FinovateFall 2021 / Income Discovery
Presenter Profile:
How they describe themselves: Income Discovery maximizes a client’s retirement paycheck. Its AI engine, AIDA, personalizes every client’s withdrawal from various sources including Social Security, pension, annuities, qualified, non-qualified and Roth assets, and more. By tax optimally sourcing each year, AIDA increases a client’s retirement paycheck by as much as 30%. AIDA has serviced more than 106,000 retirees with $80 billion in assets as of 12/31/20.
How they describe their product/innovation: Three modules that make up Income Discovery’s AI powered retirement decumulation platform will be demonstrated:
- Safe Income Portal: Self-serve digital retirement income advice engagement.
- Income Planning 2.0: income advice solution that provides advisors a client’s tax-optimal retirement income strategy with one-click.
- Paycheck: Solution to manage disbursals for planned spending, unplanned spending, and Roth conversions during retirement. Integrates with a firm’s existing planning tools and systems to deliver tax-optimized withdrawals.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms
Contacts
Bus. Dev. & Press: Manish Malhotra, CEO & Founder, manish@incomediscovery.com, 917-740-9190
Website: incomediscovery.com
LinkedIn: linkedin.com/company/income-discovery
HQ: Liberty Corner, NJ
Founded: July 2010
Product Demoed: Paycheck in Retirement
Metrics: 26 employees, annual revenue $2M
Actively Seeking Capital: Yes (Series A)
Presenters: Manish Malhotra (CEO & Founder), Brandon Peters (Senior Product Manager)
- Key Executives
Manish Malhotra (CEO & Founder), Stephan Granitz (Chief Analytics Officer), Elias Zaretsky (Chief Software Architect), Stacy McDowell (Chief Product Officer)
Key Stats
- Key Board Members
Manish Malhotra (CEO), Rakesh Kaul (Chairman, Spherenomics, Innovairre, and the Estee India Fund), Shankar Iyer (CEO, Intertrust)
- Key Investors
Manish Malhotra (CEO), Rakesh Kaul (Chairman, Spherenomics, Innovairre, and the Estee India Fund), Shankar Iyer (CEO, Intertrust), Shaun Mathews (fmr. Senior MD, Voya Investment Management), Roger Ochs (fmr. CEO, HD Vest Financial Services), William A. Eagan III (fmr. Senior Investment Banker), Chandy Vaidyanathan (fmr. Senior Partner of Strategy, PwC), Tai-Chin Tung (fmr. Executive, Schwab & Fidelity), Thomas Rowles (fmr. Partner-in-Charge & National Director, KPMG)
- Key Advisory Board Members
Shaun Mathews, Roger Ochs, William A. Eagan III, Chandy Vaidyanathan, Tai-Chin Tung, Thomas Rowles