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NaviPlan is helping advisors show Boomers their options
Ready to start spending, the now-retiring Baby Boomer generation is creating opportunities for the financial services industry that financial planning software developers are helping advisors realize.
“Leading financial firms are capitalizing on this market trend,” says EISI’s Dr. Linda Strachan, Vice President of Product Marketing. She is quoted throughout the article High Tech Help in the December 2005 issue of Boomer Market Advisor. The article provides industry insights from key technologists and retirement planning experts into retirement distribution.
“The trick in software,” says Strachan, “is to make it as simple as possible for the advisor to use and the investor to understand.” And the latest release of NaviPlan is doing just that.
Helping advisors show Boomers what their options are, Strachan identifies key planning features in NaviPlan: “Our program features a number of pre-canned scenarios… including annuitization-to-need strategies or an alternate asset withdrawal order.”
NaviPlan includes a scenario manager for exploring multiple planning models, including various retirement dates; enables advisors to manipulate other variables, such as rate of return, fixed need, inflation, discretionary needs and life expectancy; allows advisors to annuitize to need, annuitize a percentage of assets, modify asset redemption order and incorporate probability analysis; facilitates instant side-by-side comparison of alternative plans next to the investor’s current one.
Writes Denis Storey, author of High Tech Help: “…the software also boasts enough flexibility that advisors can modify and save pre-defined scenarios to tailor them to specific client needs.”
Read the full story at: http://www.boomermarketadvisor.com/index.cfm?cid=7682&articleid=391
