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Learn MoreWithin eMoney, there are three interactive planning tools, The Goal Planner, Decision Center, and Distribution Center. With each, advisors can bring plans to life for their clients and engage them in every planning aspect of their financial life.
Each tool is unique in its own way and each allows you to plan for different types of clients at different points in their lives. Below is a break down of all three tools to help you determine which to use for each client in every situation.
The Goal Planner Tool focuses on interactive cash flow based goal planning. It highlights the success of a client’s future expense goals and overall probability of success using Monte Carlo.
The Goal Planner is an ideal tool for younger clients or clients with multiple expense goals. It allows you to illustrate up to four separate financial scenarios side by side. The scenarios display the probability of financial events in the future allowing the clients to see what they need by placing what they want in perspective.
The Goal Planner also allows clients goals to be adjusted at any time by selecting the variable in each scenario and changing it to display the clients wants. As any change is updated in a scenario the Monte Carlo is re-run to reflect the change.
The Decision Center provides clients with a view of their lifetime cash flow pulled from the base facts from the current day until the assets deplete. It promotes a better visual standing as to where the client stands with their current financial condition.
The Decision Center is a great universal tool for all client types. It encourages clients to become more responsive to recommendations with the cash flow simulation. Although it has multiple uses the three main uses include: Basic Cash Flow Interactive Tool showing clients where they stand in their financial situation, showing recommendations that have been made by the advisor prior to the meeting to improve the financial situation, and addressing the clients wants by modeling the effects of important financial decisions such as making large purchases or retiring earlier.
The Distribution Center is an interactive estate planning tool. It help address a clients concerns with scenarios such as premature death and asset transfer to heirs.
The Distribution Center was built for estate planning clients. It can demonstrate the most basic to the most complex estate planning strategies. It allows multiple tabs throughout the client and spouses simulation to showcase the estate flow.
The main focus of the Distribution Center is to show how different trusts and strategies can help reduce probate for the client and spouse.
