Product Allocation approach aims to reduce risks
TORONTO, May 31 2010 – Manulife Investments is taking its Product Allocation strategy to Canadians coast-to-coast, to help them work with their advisors as they plan ahead for retirement.
As part of an initiative launched for advisors in 2008, Manulife is adding a new rich-media investor website to help consumers learn more about Product Allocation and how it can help them better plan and protect their retirement income. The site can be found at http://www.helpmysavingslast.ca.
“It’s not enough these days to simply try to increase our savings as a way to plan for retirement,” says J. Roy Firth, Executive Vice President, Manulife Financial.
“Each of us needs to shift our behaviour – away from simply saving, to find the very best types of products we need to generate reliable and sustainable income from those savings. That’s why we launched Canada’s first Product Allocation tool for advisors in 2008 and are now providing resources to all Canadians, so they can learn more about the importance of the mix of products needed to reduce their retirement risks.”
Range of resources
The Manulife Investments investor product allocation site offers a range of educational video resources to help Canadians plan for retirement, working closely with an advisor.
For those without an advisor, they can click on a tab that will help them connect with a financial advisor who can explain how product allocation can help them plan for retirement and better manage their finances. Consumers can also download a brochure that covers the risks faced in retirement and through an interactive tool, find out what matters most to them in retirement.
“Boomers are planning for their life beyond the office or the factory floor,” continued Firth. “Our Product Allocation approach is one more way Manulife and its advisors provide clients with solid income strategies that can help them live the retirement they want and deserve.”
The Product Allocation approach separates a client’s portfolio into three retirement product categories: annuities, Guaranteed Minimum Withdrawal Benefit products and non-guaranteed income sources such as traditional products like mutual funds, with systematic withdrawal plans. An online product allocation tool available to advisors allows them to help evaluate a client’s current portfolio based on those categories and then project the likelihood that an income stream will be sustainable.
“Asset allocation plays an important role in the wealth accumulation phase of investing,” said Mr. Firth. “But the right mix of investment products for those who require income is necessary to mitigate risk for a sound retirement income plan.”
About Manulife Investments
Manulife Investments is the brand name describing certain Canadian subsidiaries and operating divisions of Manulife Financial Corporation that offer personal wealth management products and services in Canada. As one of Canada’s leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated funds, mutual funds, annuities and guaranteed investment contracts.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$446 billion (US$440 billion) as at March 31, 2010.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.