United Services Automobile Association (USAA) has selected Fiserv's AdviceAmerica technology, to provide its members with an online retirement savings and distribution tool.
Fiserv has said that the AdviceAmerica technology enables members to evaluate their existing retirement portfolio and provides recommendations to help members reach their personal retirement goals.
USAA will use AdviceAmerica’s forecasting models, cash flow and advice engine technologies in concert with its proprietary portfolio allocation and investment product recommendations to offer its members a detailed solution and personalized experience to different member segments.
USAA Investment Management Company president Dan McNamara said the company’s goal is to help every member plan for their future, regardless of where they are on their journey to retirement, and teaming up with Fiserv will allow USAA to offer easy-to-use, interactive financial planning tools that members can use anywhere, anytime.
The combination of online tools and access to free advice from our financial advisors will give members the information they need to plan for the retirement they really want,” McNamara said.
According to the Fiserv, the tool will help members better define their retirement goals and determine if they are on track to meet them by comparing their current portfolio against USAA’s model portfolio based on the individual’s risk tolerance.
Moreover, members also can take action to help balance their portfolio to a more comprehensive mix designed to be commensurate with their risk profile.