Products November 8, 2018

RetireReady Solutions Adds Income Feature to its Software

The Retirement Analysis Kit now includes a "bucket strategy."

Reported by

Retirement planning software developer RetireReady Solutions has added an income allocation feature to its The Retirement Analysis Kit (TRAK) software, to better help advisers engage and motivate plan participants toward retirement readiness.

Called the Bucket Strategy, it enables the adviser to show participants how their savings could be broken down into time-segmented portions, or buckets, which can be customized, e.g., according to accumulation and distribution rates of return, annual fees, and surrender fees; whether the product solutions are fixed, fixed-indexed or variable; whether the accounts are qualified, nonqualified or mixed, etc. The program also provides him with reports and visual illustrations to help him with the modeling. 

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According to the company, the adviser can use the bucket strategy as “part of a complete retirement plan” that also factors in other assets and income sources such as Social Security and pension income.   

“With our new Bucket Strategy feature, advisers can model a strategy that’s easy for clients to understand,” says Edward Dressel, president of RetireReady Solutions.

Deals & People November 7, 2018

Victory Capital Purchases Known Military Servicing Investment Firm

The firm will continue to supports the needs of the military community and their families. 

Reported by

Victory Capital Holdings Inc. has entered into a definitive purchase agreement to acquire USAA Asset Management Co., including its mutual fund and exchange-traded fund (ETF) businesses and USAA 529 college savings plan.

USAA Asset Management Co., in San Antonio, was formed to serve the investment needs of the military community and their families. It will become Victory Capital’s 11th investment franchise and will have the rights to offer products and services using the USAA brand. As part of Victory Capital, USAA’s investment teams will continue assisting the investment needs of the military community and their families. Victory Capital also plans to develop a nationwide financial literacy platform designed to support the military community, USAA members and their families. 

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The acquisition of USAA Asset Management Co. represents a substantial expansion and diversification of Victory Capital’s investment platform, particularly in the fixed-income and solutions asset classes. Victory Capital will extend its solutions platform to include target-date and target-risk strategies, managed volatility mutual funds and active fixed-income ETFs. It will also add to its lineup of asset allocation portfolios and smart beta equity ETFs. USAA Asset Management Co. also offers sub-advised and multi-manager equity funds that will expand the choices for Victory Capital clients. The transaction also provides an opportunity for Victory Capital to offer its products to USAA members through a direct member-based channel.

“The acquisition of USAA Asset Management Co. is a strong diversifier for us with the addition of quality investment teams and products and provides us entry into a new distribution channel with a loyal member base,” says David Brown, chairman and CEO of Victory Capital. “It increases our size and scale, enhances our ability to attract and retain top investment talent, and leverages our investments in critical components of our business, such as technology, operations, investment support and client service, across a broader base of assets.”

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