Income Harbor

Retirement, in this firm's telling, falls more heavily on the individual than at any earlier time, because of volatile markets, low interest rates, disappearing pensions and the rising cost of health care. Income Harbor Financial Group, which is filed here as an accounting firm, serves households and business owners nationwide on that problem. It says it acts as a fiduciary, meaning it is legally bound to offer only solutions that serve the client's interest.

The five-step planning process

The firm calls its method the New Generation Retirement Planning System and organizes it into five stages:

• Choosing a financial services professional, with an explanation of what to look for.
• Fact and feeling finding, which starts with the client's goals and vision of retirement and an eleven-question risk self-assessment.
• A holistic plan built on those goals and the client's risk tolerance, using independent third-party research and covering income planning, asset maximization, legacy planning and tax strategies.
• Recommendations and implementation, using forms that are pre-populated and signed electronically.
• An ongoing relationship with regular reviews to check that the plan is on track.

Three hallmarks: fiduciary, transparency, technology

The company says transparency means every step of the work is recorded and every document and report is easy to reach. Technology supports this through a secure online portal called Generational Vault, which gives clients account information, daily updates, tracking and alerts, and reports and analysis, and keeps a running record of decisions taken. Updates after reviews or life changes are available to clients around the clock.

Products on offer

Its site focuses on life insurance with living benefits, indexed universal life, which it markets as a source of tax-free retirement income, and fixed indexed annuities for retirement income. Planning topics it lists also include IRA and 401(k) rollovers and long-term care and health care planning. Those descriptions are the company's own and are not an endorsement of any product.

What the firm stands for

According to its about page, the group believes in financial literacy and wants people to have access to good guidance whatever their income or background. Its founding advisor has worked in financial services since 2012 and holds a State of New Jersey license for life, accident and health insurance as well as an investment adviser representative registration.