Products
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. <br />
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.