Alliance Adds Advisor Version of Retirement Readiness Assessment Tool
May 29, 2019 by Allison Bell
The Alliance for Lifetime Income is now offering financial advisors an advisor-oriented version of its Retirement Income Security Evaluation tool, or RISE Score tool.
The alliance — a group for annuity providers and other organizations with an interest in income planning arrangements — says the tool provides a quick, standardized assessment of how prepared users are for retirement.
The alliance hired Milliman, an actuarial consulting firm, to develop the tool.
The original, consumer version of the tool, which was unveiled in April, uses demographic information and information about a user’s retirement savings, projected retirement expenses and expected sources of retirement income to provide a rough retirement readiness estimate.
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