News
NaviPlan helps advisors accomplish more in less time
Improving advisor efficiency is what financial planning software is designed to do. In the June 2006 issue of NAPFA Advisor, Dr. Linda Strachan, VP Product Marketing, EISI, explains which process improvements are key.
"It's important to partner with a technology vendor that understands your needs and continually adapts its products," says Strachan. "At EISI, we work closely with advisors and firms to set the direction for NaviPlan software enhancements."
In response to recent input, the latest enhancements to EISI's NaviPlan product line are enabling advisors to engage clients more quickly, foster deeper client relationships, and create more plans in less time.
"When creating a financial plan, accurate data entry may be the most important step in the process, but it can also be the most tedious," Strachan concedes. To address this issue, NaviPlan now presents advisors with fewer data entry fields and a 'drill-down' option that allows advisors to increase the level of detail if required.
Pre-planning tools help engage new clients. The early stages of a client relationship are critical, explains Strachan, which is why NaviPlan has been designed with a pre-planning Financial Assessment that helps advisors quickly (in 5-7 minutes) provide clients with a look at their current financial situation. Advisors can then promote data gathered at the Financial Assessment stage to any NaviPlan analysis level to access additional planning features.
Promotable levels in NaviPlan mean less data entry. "This flexibility has multiple potential uses," says Strachan. A flexible, multi-level approach enables advisors to treat all client cases from all wealth segments. Advisors who are looking to provide less detail to the mid-market can scale back plan size. As planning needs increase, advisors can easily increase the level of detail.
