What Is IFLM?
The Income for Life Model (IFLM) is an integrated system that financial advisors use to market, illustrate and monitor outcome-focused retirement income strategies. It provides the vital, year-by-year income distribution roadmap that builds investor confidence and leads to retirement asset capture.
IFLM also enhances advisor-to-client communications through the use of interactive educational presentations, cutting-edge websites, and movies. The system is hosted and managed on a platform that makes it easy for broker-dealers to ensure that advisors are compliant with disclosure requirements and business rules.
Visit official site www.incomeforlifemodel.com
Satisfying the needs and objectives of today's retirees is a lot easier when you have the tools it takes to create flexible, outcome-focused retirement income strategies. For example, investors increasingly crave outcomes that are predictable. Advisors, therefore, may be required to include lifetime income benefits within the context of a larger retirement income plan. But how is the value of lifetime income conveyed? And how is it illustrated in conjunction with risky investments that the investor may view as critical to creating upside growth potential? In other words, how are different types of products with different risk characteristics unified within one retirement income framework?
That question is answered by the illustration system Wealth2k has developed for The Income for Life Model. Virtually any construction of retirement income strategy can be crafted including time-segmented strategies with as few as two or as many as nine segments. In addition, the advisor may define the characteristics of individual segments including segment duration (one year to lifetime), the rate rate-of-return assumption, the assumed inflation rate and liquidation factor.
Lifetime income benefits may be illustrated beginning in any segments, meaning that multiple lifetime income streams can be staged across the income plan timeline. The software will solve for an income "floor," and it will recognize the investor’s external income sources in calculating the funding for the floor.
- Enables advisors to attract, engage and educate prospects on the subject of retirement income distribution
- Provides the actionable plan of implementation that is missing from financial planning software
- Builds unmatched context for product combination
- Helps advisors close large retirement income sales
- Adds value to the customer relationship
- Helps advisors use the web effectively to improve communications and lead-generation