Income Lab

What Income Lab does

Income Lab (legally Income Laboratory, Inc.) is a Denver, Colorado-based software company that builds a guardrails-based retirement income planning platform for financial advisors, registered investment advisors, and fee-for-service planners. Founded in 2018 and operating as a privately held Delaware corporation, the company replaces vague Monte Carlo probability-of-success outputs with specific dollar spending amounts and monthly-recalculated upper and lower portfolio thresholds. Its methodology was co-developed by founder Justin Fitzpatrick with academic research conducted at MIT, Harvard, and UCLA, and has been validated through publications on Kitces.com, ThinkAdvisor, AdvisorPerspectives, and FinancialPlanning Magazine.

The platform is delivered through two subscription tiers — Core at $199/month and Pro at $299/month — with additional staff seats at $80/month and custom enterprise agreements for large advisory firms and broker-dealers. Core capabilities include guardrails-based retirement income planning, tax-aware withdrawal sequencing (Tax Lab), Social Security optimization across 9,000+ claiming strategies, a retirement stress test against 130 years of historical market data, annuity modeling, and a Life Hub holistic planning view. The Pro tier adds the Penny AI Paraplanner suite, which includes AI Scribe, AI Plan Builder, AI Interviewer, and AI Assistant, alongside practice intelligence, estate planning, and Medicare/IRMAA tools. The platform integrates with 15+ systems spanning custodians (Schwab, Fidelity, Orion, Black Diamond, Interactive Brokers, Altruist, Millennium Trust), CRMs (Redtail, Wealthbox, Salesforce), account aggregation (Yodlee), and billing (AdvicePay), and is SOC 2 Type II certified.

Income Lab serves thousands of financial advisors through a hybrid go-to-market combining product-led growth (14-day free trial with full Pro access) and enterprise field sales. Distribution is reinforced by a December 2025 channel partnership with Cetera Financial Group providing access to approximately 12,000 advisors in the Cetera network, by two 'Best in Show' wins at the XYPN LIVE AdvisorTech Expo (2022, 2023), and by sustained #1 ranking in the T3/Inside Information Advisor Technology Survey for 4 consecutive years. The company has raised approximately $13M cumulatively through SEC-registered exempt offerings between 2020 and 2025 and is led by CEO Johnny Poulsen and President & Co-Founder Justin Fitzpatrick.

Name

Income Lab

Legal name

Income Laboratory, Inc.

Website

https://incomelaboratory.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Income Lab is a Denver-based software company that provides guardrails-based retirement income planning software to financial advisors and RIAs, with a Pro tier adding an AI Paraplanner suite (Penny), 15+ integrations, and enterprise capabilities for advisory firms and broker-dealers.

Ownership category

akta.pro rank

Product category

Retirement Planning Software

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Retirement Planning & Long-Term Financial Planning Tools (FSAGADAI)

akta.pro secondary industries

Automated Rebalancing, Tax-Loss Harvesting & Tax-Optimized Investing Tools (FSAGAEAE), Workplace Wealth & Employee Investing Programs (FSAAAAAK)

Keywords

• Retirement planning software
• Financial advisor tools
• Retirement income software
• Wealth planning platform
• Advisor technology

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. SaaS Subscription - Core Plan: Core plan subscription providing retirement income planning, guardrails, tax planning, Social Security optimization, stress testing, and integrations. Billed monthly at $199 or annually at $1,990.
2. SaaS Subscription - Pro Plan: Pro plan includes everything in Core plus AI paraplanner (Penny), practice intelligence, document analysis, meeting automation, and advanced tax/estate tools. Billed monthly at $299 or annually at $2,990.
3. Support Staff Seats: Additional staff seats at $80/month per seat (or $800/year), enabling paraplanners and team members to access the platform.
4. Enterprise Agreements: Volume licensing, SSO/SAML, dedicated success management, and custom onboarding for large advisory firms and broker-dealers.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

Income Lab develops a SaaS retirement income planning platform for financial advisors that replaces vague Monte Carlo probability-of-success scores with risk-based guardrails providing specific dollar spending amounts and adaptive triggers. The platform integrates tax-aware withdrawal sequencing, Social Security optimization, stress testing against 130 years of historical data, annuity modeling, and an AI paraplanner suite (Penny) that automates plan building, meeting notes, and client onboarding.

