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Retirement Planning > Retirement Investing

USAA Picks AdviceAmerica Technology for Veterans’ Retirement Plans

By Joyce Hanson

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NEW YORK — As the nation observed Veterans Day on Thursday, USAA, the banking and insurance services provider that caters to U.S. military personnel around the globe, announced that it would do more to help veterans by offering them a new online retirement savings and distribution tool.

San Antonio-based USAA selected AdviceAmerica technology to help members evaluate their existing portfolios and reach their personal retirement goals. USAA will use AdviceAmerica’s forecasting models, cash flow and advice engine technologies along with its proprietary portfolio allocation and investment product recommendations.

In a sign that technology integration is a key to advisor success, Fiserv Inc. acquired AdviceAmerica’s technology services in June. USAA members can access AdviceAmerica’s solutions from remote locations while using their computers and smartphones.

“Teaming up with Fiserv will allow us to offer easy-to-use, interactive financial planning tools that members can use anywhere, anytime,” said Dan McNamara (left), president of USAA Investment Management Co. and Financial Planning, in a statement.

Speaking at a Fiserv-sponsored lunch in Times Square during the Nov. 11-12 Money Management Institute Fall Solutions Conference, McNamara noted that although USAA’s membership base is “extremely conservative,” it is also a far-flung membership whose younger members are such devoted Internet users that they have made USAA’s Facebook page the most widely visited page of any financial services company.

Cheryl Nash, senior vice president of strategic marketing and business development for Fiserv’s Investment Services, introduced McNamara at the lunch. She noted that USAA can use Fiserv/AdviceAmerica’s customizable financial-planning technology while remaining on its existing platform.

 “What we tell our members is that retirement isn’t a destination, it’s a lifelong journey,” McNamara said.

Read about USAA’s sale of mutual funds on E*Trade at AdvisorOne.com.

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