AIG VALIC Expands Advice to Participants in Retirement

AIG VALIC’s independent advice and managed-account platform has been expanded for the distribution phase of retirement.

The Guided Portfolio Services (GPS) platform – offered through VALIC Financial Advisors, Inc. – provides investment advice and discretionary managed account services to DC plan participants, according to a press release.

Before now the product has been limited to participants saving for and transitioning into retirement. The GPS program, launched in 2003, has been expanded to service clients entering the distribution phase of retirement by providing personal wealth forecasts, comprehensive portfolio construction and ongoing portfolio optimization, the announcement said.

Based on a participant’s profile, including retirement goals and information about existing assets, GPS advises the participant on a savings rate, retirement age and portfolio allocation focused on meeting an individual’s retirement planning goals. Participants already in the GPS program are eligible to continue using the program during retirement and those not enrolled are eligible for the service if GPS is authorized for their retirement plan.

“Helping clients manage their income in retirement represents arguably the greatest arena of opportunity for the retirement savings industry,” said Bruce Abrams, president and CEO of VALIC and the VALIC Retirement Services Company, in the news release.