BlackRock has launched a new platform aimed at helping advisors close the retirement income gap. According to a Nov. 2 announcement from the firm, the new iRetire™ platform reframes the retirement challenge by providing financial advisors with tools and resources to let investors see where they stand when it comes to the number that really matters – annual income over all the years of retirement – and take action to get on track.
The platform draws on proprietary BlackRock technology and support, including methodology that powers the firm's innovative series of retirement income indexes, CoRI™, and the powerful risk analytics of Aladdin® to show investors where they stand today and how they could potentially get where they want to be at retirement.
Advisors using iRetire start the conversation by inputting the client’s age, current retirement savings and desired annual retirement income. Within seconds clients will see an estimate of how much their current savings could provide each year in retirement. Advisors can then adjust a number of levers – retirement age, savings and portfolio risk – to demonstrate immediately how actions such as saving more or working longer could help close a client’s retirement income gap.
Based on the client’s input, an advisor can use iRetire to offer a range of potential portfolios designed for effective allocation of retirement assets, either to help close a prospective income gap or to stay on track toward a retirement income goal.
For more on BlackRock’s value-adds for advisors, visit their NAPA Firm Partner page.
