Many successful models will emerge in the race to provide retirement income management to retirees, but by talking to the competition, the first company to gain major ground in this respect is Fidelity Investments of Boston. In October of 2004, Fidelity launched the final piece of its comprehensive retirement program, Fidelity Retirement Income Advantage (FRIA).

Listening to Fidelity executives, the most important aspect of FRIA is that it is not just a product, a planning tool, or a set of marketing materials; it is a full-service program with three components that educates clients; provides planning resources that enable them to cover all their risks through a range of products; and offers a way to monitor assets during retirement through an income management account.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.