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Products & Services April 3, 2025
T. Rowe Price Introduces Adviser Social Security Analyzer Tool
Along with the tool, the company is offering a range of content for advisers and clients through its "Power of Social Security" program.
Reported by PLANADVISER staff
T. Rowe Price has a new free tool for advisers that want to help clients optimize their Social Security benefits—the Social Security Analyzer.
With the tool, T. Rowe says advisers can build custom strategies, conduct in-depth analysis, and provide side-by-side comparisons among various Social Security claiming strategies. SSAnalyzer can model various life scenarios, including evaluating spending needs against Social Security income; viewing lifetime, annual, and monthly income; evaluating longevity risk with several life expectancy outlooks; and analyzing the potential impact of taxes, cost of living adjustments, and inflation.
To help support knowledge gaps that might exist about Social Security, T. Rowe is also offering advisers a content program called “The Power of Social Security.” This includes continuing education videos, presentations, and white papers for advisers, as well as a library of presentations, workbooks, and articles for clients.
The company says its goal is to help advisers incorporate research-based guidance and personalization into retirement income planning.
“We know anecdotally and from our recent survey that there is meaningful confusion around Social Security benefits and claiming strategies,” said Kevin Collins, head of U.S. Intermediaries at T. Rowe Price, in a statement. “T. Rowe Price’s SSAnalyzer and ‘The Power of Social Security’ can be vital resources that will help advisers create customized approaches with their clients, which can lead to better personal outcomes in retirement.”
In 2024, T. Rowe launched a Social Security Optimizer tool for T. Rowe Price individual investors and 401(k) plan participants.