Vanguard has announced it is launching the Vanguard Retirement Income Builder tool for financial advisers.
Vanguard Australia head of intermediary Rebecca Pope announced the upcoming launch of the Vanguard Retirement Income Builder at Vanguard's recent adviser roadshow.
The new digital tool aims to be an innovative way for advisers to work with their clients in determining investment, retirement income and wealth drawdown strategies.
"Vanguard Retirement Income Builder will help address the chief concern of many in or approaching retirement of how long their money will last," Pope said.
"This is a powerful tool which has been thoughtfully designed with a client friendly interface, to provide advisers a practical application of our total returns approach to retirement income."
A Vanguard spokesperson confirmed to Financial Standard that the tool is set to launch in the coming weeks.
"The new digital tool will be an innovative way for advisers to work with their clients in determining investment, retirement income and wealth drawdown strategies - ultimately providing a digital interface to discuss the important question of how long money will last into retirement - and will be underpinned by Vanguard's total return's philosophy on retirement income," the spokesperson said.
Vanguard said the tool is being launched due to effective technology playing an increasingly critical role for advisers to deliver more efficient and scaled advice to their clients.
"Vanguard is excited to add to our digital toolkit for advisers, which also includes our popular portfolio builder tool and a range of calculators, with the launch of Vanguard's Retirement Income Builder tool in 2021," the spokesperson said.