(Editor’s Note: This is part one of a two-part series; part two appears Wednesday, June 23, online.)
Eight hours of Web-cast coaching should help Securities America’s 1,900 independent advisors put five to 10 clients on the road to comfortable retirement income.
This is the independent broker-dealer’s goal as it launches a new retirement income-distribution coaching program on Thursday, July 8. It introduced the program at its annual conference held in Huntington Beach, Calif., earlier this month.
Securities America, part of Ameriprise Financial, says it uses a laddered time-segmented distribution strategy that pinpoints different types of investments, each best suited to progressive segments of clients’ retirement years.
“We’ve done a lot of research on the time-segmented strategy and are confident in it,” says Zachary S. Parker, who is responsible for SA’s annuity and insurance business lines, and income distribution planning.
“All the data lead to its being better than a systematic withdrawal program. But we’ve found that advisors have a hard time implementing the strategy;” thus the coaching program, explains Parker.
The $499 series of eight weekly web conference calls will be limited to 12 advisors per session. Each hour-long Web-cast, enhanced by PowerPoint presentations, will be run by one or more SA subject-matter experts. The group education and discussions are to be supplemented by individualized coaching.