Justin Fitzpatrick, PhD, CFA, CFP® and Co-founder of Income Lab had the opportunity to present at Morningstar Investment Conference this year! A few key take aways are below:
Clients don’t fail in retirement, they adjust. Until Income Lab advisors didn’t have a great way of delivering adjustment advice.
Think of Income Lab as your GPS in retirement. It allows advisers to give directions not scores. Advisors can help clients understand how much they can spend, what would lead to an adjustment and the size of those adjustments.
Giving people clear information on the next move really brings down the anxiety and it gives advisors a clear competitive advantage over those who do retirement the old way.
Justin Fitzpatrick is President and Co-Founder of Income Lab, retirement income planning software used by thousands of financial advisors. He developed the guardrails-based approach to retirement income distribution after a decade in financial services at Jackson and seven years in academia at MIT, Harvard, and UCLA. His research on adjustment-based planning has been published on Kitces.com, ThinkAdvisor, AdvisorPerspectives, and FinancialPlanning Magazine.
