Fiserv Inc. said USAA Federal Savings Bank has agreed to use its AdviceAmerica technology for retirement savings and distribution.
AdviceAmerica, which Fiserv acquired in June, lets consumers examine their retirement portfolios and determine how best to meet their goals. The product offers forecasting models and product recommendations.
It assesses whether people are on track to meet their retirement goals and suggests changes based on a risk profile with which they are comfortable.
"The combination of online tools and access to free advice from our financial advisers will give members the information they need to plan for the retirement they really want," Dan McNamara, the president of USAA's investment management company, said in a press release Thursday. Cheryl Nash, Fiserv's senior vice president of strategic marketing and business development for investment services, said in the release that the system lets companies offer "advanced financial planning technology while remaining on their existing platform."