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LifeYield Upgrades Tools for Advisors and Enterprise Clients to Command Greater Wallet Share and New Business

By LifeYield | December 10, 2020 | News

Householding tech leader expands API support for complex accounts alongside improved advisor reporting and annuity analysis

BOSTON – December 10, 2020LifeYield LLC today announces several software updates for its enterprise and direct to advisor clients to aid in quantifying and improving investor outcomes for investor household portfolios, and advisor practice management effectiveness and efficiency.

LifeYield’s API library, which serves the largest wealth management platforms in the world, has enhanced its multi-account and product overlay capabilities at client firms to guide action based on a bird’s eye view of an investor’s household portfolio. These enhancements make it easy for LifeYield’s enterprise partners to coordinate multiple, complex accounts and trading systems to create improved investor outcomes where client financial benefits can be quantified in dollars and cents.

For advisor clients, LifeYield has made many upgrades to its LifeYield Advantage Suite® to help advisors engage website visitors, win new business and earn greater wallet share by showcasing improved after-tax returns and income.

Greater Enterprise Support For Complex Households

Comprehensive Household Management, or Householding, is the concept at the core of LifeYield’s offering where data is aggregated and coordinated across the entire household of client accounts to improve investor and advisor outcomes. Householding enables long-term asset allocation and tax-smart asset location to be optimized, as the portfolio is managed and rebalanced across all accounts over time. The objective is to maximize retirement income during the accumulation, ongoing management and drawdown phases of a client’s life.

LifeYield’s updated API catalog of overlay capabilities gives enterprise partners the flexibility to coordinate and optimize the tax efficiency of multiple accounts, no matter how complex. LifeYield’s partners can easily apply LifeYield’s householding technology to investor accounts requiring a mixture of order management systems, whether they are managed, models, or traded with discretion. The API updates also make it easier for enterprise partners to further enhance retirement income through tax-smart, multi-account withdrawals from taxable, tax-free and tax-deferred accounts.

“Our enterprise partners can now offer a household portfolio management ecosystem producing better results for investors and advisors. Our enhanced API capabilities give them greater freedom to use our tax efficiency software in a way that improves the user experience, and in dealing with existing trading technology. Most importantly, the enhancements help quantify the financial benefits while showing the client how to achieve those improvements on a step by step basis. This, in turn, produces better outcomes for the advisor,” said Steve Zuschin, executive vice president, Advisor Success.

LifeYield Advantage Suite® Enhancements For Advisors

LifeYield’s Advantage Suite® serves independent advisors and RIAs. New upgrades have transformed LifeYield’s cloud-based, household management solution by upgrading the analysis and reporting capabilities of its software and by offering tools to grow an advisor’s book of business.

Expanded Annuity Analysis

LifeYield’s updates reveal new opportunities to enhance investors’ retirement income and start important conversations about financial goals. LifeYield can now measure the dollars-and-cents benefits and tax implications of any annuity vehicle as it is incorporated into a household portfolio, showing how annuities could improve a client’s after-tax rate of return and the overall household portfolio tax efficiency.

Modern annuities are designed to work best as part of a household’s portfolio to meet retirement income needs. LifeYield’s technology paves the way for a simple, transparent dialogue about how to coordinate investment and annuity vehicles to aid clients in reaching their goals. This new feature helps determine how much of the client’s assets should be moved into an annuity, and the financial benefits of the decision.

Placing the Advisor’s Value Front and Center

Many clients hold assets with different advisors and custodians, such as in 401(k)s, bank accounts, and other external accounts. Upgrades to LifeYield’s analysis and reporting can help the advisor provide guidance on the investor’s overall tax efficiency, while enhancing the advisor’s ability to grow their business.

LifeYield now considers held away accounts and shows the client how those assets would benefit from coordinated, household-level tax optimization. When considering an IRA rollover, this creates a direct, potent appeal for investors to consolidate with a LifeYield user, as they can immediately see a projection of the extra potential retirement income they would realize as a result of the consolidation.

Additional new outputs include a Proposal report to show prospects the benefits of tax optimization; a direct Client Review report to illustrate an investor’s asset allocation and progress; and a more intuitive Social Security report, designed to display benefits and drive action.

Reporting enhancements coincide with new, website-ready widgets, as digital prospecting efforts become a top priority for growing advisory firms. Advisors can immediately show the bottom-line value they can add to an investor’s retirement income.

These digital marketing tools are now available for LifeYield partners to embed into their websites to convert web traffic.

One calculator computes an estimate of extra income that could be earned through optimizing for asset location. Another calculator estimates the added retirement income clients and prospects could receive by working with an advisor using LifeYield’s Social Security Advantage® optimizer.

“Householding technology has taken on new relevance this year as a way for advisors to maximize the value of the things under their complete control, such as cost, risk, tax efficiency and how to maximize their Social Security benefits,” Zuschin said. “With these enhancements, advisors can easily show prospects what they can accomplish together and explore a greater range of retirement income solutions and their quantified impact on client portfolios.”

To learn more about the latest updates to LifeYield’s technology, click here.

Read the full Press Release via Business Wire here.

About LifeYield

LifeYield, the financial services leader in household-level management, helps advisors maximize retirement income for clients. From accumulation through withdrawal, the LifeYield Advantage Suite® uses the industry-leading Taxficient Score® to illustrate tax efficiency and improve asset location across IRAs, 401(k)s and taxable accounts to boost client returns. Its intuitive Social Security Advantage® software helps over 80,000 advisors plan optimal retirement income strategies and filing benefits for clients as they approach retirement. LifeYield’s software is integrated with the largest wealth management, RIA, insurance, asset management and fintech providers. For more information, please visit www.lifeyield.com and follow the company at @lifeyield.