IncomeConductor, the wealth management technology provider, has announced enhancements to its platform aimed at helping advisors build tax-savvy strategies around both existing annuity contracts and potential future purchases.
The platform now allows users to simulate future annuity purchases and compare multiple product options within complete client income strategies. Likewise, it aids in the modeling of lifetime income streams, period-certain guarantees and rider-based income options.
Other key features allow advisors and clients to assign cost-of-living adjustments to any income stream, project growth rates specific to each annuity contract and incorporate critical information about required minimum distributions.
“Annuities are a powerful income tool, but too often they've been modeled simplistically as static guarantees, not dynamic income streams," Sheryl O'Connor, CEO and founder of IncomeConductor, said in a statement. "With this release, advisors can plan with precision, confidence, and complete integration, all within the IncomeConductor platform."
As O’Connor noted, the platform now models taxation of non-qualified annuity income using either withdrawal rates or exclusion ratio methods, depending on the contract type. For qualified annuities held in individual retirement accounts, the platform incorporates contract balances into RMD calculations and tracks how annuity payouts apply toward annual RMD obligations.
While some platforms focus on head-to-head annuity evaluation, O’Connor said, IncomeConductor is built around actual advisor workflows, connecting annuity modeling directly to tax planning, RMD tracking and comprehensive client reporting.
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