Investment Service and Product Launches

Milestone Money Starts Website Focused on Retirement Planning

Milestone Money LLC, a financial planning and investment management firm, launched a website for retirement and financial planning to and through retirement, the Chicago-based firm announced  in a press release.

Milestone Money, which was founded last year, provides retirement planning, financial planning and investment management to pre-retirees and retirees. The new website will provide informative guides and checklists on retirement management and resources on tax planning and investment topics, according to the release.

It will also be an ”easy-to-navigate site with helpful resources, expertise, and insights on financial topics about living your best life in retirement,” Randy Dippell, the founder of Milestone Money, said in the release. Dippell previously founded LakeStar Wealth Management LLC, later known as Nestegg Advisory, in 2012, working with corporate executives and small business owners.

Transamerica Adds Life Insurance Policy with Retirement Income Option

The Transamerica Corporation is offering a new index universal life insurance policy to protect beneficiaries with opportunity for tax-advantaged supplemental income in retirement, the insurance, retirement and investing firm announced in a press release.

The Transamerica Financial Choice IUL offers life insurance protection with index options and policy features with the goal of helping customers maximize accumulation potential and access to cash value, according to Baltimore-based Transamerica.

“The Transamerica Financial Choice IUL is designed for clients seeking protection and flexibility with tax-free supplemental income,” Andrew DeMarco, head of life solutions at Transamerica, said in the release. “This product delivers upside potential with downside protection for those customers who want to supplement their retirement income or diversify their tax liability.”

The announcement indicated the insurance policy can go toward replacing income, funding major expenses or leaving a financial legacy for heirs. The insurance protection also includes a generally tax-free death benefit and optional living benefit riders for qualifying critical, chronic and/or terminal illnesses.

The policy offers a mix of index options that provide choice and control for policyholders, according to the announcement. Purchasers can choose from domestic and global index options and high or uncapped index rates.

The product will also appeal to small business owners looking to fund or start a new venture, or those who use life insurance to support business-planning strategies such as deferred compensation, split dollar and executive bonus, according to Transamerica.

J.P. Morgan Launches App to Send Checks Directly to IRAs

 J.P. Morgan Wealth Management has a new app for customers to deposit checks—including 401(k) rollovers—directly into their individual retirement accounts from their phone, the New York-based wealth manager announced in a press release.

QuickDeposit for Investments is intended to add to the firm’s digital investment capabilities, with funds deposited within 24 hours of the check being scanned, according to the release. QuickDeposit for Investments is eligible for brokerage and managed accounts, as well as traditional and Roth. Clients can deposit up to $100,000 for taxable accounts and $500,000 for retirement accounts every 30 days, according to the announcement.

“QuickDeposit for banking has always been one of our most popular features,” Kristin Lemkau, CEO of U.S. wealth management for J.P. Morgan, said in the release. “Now we have that same capability for investments. Clients can deposit higher dollar checks right into their investment account quickly and safely.”

Chase has 62 million digitally active customers in the Chase Mobile app and at Chase.com, the release states.

Alternative Investment Association Offers Digital Assets Course

The Chartered Alternative Investment Analyst Association said it is offering a new online education platform focused on digital assets, the organization announced in a press release.

The Digital Assets Microcredential will be available on CAIA’s UniFi in the first half of 2023, according to the Amherst, Massachusetts-based association.

This microcredential, sponsored by digital assets company One River Asset Management, also known as One River Digital, will be earned by taking an online program of between four and five hours designed to provide wealth management professionals with foundational education on digital assets, the CAIA Association announcement said.

The curriculum will consist of four modules addressing: the fundamentals of digital assets; use cases of digital assets; investing in digital assets; and key questions and consideration including custody, compliance, access vehicles and regulation.

“It has now been more than a decade since digital assets emerged onto the scene as a topic of conversation, and a potential investment opportunity, for the wealth management industry,” Aaron Filbeck, managing director and head of UniFi by CAIA, said in the release. “While blockchain technology has the potential to bring significant innovation to many industries, including financial services, its applications are still developing. Therefore, balancing the risks with the investment opportunity set couldn’t be more important, as evidenced in the latter half of 2022.”