Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.
Products August 14, 2008
Principal Introduces Beneficiary Planning Tool
Principal Funds said its new tool aids financial professionals in designing an effective wealth transfer strategy for clients.
Reported by Fred Schneyer
The beneficiary planning guide for includes tips on how to:
- conduct a comprehensive beneficiary review using a simple checklist
- maintain timely contact with clients
- organize a family meeting
- host a beneficiary planning seminar to reach a larger audience
In addition, a guide for financial professionals to share with investors features a one-page, quick-reference chart that compares how different beneficiaries are affected by their choice of distribution when IRA assets are transferred. The guide also answers questions on how to:
- properly designate beneficiaries
- preserve assets for beneficiaries
- manage tax-deferred growth, taxes, and penalty issues
More information is available at 800.787.1621 for Princor Registered Representatives or www.principalfunds.com/beneficiaryplanning.