Cetera Financial Group is rolling out a tool that advisors and clients can use to map out lifetime income “in five clicks of a button,” according to the company. It strategies include guaranteed fixed annuities and asset management from Allianz and Capital Group, respectively.
“The boomer generation in the U.S. continues to be largely unprepared for retirement: unrealistic in their expectations, and under-saved, with only 55% having any money saved for retirement at all,” Cetera President Adam Antoniades said in a statement.
“Those that feel most prepared have received professional advice and guidance and have included annuities in their overall retirement plan,” he explained.
Jacqueline Hunt, a member of Allianz’s board, said, the launch of SetIncome “represents the strength of collaboration not just within the Allianz family – across Allianz Global Investors, Allianz Life, and PIMCO – but also with industry leaders like Cetera and Capital Group,” according to a statement.
The firms, Hunt added, came together to “create better retirement outcomes and fill a critical gap in the marketplace, effectively disrupting the retirement income landscape.”