LifeYield Unlocks $5.3B of Potential Lifetime Social Security Benefits in First Half of 2020

Social Security Advantage tech adds average of $150K of possible retirement money per client

BOSTON--(BUSINESS WIRE)--The difference between an adequate Social Security benefit filing strategy and an optimal one can be life-changing. LifeYield LLC, the market leader in developing cloud-based solutions that help advisors maximize retirement income for their clients, today reveals that advisors using LifeYield’s Social Security Advantage® tool between Jan. 1, 2020, and June 30, 2020, have added an average of $150,000 per client household in potential lifetime Social Security benefits. LifeYield’s Social Security technology is used by some of the world’s leading financial institutions, including Allianz, Franklin Templeton, Merrill Lynch, New York Life and Personal Capital.

To reach this average, LifeYield examined 35,813 anonymized reports in the first half of 2020 from its client firms, including some of its largest partners, to uncover the potential added benefits represented when analyzing the difference between clients’ initial Social Security filing strategies and the optimal strategies generated by LifeYield’s Social Security Advantage® tool. By following these individually tailored strategies, clients benefiting from LifeYield technology could realize a cumulative $5,364,207,501 in potential added retirement income during their lives.

“With over 80,000 advisors using our Social Security Advantage software, we empower retirement conversations and show advisors and their clients how to file optimal strategies to create more wealth and opportunity,” said Harry Bartle, EVP, Enterprise Sales. “It is gratifying to see the value, in dollars and cents, our partners have created for their clients using our technology. We built Social Security Advantage to demystify the very complex work of finding the right filing strategy for every individual. It’s exciting that advisors and clients are unlocking more potential retirement resources under their complete control, untethered from a volatile market.”

LifeYield plans to publish quarterly updates of the potential added Social Security benefits unlocked by advisors using its technology. LifeYield does not access confidential client data and rather analyzes the impact of Social Security Advantage through its partners’ anonymized information.

To learn more about LifeYield and Social Security Advantage, schedule a free demo here.

About LifeYield
LifeYield, the financial services leader in smart-householding, helps advisors maximize retirement income for clients. From accumulation through withdrawal, the LifeYield Advantage Suite® uses the industry-leading Taxficient Score® to illustrate tax efficiency and improve asset location across IRAs, 401(k)s and taxable accounts to boost client returns. Its intuitive Social Security Advantage® software helps over 80,000 advisors plan optimal retirement income strategies and filing benefits for clients as they approach retirement. LifeYield’s software is integrated with the largest wealth management, RIA, insurance, asset management and fintech providers. For more information, please visit www.lifeyield.com and follow the company at @lifeyield.