Product overview

Income Lab is a retirement income planning software platform designed for financial advisors, offering a unified solution with multiple integrated modules. The platform consists of two subscription tiers: Core ($199/month) for foundational retirement planning with guardrails-based spending, tax planning, Social Security optimization, and stress testing; and Pro ($299/month) which adds the Penny AI productivity suite including AI Paraplanner, Plan Builder, Interviewer, Scribe, and Practice Intelligence. Core planning tools include Retirement GPS (guardrails-based income planning), Tax Lab (withdrawal sequencing and Roth optimization), Social Security Optimizer (9,000+ strategy analysis), Life Hub (holistic visualization), and Retirement Stress Test (historical scenario testing). The Pro tier adds estate planning suite, Medicare/IRMAA planning, document analysis, and enterprise features including SSO and team permissions. All plans integrate with major custodians (Schwab, Fidelity, Orion, Black Diamond) and CRM platforms (Redtail, Wealthbox, Salesforce).

Differentiator

Problem solved

Functional benefit

Brands

• Penny: AI Paraplanner - AI-powered tool that helps advisors build plans from meeting notes, answer questions about client plans, and identify planning opportunities across client base.
• Retirement GPS
• Tax Lab
• Life Hub
• Social Security Optimizer
• AI Plan Builder
• AI Interviewer
• AI Assistant
• AI Scribe
• Retirement Stress Test
• Income Lab Pro

Products and services

• Retirement GPS Guardrails-based retirement income planning tool that tells financial advisors and their clients exactly how much can be spent each month in dollar terms, with adaptive spending plans and upper/lower portfolio thresholds that trigger adjustments.
• Tax Lab Tax-aware withdrawal sequencing across account types, optimal Roth conversion amounts with bracket management, and marginal tax rate visualization across federal, state, IRMAA, and ACA for retirement clients.
• Social Security Optimizer Social Security claiming strategy optimization analyzing 9,000+ claiming combinations per household, including divorced-spouse and survivor benefit modeling, to identify optimal timing and maximize lifetime benefits.
• Life Hub Holistic planning visualization tool showing every income source, expense, asset, and liability on a single mind map screen, enabling advisors to anchor client conversations around a unified financial picture.
• Retirement Stress Test Stress testing tool that visualizes how retirement income plans behave through real historical periods (Global Financial Crisis, Dot-Com Bubble, 1970s Stagflation, Great Depression) using spending adjustments rather than portfolio failure as the outcome measure.
• Annuity Planning Software Annuity modeling and comparison tool covering Fixed Index Annuities, Variable Annuities, SPIAs, DIAs, and RILAs with stress testing and head-to-head return scenario analysis for retirement income planning.
• Penny AI Paraplanner AI-powered paraplanner purpose-built for retirement income planning that interprets guardrails results, answers advisor questions about client plans in plain English, verifies calculations against the CBO tax model, and surfaces opportunities across an advisor's entire client base.
• AI Plan Builder & Updater AI tool that ingests prior plans, intake forms, custodian exports, and meeting notes to automatically construct or update a client's retirement plan, eliminating manual data entry for advisors.
• AI Scribe AI meeting assistant that joins Zoom calls, records client conversations, parses action items, assumptions, and decisions, and auto-updates the retirement plan before the advisor leaves the meeting.
• AI Interviewer Guided client onboarding questionnaire tool that asks clients financial planning questions at their own pace and feeds responses directly into the plan, requiring no advisor data entry.
• AI Assistant AI assistant that answers natural-language questions from advisors about a client's retirement plan using verified actual plan numbers rather than AI guesswork.
• Practice Intelligence Practice-wide intelligence tool that scans an advisor's entire client base to surface planning opportunities such as Roth conversion windows, IRMAA cliffs, tax-loss triggers, and other actionable items across every household.

Quantifiable outcome

• Replaces 82% probability of success with specific monthly spending amount (e.g., $8,200/month) and guardrails showing exactly when spending adjusts
• +4 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration20 records

AI capability9 records

Feature9 records

Partnerships

Eleven partnerships are on record, tiered core.

