BIS will also gain the financial planning features of SunGardâs Retirement Income Simulation Expert (RISE), which offers risk management and what/if scenario simulation modeling to help ensure that advisors can provide clients with alternative solutions for attaining their retirement income goals, a common shortfall or need for many retirees.
RISE will help Beneficialâs advisors to simply and accurately assist clients in analyzing their retirement income by evaluating, comparing and illustrating income goal probabilities, the risk inherent in various planning scenarios, and the ways in which annuities affect the risk of those scenarios.
âAs a retail broker-dealer with strong ties to the insurance industry and aggressive growth objectives, we sought a wealth management platform that would easily integrate multiple aspects of the business,â said Charles Funke, chairman, president and chief executive officer at Beneficial Investment Services. âWealthStation provides us with a single Web-based platform with a workflow and format that helps make communicating with the client simple and seamless, from the moment the advisor sits down with the client to gather information, to the clean and comprehensible financial plans we generate for the client.â
BISâs registered reps and investment advisors use WealthStation as the firmâs official, corporate-adopted financial planning tool, having successfully âtest-marketedâ the system with a large sampling of the firmâs reps and advisors. WealthStation also extends the opportunity for Beneficialâs insurance agents to cross-sell financial planning services with insurance products.
âWealthStation offers a comprehensive set of modules providing functionality for advisors of various skill and experience levels, and the flexibility to target any point of the planning process, making the platform ideal for use across the organization,â said Mr. Funke. âSunGard is a company with which we can grow to help us cross-sell and provide a higher level of service along the client service continuum with its WealthStation solution.â