The New Monte Carlo Solver Option for Decision Center

Last month, we released a highly requested enhancement to the Insight section within Decision Center. With Monte Carlo calculations now available for solvers, you can easily set your client’s desired probability of success and see how to achieve the results the client, or advisor is seeking—without having to guess or make multiple adjustments.

The first time you visit the Decision Center, we’ll prompt you to set your target probability of success within the Options menu. Then you can run the solver for the desired probability of success, apply it to the client’s plan, and even Save to Base Facts to implement the recommendation on their plan.

Note: While Monte Carlo will be the default option, you can switch back to straight-line calculations at any time using the Options menu. Users can save a default probability of success so you do not need to enter it every time within Decision Center.

You will also notice that the existing options have been split into Solvers and a new Optimizers category. The Liquidation Strategy solver is designed to maximize the wealth left at the end of a plan, rather than provide large-scale solutions for plans not currently on target. For this reason, this solver is unavailable for Monte Carlo since the results provided by the solver are unlikely to be large enough changes to produce significant shifts in Probability of Success.

Stay tuned for more updates to Decision Center in the coming months!