Schwab Unveils Real Life Retirement Services Product

Charles Schwab&Co. has launched Real Life Retirement Services, to provide practical help for people making the transition to retirement.

A Schwab news release said the new approach to retirement education is designed to answer questions about issues such as whether workers can afford to retire, their retirement expenses, when they should begin Social Security benefits, and how best to generate income during retirement.

“We have a different point-of-view from other financial firms in how we approach retirement. For most people, retirement isn’t about hang-gliding or hitting the golf course every day. People dream of balance – enjoying a comfortable lifestyle, covering health care costs, spending time with family and friends, and making sure they won’t run out of money,” said Mark Jamison, vice president, Charles Schwab, in the news release. “We chose to build a service that addresses real life challenges people are facing today, which typically don’t involve a life sailing around the world.”

The new program starts with a free consultation. To help deal with the in-retirement income needs, Schwab said it will help investors develop the proper portfolio with access to income funds, help find appropriate fixed income investments, and provide an annuity cost comparison tool and a “rollover concierge” to help the investor consolidate multiple accounts.

AIG Global R/E Seeks Buyer for Fund Management Biz

AIG Global Real Estate has announced plans to divest its fund management business.

That business operates 15 existing fund programs with over $12.4 billion in assets under management and $5.2 billion in equity capital commitments as of September 30, 2008, according to the firm. The fund management business is a global asset adviser headquartered in New York with regional operations in Europe, Japan, Latin America, and Asia and includes committed equity capital that has been funded or is to be funded by GRE as a sponsor or co-investor, according to the company’s announcement.

Bank of America and Merrill Lynch, GRE’s financial advisers, have begun to solicit interest for the fund management business.

GRE’s Fund Management platform includes:

  • Global asset adviser for a diversified client base
  • Funds include core plus, value-add and opportunistic with consistently strong results
  • Diversified portfolios across asset class, geography, and vintage
  • Seasoned group of investment professionals

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