John Hancock Funds LLC, Boston, has enhanced its Web-based Portfolio Insight tool for financial advisers. Launched in mid-2009, the tool lets advisors do a comparative analysis of clients’ portfolio holdings, including 8,000 open-end mutual funds, as well as commodity and index exchange-traded funds, in a side by side format.
The tool offers a portfolio snapshot summary, along with performance analysis for the portfolio and each fund. The tool also boats portfolio analysis by sector and style, plus information on stock overlap among all holdings. Also available are economic and portfolio manager commentaries.
John Hancock says it that a print and electronic marketing campaign in support of the new features is planned for launch in October.
Separately, John Hancock Financial Network, Boston, has announced plans to launch Retirement Ready, a retirement income program to help JHFN financial professionals and advisors maximize sustainable retirement income for their clients and potentially minimize the risks clients face.
The program, which awaits FINRA approval, features an allocation tool (RSQ Analyzer) that determines clients’ optimal product mix and provides a quantitative measurement of the relative likelihood their portfolio will generate the income they desire for the rest of their lives.
The program also offers multi-media educational and training materials, an expense calculator, worksheets, promotional literature, and opportunities for advisors to create personalized client reports.
JHFN says it will be holding a series of training sessions covering the program for its network of independent firms in a variety of locations in October and November including Boston, San Francisco, Newark, Washington, D.C., Detroit and Orlando.
Liberty Mutual Insurance Co., Boston, is introducing Freedom Series Builder Annuity, a single premium fixed deferred annuity. Policyholders may choose from among three modules, including:
(1) Extra Access, which lets policyholders withdraw a larger percentage of their account (10% annually), free of withdrawal charges, than the base version of the Builder allows. In addition, owners are guaranteed a return of their original premium should they need to surrender the policy.
(2) Extra Care and Protection, which offers access to account values to help cover expenses in the event of a serious illness. The module lets policyholders make withdrawals or surrender their policies, free of withdrawal charge, should they or their spouses become ill and require a qualifying medical stay; are diagnosed as terminally ill; or become unable to perform two of six daily living activities.
(3) Extra Assurance, which lets owners withdraw any or all of their account value, free of withdrawal charge, should the annuity’s declared interest rate drop below the minimum threshold determined at the time of purchase.
Mutual of Omaha Insurance Co., Omaha, Neb., has released a new version of its Third Party Administrator program, which allows affiliated TPAs to customize retirement plan recordkeeping and administration. The company says the program helps further integrate its retirement plans product within a TPA’s business to offer plans access to diversified investment options, personalized customer service and a three-tiered approach to fiduciary support.
The program’s services and processes are set up on a plan-level basis according to the specifications of the TPA, along with the help from Mutual of Omaha support teams.