| [November 01, 2005] |
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Still River Announces Release of Retirement Income Planning Software
HARVARD, Mass. --(Business Wire)-- Nov. 1, 2005 -- Still River Retirement Planning Software, Inc. announced today that its new retirement income planning software product, RetirementWorks(R) II, is now available for licensing.
"People who have tried out the beta test version of RetirementWorks(R) II have been impressed with its uniqueness," said company president Chuck Yanikoski. RetirementWorks(R) II is the first system that provides advice to retirees based on a systematic, integrated analysis of household cash flows rather than on investment analysis or other isolated aspects of the retiree's situation. "Our approach is a holistic one: if you can't answer all of the retiree's financial questions, then you can't adequately answer any of them because they are all interrelated," Yanikoski explained. "Given the stakes, we feel that anything less verges on financial malpractice."
RetirementWorks(R) II was launched in beta test version on March 31, 2005. Over the spring and summer the system was used in test cases by dozens of financial advisors, insurance and mutual fund company representatives, and consumers, while it was also undergoing rigorous in-house testing by Still River.
"Even though the test period has officially ended, we will continue to vigorously pursue a high level of quality control, " Yanikoski noted. "Perfection is always just out of reach, but in this market we need to get as close to it as possible. If retirees receive inappropriate advice, by the time it becomes apparent it is probably too late for them to recover. We must do everything we can to get it right the first time - and we must continue to monitor their financial situation as they progress through their retirement years."
For individual financial advisors, the annual licensing fee for RetirementWorks(R) II is $1,500. For large financial institutions and for employers who want to offer the software as a benefit to their older employees and retirees, the fee depends on the situation. The system is not currently available on a retail basis to individual consumers.
Still River Retirement Planning Software, Inc. is located in Harvard, MA. For more information, please visit our website at www.StillRiverRetire.com, call Chuck Yanikoski at 978-456-7971, or e-mail csy@StillRiverRetire.com.
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