News
Profiles & NaviPlan serve niche retirement planning market
It's no coincidence that financial planning technology developers like EISI are beefing up the retirement planning capabilities in their software.
Dave McClure's software review Retirement Planning Rapidly Emerging as a Software Specialty describes how the best technology on the market today is facilitating four distinct areas of practice: goal-based planning, retirement planning, estate planning, and asset allocation.
Says McClure: "NaviPlan is a strong financial planning solution. it handles not only the basics of retirement planning, but some special situations not covered by competing products."
The retirement planning capabilities of NaviPlan Standard version 10.2 include a pre-planning financial assessment, pre- and post-retirement cash-flow analysis, planning for accumulation and distribution of retirement funds, survivor income needs, disability income needs, long-term care needs, estate planning, business planning and tax analysis. Advisors can compare multiple retirement distribution and What-if scenarios side-by-side, and run a quick calculation to achieve 100 percent coverage for any goal. The Retirement Distribution Summary report is a client-friendly tool that aims to help advisors discuss retirement goals, risks, and strategies with clients. NaviPlan Extended version 10.2 provides advanced estate planning, business planning that may be critical for retirement income generation and succession planning, and tax planning. Both applications address the provisions of the Pension Protection Act of 2006, which encourages retirement savings.
Of the new versions of Profiles software to hit the street this year, McClure says: "Profiles Professional and Profiles Forecaster both offer strong and capable retirement planning tools, both focus on helping the professional understand the client's needs and turn those needs into a viable retirement plan. Continued development by EISI has only strengthened a retirement solution that is favored by financial planners and accountants."
Profiles Professional version 8.0 is a major upgrade featuring a new design to help advisors increase productivity, and new retirement analysis, planning, and reporting capabilities. Profiles Forecaster version 3.0 has been upgraded to enable advisors to create a basic plan in 20 minutes or less.
Read the full review at webcpa.com (for details about NaviPlan and Profiles, see
page 4 & page 5 of the review, respectively).
