The Retirement Income Style Awareness (RISA) profile launched early this year by noted retirement income experts Wade Pfau and Alex Murguia got another boost recently with last week’s announcement of a new strategic partnership with CreativeOne.
RISA offers a unique retirement income framework that blends psychology and financial planning to help investors identify their individual retirement income preferences. A press release said the collaboration marks a significant milestone for both companies and is set to revolutionize retirement income planning for Overland Park, Kan.-based insurance, securities, and wealth management organization CreativeOne’s financial advisors.
Through the new partnership, CreativeOne aims to leverage the RISA assessment to empower its financial advisors with invaluable insights into their clients’ retirement income preferences. By identifying their clients’ feelings about stability, flexibility, reliance on market returns, and preferences for contractual guarantees, advisors will gain a comprehensive understanding of their clients’ tolerance for income risk during decumulation.
RISA Co-Founders Pfau and Murguia expressed enthusiasm for the collaboration, noting clear synergies between RISA’s and CreativeOne’s visions for enhanced retirement income planning.
“We’re thrilled to partner with CreativeOne, a respected leader in the financial services industry. The Retirement Income Style Awareness profile is designed to complement CreativeOne’s commitment to providing personalized solutions for their clients,” Murguia said. “By identifying individual retirement income preferences, CreativeOne’s advisors will be better equipped to tailor retirement strategies to each client’s unique needs.”
Wade Pfau added, “CreativeOne’s dedication to industry expertise and superior service aligns perfectly with the goals of RISA. Together, we can elevate retirement income planning to new heights and help clients achieve their financial objectives with confidence.”
As a result of the partnership, CreativeOne’s financial advisors will have seamless access to the RISA platform, enabling them to conduct intuitive surveys with their clients to determine their specific retirement income preferences. The RISA profile will provide advisors with actionable data, enabling them to implement targeted and effective retirement income strategies that suit each individual client’s needs and aspirations.
Mike Miller, President, Partner, and CEO of CreativeOne, emphasized that this partnership will play a role in bringing their larger vision for the future to life. “We are excited about integrating RISA into our offerings. CreativeOne’s commitment to creating meaningful, personal relationships aligns perfectly with the RISA’s goal of empowering financial advisors with the insights they need to make the most informed decisions for their clients’ retirement income planning. This collaboration represents a significant step forward in our mission to enrich the lives of financial professionals and their clients.”
The partnership is the latest development for the RISA, which Murguia and Pfau said at the time of its launch garnered exceptional feedback from advisors through its original beta launch and pilot programs with PacLife and DPL, along with an additional 80 piloting advisors.
“We want to do more than simply give advisors access to the RISA,” Murguia said back in November 2022. “We see ourselves as true partners to these professionals who are acting in the best interests of their clients. Wade and I will be there every step of the way to help maximize the impact RISA can have on both their clients’ retirement outcomes and their own firms.”
For more information about the partnership, visit https://creativeone.com/creativeone-and-risa/.
SEE ALSO:
• ‘RISA’ Packs Advisory Board with Retirement Industry Heavy Hitters
• New Research Turns Traditional Retirement Income Planning on its Head
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
