The definition is correct for innovation. As a research scientist, innovation is a much more profitable endeavor than invention. The innovation of outcome oriented income products should not be a recent development. All retirees have that as a goal. I have sampled my peer group( 58-63 year old investors) and they are without exception outcome oriented, income focused, and not interested in consuming principal or capital. They desire to consume dividends and interest. While the advisor community has focused on total return, their customers/ clients want to anchor their capital and generate an income stream. This disconnect is not the fault of the investor. Annuities continue to attract customers due to their appeal for defined outcome. Obviously, you give up capital preservation. Your challenge is to define portfolios that will satisfy the desired outcome without sacrificing capital preservation.