BOSTON, Dec. 12, 2012 /PRNewswire/ -- John Hancock Financial Network (JHFN) has added tools to enhance Retirement Ready*, its award-winning turnkey retirement income program that helps financial professionals discuss the topic and work with clients on a strategy to help maximize their sustainable retirement income while minimizing some of their risks.
New to the program -- which was launched last fall with a product allocation analysis tool, sales materials, and a dedicated support team -- are tools for an in-depth discussion and evaluation of legacy planning options, as well as enhanced client specific investment growth rate flexibility and additional product comparison tools.
At the heart of the Retirement Ready program is a product allocation tool called the RSQ Analyzer. It leverages a unique methodology developed by Moshe Milevsky and the QWeMA Group to determine each client's product allocation and provide a Retirement Sustainability Quotient (RSQ) reflecting the relative likelihood that their portfolio will generate the income they desire for the rest of their lives.
"Overall we've had tremendous success with adoption of this program, and the enhancements will only make it more useful," said Bruce Harrington, vice president of Sales and Business Development, JHFN. "We've heard numerous anecdotes about how much the Retirement Ready program has helped JHFN representatives talk about retirement risks and planning in language clients understand, and how much our product allocation model helps give clients confidence."
Now, while considering their retirement income strategy with Retirement Ready, clients will have materials and worksheets to help evaluate legacy planning and develop a strategy for leaving a legacy using life insurance if it is something they wish to do. The enhanced program can help clients determine what size legacy they may be able to leave and the impact it would have on their retirement income sustainability. The program provides easy-to-read bar charts that are easily adjusted to show different scenarios.
Moshe A. Milevsky, president and CEO, QWeMA, said, "QWeMA is delighted to be partnering with JHFN and supporting both retirement income and legacy solutions with the enhanced Retirement Ready program."
In addition, the current enhancements include:
- Added flexibility enabling financial professionals to change the investment growth rate assumptions to more closely match their clients' investment profile, and the ability to reflect the inflation rate impact more precisely with half a percentage increments
- Two new product comparison tools to enable the financial professional to identify the most relevant life insurance product solution that would best fit the clients' need
"We feel that the Retirement Ready program is important because it helps financial professionals assist their clients to maximize sustainable retirement income and minimize risk, but on a higher level, it also is a valuable resource for advisors that can help them stand out in the retirement income planning area, and can really play a role in building their business," said Greg Melton, director, Retirement Income, JHFN.
The Retirement Ready site, developed for John Hancock Financial Network by digital marketing firm Blue Rush, won Best Financial Services Interactive Application in the Web Marketing Association's 2012 Interactive Advertising Competition.
IMPORTANT: The projections or other information generated by Retirement Ready and the RSQ Analyzer regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.
Results will vary with each use and over time.
In most circumstances, Retirement Ready favors products which offer guaranteed income streams such as variable annuities with guarantees income riders and single premium immediate annuities due to the lifetime income features associated with these types of products.
About John Hancock Financial Network
John Hancock Financial Network is a national network of independent firms with approximately 1,900 advisors across the U.S. A leader with the stability and scale to offer an innovative business model, John Hancock Financial Network gives entrepreneurial advisors the power to effectively build unique businesses, based on their own vision and market opportunity. For more information on John Hancock Financial Network and its national network of independent firms, visit https://www.johnhancockfinancialnetwork.com.
Securities offered through Signator Investors, Inc., member FINRA, SIPC. 197 Clarendon Street, Boston, MA 02116.
Moshe Milevsky and The QWeMA Group are independent of John Hancock and Signator Investors, Inc.
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SOURCE John Hancock Financial Network