The Product Profiler® maps product types to the client’s needs and uses a scoring methodology to help determine which mix of investment vehicles or products is best suited for an individual client’s needs. These suggestions are combined with ReasonText™ that explain why a product type fits a client’s needs. The Product Profiler is currently being re-configured for the SEC Reg BI regulation.

The Process

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Product Type Selection

Client Questionnaire:  The Product Profiler® uses a dynamic questionnaire to assess risk tolerance, guarantees versus flexibility, proximity to income need, retirement income needs, etc.

Needs Analysis:  The Product Profiler® starts by estimating the client’s retirement needs and how the client’s current assets may be able to replace that income in retirement.  This “retirement income replacement” rule of thumb is then used with further analysis to determine the product solutions that may be in the client’s best interest.

Product Type Selection: In the product selection process the first step is identifying the right product type and the second step is determining the specific product.  Product types and account needs are scored and the product types that are best suited for the client are identified. If an advisor “clicks” the “Show Details” button by each product type, ReasonText™ is presented to explain the fit of the product type for the client.

401k/IRA Rollover:  If the client has 401k and/or IRA assets an additional analysis is conducted to analyze current fees, features, and employer contributions.  A current 401k or IRA can then be compared side-by-side with a firm’s IRA. The 401k rollover analysis uses both statistical data with a combination of preferential questions in the analysis.

Product Type Allocation: Client information gathered through the dynamic questionnaire helps determine an allocation of income sources.  This starts with a base guaranteed income need, and adjusts the amount up or down by following client specific factors.


Dynamic Questionnaire

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The Product Profiler® uses a dynamic questionnaire to collect client data on the following:

•  Retirement Income Needs    

•  Risk Tolerance    

•  Guarantees Versus Liquidity

•  Proximity to Income Need    

•  Current Assets    

•  Retirement Contributions


Evaluation of Retirement Options

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The RightBRIDGE scoring engine is used to determining an appropriate strategy or combination of strategies for retirement income funding.  

Based on the client’s information input in the questionnaire a proposed retirement income allocation is displayed. Product type analysis, retirement income projections, and retirement income allocation are all presented on one interactive screen.


Solution Summary and Allocation

Similar to the Annuity Wizard, the Product Profiler® using a scoring methodology to help determine which type of retirement vehicles or products are best suited for an individual client.  

One highly desirable feature of RightBRIDGE is that it provides robust client-specific text that assists an advisor in communicating how a product or configuration meets the client’s needs.  If an advisor clicks “Details” by each product type ReasonText™ is presented.

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Rollover Analysis

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If the customer indicates that they have current retirement assets in a 401k or held away IRA the following input screen is designed to collect information about the account.

 If the information on an existing plan has been provided from data aggregation this information can be pre-populated.

Once the information is either input or imported from an aggregator the Product Profiler will analyze the current plan and compare it to your firm’s IRA options and provide an analysis which includes a best interest check.  

See the screen below for sample analysis and ReasonText™. If the best interest check is positive a green check mark will appear in the upper right hand corner if it is negative a red - will appear.

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