• Cetera Financial GroupcoreChannel Partner/ Reseller/ Distributor · 15 December 2025Income Lab partnered with Cetera Financial Group to provide retirement planning software to approximately 12,000 financial advisors and institutions within the Cetera network. The partnership enables Cetera advisors to deliver scalable, tax-smart, and dynamic retirement planning tools that adapt to market changes and evolving client needs.
• Charles SchwabcoreTechnology or IntegrationIntegration partnership enabling data import from Charles Schwab custodian accounts into Income Lab plans.
• FidelitycoreTechnology or IntegrationIntegration partnership enabling data import from Fidelity custodian accounts into Income Lab plans.
• OrioncoreTechnology or IntegrationIntegration partnership enabling data import from Orion portfolio management system into Income Lab plans.
• Black DiamondcoreTechnology or IntegrationIntegration partnership enabling data import from Black Diamond reporting platform into Income Lab plans.
• RedtailcoreTechnology or IntegrationCRM sync partnership with Redtail for seamless workflow integration with Income Lab planning platform.
• WealthboxcoreTechnology or IntegrationCRM sync partnership with Wealthbox for seamless workflow integration with Income Lab planning platform.
• SalesforcecoreTechnology or IntegrationCRM sync partnership with Salesforce for seamless workflow integration with Income Lab planning platform.
• YodleecoreTechnology or IntegrationClient-credentialed account aggregation through Yodlee, allowing clients to link accounts with holdings and balances staying current without manual updates.
• Interactive BrokerscoreTechnology or IntegrationIntegration partnership enabling data import from Interactive Brokers custodian accounts into Income Lab plans.
• AltruistcoreTechnology or IntegrationIntegration partnership with Altruist custodian platform for seamless data import.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• RightCapital: RightCapital provides financial planning software for RIAs and fee-for-service advisors with retirement planning, tax planning, and Social Security optimization features that directly overlap with Income Lab's core offerings.
• BluePrint Income: BluePrint Income provides retirement income and annuity solutions for advisors, directly overlapping with Income Lab's retirement distribution and annuity planning capabilities in the decumulation category.
• Nitrogen (formerly Riskalyze): Nitrogen offers risk tolerance assessment and financial planning software for advisors with integrated risk and planning workflows; it competes with Income Lab for advisor mindshare and tech-stack budget, and is also an integration partner.
• eMoney Advisor: eMoney Advisor (owned by Fidelity) is a leading financial planning software platform serving financial advisors with comprehensive planning tools including retirement income planning. It is the most direct competitor to Income Lab in the advisor-facing planning software category.
• MoneyGuidePro: MoneyGuidePro (owned by Envestnet) is one of the most widely used goal-based financial planning platforms for financial advisors, with overlapping retirement income and distribution planning capabilities directly comparable to Income Lab.

Emerging players

• Holistiplan: Holistiplan is an emerging tax planning platform for financial advisors that overlaps with Income Lab's Tax Lab module (Roth conversion, withdrawal sequencing), making it a partial competitor as well as a potential ecosystem partner.
• Boldin (formerly NewRetirement): Boldin offers retirement planning software originally focused on consumers but expanding into the advisor market, competing for retirement income planning workflows with overlapping capabilities to Income Lab's Retirement GPS.
• fpPathfinder: fpPathfinder provides financial planning content, checklists, and tools for advisors; it is also an Income Lab integration partner and competes for advisor planning workflow budget with an adjacent, less quantitative offering.

Broad incumbents

• Orion Advisor Tech: Orion provides portfolio management, reporting, and increasingly financial planning tools to RIAs and broker-dealers; Income Lab integrates with Orion, and Orion's broader wealth platform represents both a partner and a competitive threat.
• Black Diamond (Adventri): Black Diamond (now part of Adventri) is a portfolio reporting and wealth management platform for advisors; Income Lab integrates with it, and Black Diamond's broader platform competes for the same advisor tech-stack wallet share.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/WeAreIncomeLab
• YouTubeyoutube.com/channel/UCwp7nbTCPI5d4DK3u1RG4wg
• Facebookfacebook.com/incomelab
• LinkedInlinkedin.com/company/income-lab
• Instagraminstagram.com/weareincomelab

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds7 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Income Lab