United Income Launches New Money Management Solution for Retirees, Challenging Current Financial Planning and Investment Management Approaches

WASHINGTON, Sept. 11, 2017 /PRNewswire/ -- United Income, an independent money management solution aimed at people nearing or in retirement, today announced the launch of its web platform and new money management approach for consumers. By combining new technology, new data, and human advisers, United Income offers holistic financial planning and investment management aimed at extending the life and potential of money.

With over $200M in assets under management through its private beta launch, the new platform, believed by United Income to be the first of its kind, offers a solution that examines millions of potential future market and life outcomes, creating personalized projections of future changes in spending on health and other items.

"Thanks to advancements in healthcare, people are living longer and are retired longer. But, the market has struggled to find a way to extend the life of money as effectively," said Matt Fellowes, founder and CEO of United Income. "By harnessing powerful new technology and a growing body of data and academic work, we have been able to invent a new approach to money management that aims to extend the life of money."

With its financial planning methodology and investment recommendations, United Income estimates that the average 64 year-old¹ may increase their chance of having enough money in retirement by 55.7% (from 9.4% chance of success to 65.1% chance of success)² compared to a low-cost retirement income solution.³

"We could not have created this breakthrough invention without relying on a very unique team of policy experts," said Fellowes. That team includes the former Commissioner of the Bureau of Labor Statistics, Director of Policy Research at the Social Security Administration, Deputy Assistant Secretary of Treasury in charge of tax policy, Deputy Chief of Staff at the Centers for Medicare and Medicaid, and Senior Advisor to the Secretary of the Treasury, among others.

Some of the services on the platform include:

• Budgeting and Spending services are designed to help members determine how much they can spend annually, recognizing that household spending can fluctuate by as much as 50% year-to-year in retirement. United Income uses custom models to provide personalized projections to members for essential expenses, health expenses, lifestyle expenses, and charitable giving or inheritance planning.
• Investment Management services are designed to help members make investment decisions to better enable them to reach their goals, even creating a custom investment strategy for each spending need. United Income's investment management approach also integrates automatic rebalancing and tax optimization.
• Financial Planning services consider millions of potential life and market outcomes to build personalized plans that aim to maximize the probability of achieving as many of an individual's retirement needs and goals as possible. This includes recommendations on retirement age, Social Security claiming age and strategy, and more.
• Account Sequencing service is designed to help retired members lower their taxes and improve investment returns by helping to determine which account to withdraw money from and when.
• Retirement Paycheck service aggregates different retirement income streams to provide members with a monthly paycheck, so they know how much they have to spend and can budget to that amount – just as they did during their working lives.
• Concierge Services takes care of the financial tasks members do not want to, including enrolling in Social Security and Medicare benefits. United Income will also curate opportunities for users to pursue their hobbies, passions and dreams, including volunteering opportunities and obscure adventure trips.

United Income offers a free financial plan, which includes advice on retirement age and Social Security claiming. Membership starts at 0.50% annual fee on assets under management for self-service financial planning, investment management, and the retirement paycheck and goes up to 0.80% for unlimited access to a personal financial advisor and concierge service. United Income is an SEC-registered investment adviser open to clients in all 50 states.  As a registered investment adviser (RIA), United Income is a fiduciary committed to putting its members' best interest first and does not accept commissions on the investments it recommends.

United Income, which raised $5.8 million in seed funding in 2016, is Fellowes' second financial technology startup. He founded HelloWallet in 2009 before selling it to investment research firm Morningstar in 2014 for $52.5 million and becoming Morningstar's Chief Innovation Officer. Prior to that, he was a Fellow at the Brookings Institution.

For more information about United Income, visit: www.unitedincome.com.

ABOUT UNITED INCOME

United Income is a financial planning and investment management solution for households nearing or transitioning into retirement. The company offers a simple and effective money management solution that takes care of retirees' day-to-day needs, while aiming to maximize their income and ability to reach their goals as they age. It combines tech, data and human financial advisors to improve planning, managing, investing and living. United Income is based out of Washington, D.C., and was founded by consumer finance executive Matt Fellowes, who previously sold a financial tech startup for $52.5 million. For more information, visit www.unitedincome.com.

DISCLOSURE

Investment strategies, such as asset allocation, diversification, or rebalancing, do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Mutual funds, exchange-traded funds, and other securities are subject to risk, including loss of principal. All investments have inherent risks. There can be no assurance that an investment strategy proposed will by United Income will achieve its goal. Past performance does not guarantee future results.

¹ Average 64-year old profile was derived from the Survey of Consumer Finances in 2013.

² Chance of success was calculated using 1,000 projected random market simulations based on Morningstar's Capital Market Assumptions.

³ Low-cost retirement solution was modeled as a target date fund with a total fee of 0.45% and using a 4% withdrawal rule.

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SOURCE United Income