisors and firms increase the tax efficiency of their products, programs and services, and enables advisors to prepare clients for more secure retirements.
Jack Sharry, LifeYield’s chief growth officer, hosts the popular weekly podcast, WealthTech on Deck. His guests are leaders from the financial services industry sharing their visions, strategies, and plans for the future of financial advice.