Consumers can’t always trust the advice they get from Social Security, Money magazine’s Philip Moeller reports. Many investors utilize the “start-stop-start” method when taking their benefits, which basically equates to claiming Social Security early and then suspending the benefits upon hitting full retirement age to earn a higher payout. But the publication reports that many customer reps at the agency are not aware this is an option, and instead, falsely tell consumers they can’t stop and restart their benefits. Moeller notes that the “start-stop-start” method can give consumers up to 76 percent higher payout if they delay taking any benefits until age 70 and even those who file at 62 and begin collecting but then stop benefits at full retirement (66) and wait until 70 to start again see a 32 percent higher payout
Late Tennessee Titans owner Bud Adams left a valuable art collection to the Eiteljorg Museum of American Indians and Western Art. The Indianapolis Star reports that museum employees transported and catalogued nearly 100 paintings by prominent Western painters and more than 300 Native American artifacts in the collection since 2013, the year of Adams’ death. The gift was formally announced at a gala several weeks ago. Valued at over $10 million, it’s one of the largest gifts the museum has ever received.
Orion Advisor Services is helping to build a new data interface for Jefferson National’s Monument Advisor investing platform. The new interface will aggregate tax-deferred assets alongside taxable accounts to provide real-time data and transaction capabilities within a single advisory workstation. In a statement, Jefferson National President Laurence Greenberg said this will let the 3,000 RIAs and fee-based advisors nationwide who use Monument Advisor optimize clients’ returns without increasing risk, provide more transparency, more accurate reporting and ultimately stronger client relationships.
SunGard has launched five new financial planning and retirement apps for the Windows 10 Windows store, the company announced. The apps include a social security "optimizer," a risk tolerance questionnaire, a sustainable retirement income tool, an earnings calculator and a tax-efficient drawdown tool. The purpose of the apps is to help investors visualize their financial situation and determine if they want to consult an advisor. Advisors can also use the apps for prospecting or to engage existing clients with SunGard’s WealthStation Financial Planning solution. “Although it may seem counter-intuitive to some advisors, offering self-service tools can help advisors acquire new clients and strengthen their relationships with existing clients," said Scott Parry, executive vice president & general manager, SunGard’s wealth & retirement business. The Windows Store is available on Windows 10 desktop computers.