Age Wave’s Innovative Retirement Bridge Tool Acquired by Allstate

NORTHBROOK, Ill.–(BUSINESS WIRE)–Life isn’t just a balance sheet. Retirement shouldn’t be either.

Allstate today announced the acquisition of Retirement Bridge™, an innovative Web-based customer engagement and reporting tool that goes beyond the numbers which are often the focus of retirement planning. Retirement Bridge™ paints a holistic portrait of consumers’ hopes, dreams, fears and readiness for their retirement years.

While most retirement planning tools seek only data – how many years until you plan to retire, how much you’ve saved so far, and what products you’re using to save for retirement – Retirement Bridge™ helps customers better envision their individual retirement goals, including where they want to live, what they want to do in retirement, their biggest worries, and their retirement preparation. Through this secure, online survey, customers are able to address what is truly important in their lives through a wide range of topics, from care giving to how they would like to work with a financial representative.

Easy-to-read reports help customers see the challenges and opportunities ahead of them, including worksheets containing tips and resources based on the customer’s interests during retirement. The survey tool allows Allstate financial representatives greater insight into the customer, enabling stronger and more trusting long-term relationships.

“Planning for retirement can be frustrating and intimidating for anyone,” said J. Eric Smith, president, Allstate Financial Services. “Allstate’s vision is to reinvent retirement for middle market consumers and Retirement Bridge™ allows us to help customers envision and plan for their retirement in new and more meaningful ways.”

“So many retirement planners look only at numbers, which can often be confusing and misleading. Retirement Bridge™ gives our financial representatives a comprehensive picture of a customer’s hopes and dreams for retirement. That enables our customers and our financial representatives to work together toward a vision of retirement they both clearly understand,” said Smith.

Retirement Bridge™ was developed by Dr. Ken Dychtwald, president and CEO of Age Wave. Allstate acquired Retirement Bridge™ after receiving positive feedback from its financial representatives and customers during a pilot of the survey last year.

“Today’s retirement will require new styles of financial planning and preparedness. Currently, the industry falls short on providing tools that help financial professionals gain insight into what truly matters most to consumers about their lives and their retirement,” said Ken Dychtwald. “We are excited that Allstate’s financial representatives will have a tool such as Retirement Bridge to better help customers visualize their future and how to prepare to fund it.”

“Our customers have said they want simple, yet effective retirement solutions, and those who have tried Retirement Bridge™ like all that it offers,” J. Eric Smith said. “We’re thrilled that we’re now able to bring this innovative tool exclusively to our customers.”

Allstate’s acquisition of Retirement Bridge™ comes at a time when Allstate Financial continues to expand its portfolio of innovative retirement products and services. Just last month, the company announced two new retirement products:

• ClearTarget^SM Retirement Funds, a target date mutual fund that automatically rebalances as consumers approach their retirement date
• Allstate Guaranteed Lifetime Income, a companion product to the ClearTarget^SM Retirement Funds that helps assure customers receive guaranteed income payments for as long as they live

With Retirement Bridge™, Allstate is continuing its commitment to helping middle market consumers plan for retirement, on their terms.

“Preparing for retirement today isn’t what it used to be,” Smith said. “Given the uncertainties around Social Security and pension plans, people need to take control of their own retirement planning.”

“They need a company they can trust, a company that understands their needs and can help visualize retirement on their terms, and a company that can deliver the best new products and services to help ensure a comfortable future.” he said. “At Allstate, it’s our goal to meet those needs like no other company has done to date.”

The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer. Widely known through the “You’re In Good Hands With Allstate^®” slogan, Allstate helps individuals in approximately 17 million households protect what they have today and better prepare for tomorrow through approximately 14,900 exclusive agencies and financial representatives in the U.S. and Canada. Customers can access Allstate products and services such as auto insurance and homeowners insurance through Allstate agencies, or in select states at allstate.com and 1-800 Allstate^®. Encompass^® and Deerbrook^® Insurance brand property and casualty products are sold exclusively through independent agents. The Allstate Financial Group provides life insurance, supplemental accident and health insurance, annuity, banking and retirement products designed for individual, institutional and worksite customers that are distributed through Allstate agencies, independent agencies, financial institutions and broker-dealers.