How do I model a current or future client disability to see the change in cash flow and any cash shortfalls?
How do I include paying off mortgage as a one-time expense in the retirement income plan?
Many clients need to include ad-hoc expenses in their retirement income plan e.g. paying off the mortgage or paying for a child’s wedding. What’s the best way to model them in the retirement income plan?
Wealth Planner Workflow
What’s the most commonly used workflow in creating a financial plan? I know you can enter in this software at any point. I just want to understand what path others are following.
Milestones in Wealth Planner
I find entering milestone names in place of dates a lot more helpful than entering individual dates. I’m wondering if I can define a milestone date for my client’s date of birth and use milestone name instead of a date. I tried it but the system won’t allow. Any help would be appreciated.
Wealth Planner
Tried the new milestone functionality. I like it. In one case it did not allow me to enter the end date. But I soon realized that it was due to a typo. Good stuff.
GoWealthPro Announces The Interface For Account Balances & Positions
Wealth PlannerTM now allows financial advisors to upload or enter a client’s account balances and position for improved and efficient financial planning.
Financial advisors create financial plans depending upon a client’s financial needs and the complexity of finances. For clients who are looking for a plan to cover a specific financial goal such as retirement income, or for clients whose needs aren’t very complex, advisors can use portfolio level information to efficiently develop goals based plans. However, for clients that require advanced cash flow based financial plans, advisors need to be able to incorporate different types of investment accounts and underlying positions. GoWealthPro has developed an open API (Application Programming Interface) that allows financial advisors to either upload, or import, or simply enter account positions and cost basis information for different investment accounts. Click here to download the full release.
REP Magazine article: Drive-Through Advice
In this article from April 2013 edition of Wealth Management magazine, journalist Lauren Barack talks about the importance of engaging clients in the financial planning process; give them something to play with. Perhaps she didn’t clearly differentiate that the Personal Financial Index® from GoWealthPro is for client education whereas the Wealth PlannerTM is for financial advisors to develop advanced cash-flow based financial plans for their clients. Here’s a link to this article.
http://wealthmanagement.com/technology/drive-through-advice
GoWealthPro Supports The Foundation For Financial Planning
GoWealthPro built and donated a version of Personal Financial Index® to help the Foundation for Financial Planning with their pro bono planning initiative.
The Foundation for Financial Planning has announced that GoWealthPro has provided its support to the Foundation for Financial Planning with the contribution of its Personal Financial Index® (PFI) technology for use in pro bono outreach activities benefiting underserved populations. The support will assist the Foundation in reaching out and sharing its mission and message to more financial planning and services professionals throughout the nation. Access to GoWealthPro’s PFI is assisting the Foundation in their ongoing support of a wide range of projects across the U.S. that offer free financial advice through non-profit groups serving those not traditionally served by the marketplace, including low- income families, military personnel and victims of disasters. Click here to download the full release.
GoWealthPro’s Dinesh Sharma to speak at T3 Conference
GoWealthPro’s Dinesh Sharma will present at T3 Conference on the importance and challenges of health care expense planning during retirement. This is a hot topic on the minds of many financial advisors.
Investment News article: Apps to streamline your practice
Most advisers can use all the help they can get with tedious and error-prone daily tasks such as prospecting, data entry and filling out client forms… The Personal Financial Index® gets the process going. The index, to which advisers can supply a customized link from their own website, provides a personal financial health benchmark that can be completed within 10 minutes.
By Davis D. Janowski
Click here to read the full story.