OppenheimerFunds is developing a program for advisors on retirement income planning. Ellen Schoenfeld, v.p. and director of educational initiatives, said the program is unique because it will tie into proprietary software that advisors can use to customize withdrawal rates and other components of an investor’s retirement income plan. She declined to comment on the cost of the program, but said it would be rolled out shortly. Schoenfeld stressed that much of the educational group’s initiatives are now focused on baby boomers as they begin to retire or urgently plan for retirement.
Oppenheimer’s 75 wholesalers deliver the PowerPoint educational presentations to advisors, some of which offer continuing education credits. In addition, Oppenheimer offers some materials on the Web, sample letters for advisors to send to clients and printed material. Oppenheimer is considering offering its next program on IRA rollovers, a topic that Schoenfeld said is also aimed at boomers. She noted that the firm is now trying to streamline its educational programs for wholesalers, creating regular training at wholesaler meetings on a focused list of packages. She said one of the challenges Oppenheimer faces is the amount of material that sales people are required to master.