Business owners, key employees and high-income individuals may have a retirement savings gap and a different set of considerations when it comes to meeting retirement income goals. The site, Principal Retirement+, lets financial advisers access supplemental retirement resources including:
- A retirement gap calculator to prepare a customized gap analysis for clients;
- Consultative expertise including one-on-one case design, analysis and presentation; and
- Post-sale support and ongoing administrative services.
Supplemental retirement solutions can be overwhelming, leading The Principal to create what they said is a streamlined process for advisers with educational and planning tools, according to Patti Bell, director of advanced solutions for The Principal. “Financial professionals play a critical role in helping individuals determine their retirement readiness by identifying gaps and offering ways to save more,” Bell said.
Principal Retirement+ leads advisers through the sales process, first identifying the savings gap and then creating an action plan. Advisers can access a team of CPAs, attorneys and experienced plan design consultants. Choosing from a wide range of possible supplemental retirement solutions, professionals at The Principal will develop a customized proposal to help meet individual client needs.
The product portfolio includes products designed specifically for the business market with flexible funding options, coupled with traditional and innovative policy riders, Bell said.The site can be found here.