The Company's Income Advantage and Tax-Smart Retirement Paycheck Recognized as Revolutionary Tools in the Quest for Household-Level Portfolio Management
BOSTON, Oct. 17, 2019 /PRNewswire/ -- LifeYield LLC, the leading cloud-based solution that facilitates tax-smart, risk-smart management of an investor's entire household portfolio, announced today it has won the 2019 MMI/Barron's Industry Award for Solutions Provider of the Year, which honors technology or service providers that exemplify innovation in delivering better outcomes for investors and financial advisors.
LifeYield launched Income Advantage earlier this year, the first of its kind software offering advisors and their clients the ability to leverage sophisticated technology to create intelligent withdrawals from all their accumulated assets. Income Advantage looks across all household accounts and products—including taxable and tax-advantaged accounts as well as annuities—when a client seeks to make a withdrawal. The tool provides instructions on what to sell to generate a Tax-Smart Retirement Paycheck. The solution minimizes asset allocation drift, improves asset location, and reveals opportunities to realize losses.
"This award is a testament to the innovative, cutting-edge work the LifeYield team does every day to help financial advisors and their clients make and keep more money," said Mark Hoffman, CEO of LifeYield. "More than 75,000 financial advisors have access to LifeYield's powerful digital tools and consistently grow and differentiate their practice by showing clients and prospects the value of tax-smart asset location and creating a Tax-Smart Retirement Paycheck."
The 2019 MMI/Barron's Industry Awards recognize innovation and leadership in the investment advisory solutions industry. Now in their 11th year, the Awards celebrate outstanding achievement and honor firms that have raised the bar by delivering superior solutions for financial advisors and investors over the past year.
"We see the future of advice as centered on managing the full household which will improve both investor and advisor outcomes," said Jack Sharry, EVP, Chief Marketing Officer of LifeYield. "This award is proof positive we have a keen understanding of the coming landscape and are doing our part in advancing the conversation on the future of financial advice."
Income Advantage is the latest addition to LifeYield's Proposal Advantage Suite. It is the first comprehensive household income optimization tool available on the market, and while it can be used as a standalone tool, most advisors purchase the full LifeYield Proposal Suite. The Suite also includes the Taxficient Score®, which assesses and quantifies the tax efficiency of a household portfolio by assigning a score between 0 and 100 and then shows how to implement changes to improve investor financial outcomes. In addition, the Suite also includes Portfolio Advantage, which develops a tax-smart optimization strategy for a household portfolio, and Social Security Advantage, which guides clients on the optimal time to begin taking Social Security benefits, how much more money they can enjoy and how to file for benefits given different spousal scenarios.
About LifeYield:LifeYield LLC, creators of the Taxficient Score®, enables financial advisors to deliver tax-smart, household-level portfolio solutions. LifeYield's Proposal Advantage Suite® provides a comprehensive, tax-aware view of a client's entire portfolio–analyzing assets across IRAs, 401(k)s and taxable accounts. LifeYield's easy-to-use tools engage clients so they make and keep more money from accumulation through retirement income, and enhance their ability to achieve their financial goals. Based in Boston and founded by finance and technology industry leaders, LifeYield's cloud-based software helps advisors improve investor outcomes and enhance their value and experience in supporting goals-based wealth management strategies. For more information, please visit www.lifeyield.com.
About Money Management Institute (MMI): Established in 1997, the Money Management Institute (MMI) is the industry association representing financial services firms that provide financial advice and investment advisory solutions to investors. Through conferences, educational resources, and thought leadership, MMI facilitates peer-to-peer connections, fosters industry knowledge and professionalism, and supports the development of the next generation of industry leadership. MMI member firms are dedicated to helping individual and institutional investors, at every level of assets, plan for and fulfill their financial goals. For more information, visit https://www.MMInst.org.
About Barron's: Barron's is America's premier financial magazine, known for its market-moving stories. Published by Dow Jones since 1921, it reaches an influential audience of professional fund managers, financial advisors, affluent individual investors, financial-services professionals and senior corporate executives. With new content available every business day in digital form and every week in print, Barron's provides readers with an intelligible recap of recent market action coupled with insights on what's likely to happen in the market in the days and weeks to come. In addition, its annual series of exclusive conferences for financial advisors and investors is dedicated to identifying, enhancing and expanding best practices in investing. As a result of these initiatives, Barron's is the trusted financial-publishing brand that people active in the market turn to for information, ideas and insights they can use to increase their professional success and enhance their personal, financial well-being.
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