News
EISI / NaviPlan on top of the retirement planning evolution
The progression of Baby Boomers towards
retirement is calling for a paradigm shift in financial
planning that requires planners to acquire new
skills, and the developers of their analytical
tools to revise the technology.
Ed McCarthy, CFP®, explains how recent insights are changing the way planners and financial planning software developers model retirement cash flows and advise clients on their best course of action in the March issue of The Journal of Financial Planning: Planners Demand More from Financial Planning Software.
Providing expert advice on the topic of financial planning software development for the article is Dr. Linda Strachan, CFP®, Vice President of Product Marketing at EISI/ NaviPlan. EISI is recognized for its responsiveness to change in the industry, and receives feedback regarding product development from its user groups in the U.S. and Canada and from a steering committee that represents its largest clients.
In the article, Strachan comments on how feedback has shaped the latest release of NaviPlan: "We hear a lot about the go-go, slow-go, and no-go phases in retirement… Version 10.0 recognizes that retirees aren't always spending the same amount of money; the program also differentiates between fixed expenses and discretionary expenses."
Looking ahead, Strachan forecasts that retirement distribution planning will continue to grow in importance. Writes McCarthy: “She notes that several financial services organizations have recently approached EISI to express their interest in distribution-planning software for their organizations.”
Read the full story in The Journal of Financial Planning: Planners Demand More from Financial Planning Software.
