LifeYield Helped Advisors Create $11B of Potential Retirement Wealth in 2020

Social Security Advantage® reveals $2.4B in added retirement income in Q4 2020 for personal investors benefiting from LifeYield’s technology

BOSTON--(BUSINESS WIRE)--LifeYield LLC, the market leader in cloud-based solutions helping advisors maximize retirement income for their clients, today reports advisors using LifeYield’s Social Security Advantage® tool between Oct. 1, 2020, and Dec. 31, 2020, have added an average of $148,000 per client household in potential lifetime Social Security benefits. In total, LifeYield’s technology helped advisors identify $11.3 billion in potential added Social Security benefits for the year 2020.

To reach the Q4 2020 average, LifeYield examined 17,048 anonymized reports from its largest partners in the fourth quarter of 2020. The average reflects 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’s technology could realize a cumulative $2.4 billion in potential added retirement income during their lives.

“More than 90,000 advisors used our technology in 2020 to grow their businesses and improve client outcomes,” said Harry Bartle, EVP, Enterprise Sales. “After a year of unimaginable volatility, we’re proud to see our advisor partners create billions in potential added retirement income by fine-tuning the filing strategies of clients.”

The potential wealth created through LifeYield’s technology underscores a year of rapid growth and innovation for the firm. LifeYield debuted a new Income Layers tool, a dynamically-generated report showing how a client’s income sources, including Social Security, could be enhanced over time against anticipated expenses. LifeYield also introduced its Annuity Analyzer, which evaluates the dollars-and-cents impact of any annuity on an investor’s retirement portfolio.

LifeYield also significantly upgraded its API library, used by some of the world’s leading financial institutions, including Allianz, Franklin Templeton, Jackson National, Merrill Lynch, Morgan Stanley, New York Life and Personal Capital. These enhancements let platform providers bring the power of LifeYield’s solutions to their advisors, handling complex investor households with greater ease and control.

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.