NaviPlan and Profiles financial planning software offer superior retirement scenario analyses and client management
Dave McClure, in his Accounting Today financial planning software review, features NaviPlan and Profiles in his list of the nine most notable retirement planning tools for 2009. McClure describes how retirement planning software vendors have updated their software to reflect the need for robust retirement scenario capabilities to help advisors respond to the recent market turmoil and economic recession.
NaviPlan Standard & NaviPlan Extended
McClure illustrates the ability of the NaviPlan suite to support the planning needs of every client segment. He states, “NaviPlan Standard qualifies the client, assessing their financial situation, priorities and goals. Three levels of planning are available within this version, to provide for clients who are wealth accumulators, mass-affluent clients and high-net-worth clients. NaviPlan Extended is a more elite planning tool designed for advisors who deal with high- and ultra-high-net-worth clients.”
In reference to NaviPlan Standard’s pre-defined retirement scenarios, McClure says, “NaviPlan Standard is a quick planner that offers pre-set scenarios for sophisticated retirement distribution scenarios and side-by-side "what-if" comparisons. Retirement distribution scenarios can be augmented with system-generated strategies that automatically calculate 100 percent coverage for any goal.”
McClure describes the flexibility of the NaviPlan ASP platform that enables advisors to work anywhere, “A subscription to NaviPlan Central includes an offline format of NaviPlan software that can be installed locally on an advisor's desktop or laptop computer. Advisors simply check out plans from the NaviPlan Central online database, create and update plans without an Internet connection, and later check-in updated and new plans.”
Profiles Professional & Profiles Forecaster
McClure talks about the features that appeal to advisors in Profiles Professional v9.0. “Profiles Professional offers accountants stronger client relationship-building, streamlined data entry and enhanced presentation tools in a modular format that strongly appeals to accountants. It offers consistent and superior capabilities in scenario evaluation and client/case management that should be of particular interest to accountants with diversified retirement planning needs.”
For those advisors who need quick results to make the sale, McClure describes Profiles Forecaster, a less comprehensive program that creates basic plans in 20 minutes or less. He states, “It offers retirement planning, survivor needs, disability needs and long-term care needs, but not some of the more extensive allocation, disbursement and estate planning services available in Profiles Professional.”
Read the full review at WebCPA.com.