SunGard Launches Tool to Help Financial Advisors Optimize Social Security Benefits for their Clients

16 December 2014

SunGard has launched a new social security optimization tool that helps financial advisors guide their clients on the ideal time to file for Social Security benefits, helping them make one of the most important decisions affecting their overall retirement cash flow. SunGard’s WealthStation Social Security Optimizer calculates estimated Social Security benefits, analyzes all possible ages to start receiving benefits, and identifies the optimal benefit under a variety of conditions and scenarios.

SunGard’s WealthStation Social Security Optimizer integrates with other WealthStation modules that analyze Social Security and other retirement income concerns, helping the advisor to use the optimized Social Security benefit as an integral part of a retirement plan tailored to the individual client.

“Retirees can make a variety of costly mistakes when it comes to optimizing their retirement readiness, such as drawing from Social Security too early. Many advisors lack the proper tools to guide their clients on utilizing Social Security benefits, or discuss Social Security issues as part of their overall retirement strategy. Optimization tools will become instrumental in educating clients on the importance of following a well-planned and personalized strategy.” – Sophie Louvel Schmitt, senior analyst for Aite Group’s Wealth Management practice.

“Social Security is just one aspect of a complete retirement plan. This is why it’s important that tools for analyzing Social Security decisions are integrated into the overall retirement planning process that also includes 401(k) and pension plans as well as other retirement accounts and assets. WealthStation Social Security Optimizer helps advisors provide real value on how to optimize the use of Social Security in a client’s overall retirement plan.” – Scott Parry, EVP & general manager - advisory and investment services, SunGard’s wealth & retirement administration business.

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