For more stories like this, sign up for the PLANADVISERdash daily newsletter.
Products May 18, 2012
SunTrust Introduces Retirement Income Tool
SunTrust Banks Inc. launched
SunTrust Retirement Income Navigator, which lets its advisers help clients
maximize retirement income while drawing down assets for tax advantages.
Reported by Jill Cornfield
Using the tool, SunTrust clients may increase retirement income by up to 33% versus a tax investment neutral approach, according to a study by an independent research group.
The Retirement Income Navigator’s three steps—plan, invest, manage—use tax-sensitive technology to develop a plan of specific actions rather than general recommendations. The tool was developed with LifeYield LLC.
“If investors draw down assets in a predictable and methodical way, they can enjoy better after-tax returns, increased retirement income and, possibly a greater bequest to heirs,” said Mark Davis, senior vice president at SunTrust Investment Services.