Pioneering RetireTech solutions: Nassau and LifeYield form strategic partnership

Nassau Financial Group, a Hartford, Connecticut-based growth-oriented and digitally enabled financial services company, has today announced an exciting new partnership with LifeYield, a leading FinTech firm specialising in applications aimed at optimising retirement income, maximising Social Security, and minimising the tax impact on investments for clients.

The primary objective of this strategic alliance is to enhance the capacity of independent insurance producers to provide robust retirement income protection to more American citizens. This will be achieved through comprehensive education, the utilisation of emergent RetireTech solutions, and a focus on annuities.

Founded in 2015, Nassau Financial Group operates three closely intertwined businesses within the realms of insurance, reinsurance, and asset management. The company, with $22.1bn in assets under management and nearly 378,000 policies and contracts, is deeply committed to digitisation and growth within the industry. LifeYield, on the other hand, is a FinTech company whose primary goal is to enrich investor outcomes by minimising investment taxes and optimising retirement income. They work with major financial services firms to integrate LifeYield APIs with their proprietary platforms for the automation of numerous financial operations.

Under this partnership, Nassau will integrate LifeYield’s “Social Security+ with Income Layers” application into its RetireTech toolbox. This intuitive application models different Social Security benefits scenarios, enabling independent producers to guide their clients towards reliable income streams, which in turn supplement their Social Security benefits.

Nassau’s Chief Growth Officer, Tom Buckingham, expressed his excitement about the new collaboration. “Nassau’s collaboration with LifeYield demonstrates our long-term focus on providing leading digital capabilities to help insurance producers develop strong retirement income strategies for each client,” he said. “We are excited about the future of technology in retirement planning, from setting goals through seeking to protect savings, deliver guaranteed income, and pay for health care costs,” Buckingham added.

Jeff Quigley, Vice President at LifeYield, emphasised the crucial role of the Social Security+ application in retirement planning. He said, “Producers use Social Security+ to demonstrate how income history, age, and marital status affect lifetime benefits. Then producers use the application’s Income Layers feature to evaluate potential income sources to seek to close the gap between Social Security benefits and monthly income needs.”

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