PIEtech℠ and Milliman Join Forces to Help Financial Services Firms Prepare for Best Interest Standard

PIEtech℠ and Milliman Join Forces to Help Financial Services Firms Prepare for Best Interest Standard

PIEtech℠, Inc., the creator of the leading financial planning software, MoneyGuidePro®, recently announced that it has entered into an exclusive relationship with Milliman Financial Risk Management, LLC to offer a completely unbiased retirement income tool designed to analyze guaranteed income by product type in concert with a client’s financial plan.

“We are absolutely delighted to have established this relationship with the leading actuarial and risk management firm in the industry to help us further enhance the tools available to advisors as they strive to navigate the current landscape,” said Kevin Knull, CFP®, President of PIEtech℠ Inc. “By incorporating Milliman’s Retirement Income Security Module, MoneyGuidePro® will now help broker/dealers and registered investment advisors better evaluate if and when a guaranteed income vehicle, or combination of vehicles, might make sense for a given client’s facts and circumstances. It will also help indicate when one of these vehicles may be inappropriate for a given situation.”

The new tool will not suggest specific products, but instead will focus on the various guaranteed income solutions such as variable and indexed annuities with lifetime withdrawal benefits, single premium immediate annuities, and deferred income annuities. Once the advisor views the results of a financial plan in MoneyGuidePro®, the system will automatically send data to Milliman’s proprietary retirement income analysis engine to identify the solutions with the highest Retirement Income Security numbers. Once the top scenarios are returned to MoneyGuidePro®, the scenario selected by the advisor is imported into the financial plan. “Our objective with this new partnership is to help firms better justify and defend their recommendations as will be necessary in a post-DOL environment,” added Knull.

This new solution will be an add-on, at an additional fee, to all MoneyGuidePro® subscribers.

“We are thrilled to be working with the leading financial planning software firm in the industry to better help advisors and their firms meet the increasingly complex retirement income challenges for clients,” said Ken Mungan, Chairman of Milliman. “Our expectation is that together, this offering will open the industry’s eyes as to the myriad of ways in which a viable retirement need can be addressed with the innovative solutions given client’s facts and circumstances.”

ABOUT MILLIMAN

Milliman is an independent provider of actuarial and risk management services to the insurance industry and self-insured organizations worldwide. Their work in employee benefits and financial risk management has led to significant innovations in retirement planning, including the Milliman Managed Risk Strategy™ and the Milliman Sustainable Income Plan™. As a leading provider of actuarial, analytical, and data management solutions in the U.S. healthcare industry, they have played a prominent role in the implementation of the Patient Protection and Affordable Care Act of 2010 (ACA). Learn more at www.milliman.com.

ABOUT PIEtechSM, INC.

PIEtech℠, Inc.’s vision is that everyone needs and deserves a quality financial plan. PIEtech℠ is the creator of MoneyGuidePro®, an industry-leading financial planning software, myMoneyGuide®, an online guided planning solution that allows firms to broadly offer financial planning, and Best Interest Scout℠, a standalone, scalable discovery solution to help firms of all types obtain necessary client information. For more information on PIEtech℠, visit www.moneyguidepro.com.

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