Invest in a sure-thing: Profiles and NaviPlan are must-have planning solutions
Ted Needleman, in his financial planning software review for Accounting Today, says these volatile market conditions have turned even the most basic financial analysis into a moving target, which means advisors are looking to invest their technology dollars in a sure-thing. EISI’s four top-selling applications are included in Needleman’s recommended toolkit.
NaviPlan Standard / NaviPlan Extended
Needleman says the NaviPlan product line is a basic requirement for planners who are looking for a comprehensive, affordable planning system. “They [NaviPlan Standard and NaviPlan Extended] cover the spectrum of planning needs nicely,” he writes.
The less-expensive NaviPlan Standard delivers financial calculators, a needs analysis, risk analysis, Monte Carlo analysis, asset allocation options, and specific goal-based planning for retirement, education, major purchases, and disability. For $500 more, advisors can pick up NaviPlan Extended, which includes a more advanced estate-planning module, more advanced income tax planning and estimation, employee stock options, and other more sophisticated features. Both applications can import data from Albridge Solutions and several clearinghouses.
“We found the software easy to install, and easy to use,” he writes. “…Experienced financial planners should have little, if any, difficulty using the applications, especially with the Planning Assistant™ wizard to walk you through the process. The reports are excellent, and present the findings in a manner that's both impressive and understandable.”
Profiles Professional / Profiles Forecaster
Needleman says that although the NaviPlan and Profiles product lines are functionally similar, EISI does a good job of targeting each application at a specific practice. “This variety allows a planning practice to zero-in on a planning system that meets their needs, while letting the practice avoid spending extra on features and functions that aren't needed.”
Where Profiles stands apart is with its modular planning approach. Profiles Professional has modules for cash flow, specific goals (retirement, education, major purchase, long-term care and survivor needs), basic estate planning, income tax analysis, employee stock option impact, and business continuity planning. Profiles Forecaster, the little brother application, is a more affordable tool with a narrow feature-set for doing goal-planning. Optional features are available for purchase for both applications.
Read the full review at WebCPA.com.