Announcements from Advisor Software and Pacific Life highlight mobile technology’s increasing influence on the way advisors do business.
Advisor Software announced on Wednesday the launch of a new iPad app for consumers designed to help them visualize their financial goals.
The app, goalGetter, allows consumers to drag icons representing financial goals like buying a house and paying for college or retirement onto a savings timeline. The app computes the affordability of the goal based on a user’s savings and annual growth rate, and determines how much the user would need to set aside each month.
Consumers can then email the findings to their spouse or advisor to create a more detailed plan.
"This is our attempt to educate the market on goal tradeoffs,” Neal Ringquist, president and COO of Advisor Software, told AdvisorOne.
For advisors, the app is one of the “various tools they can use to complete and manage this difficult task,” Ringquist added.
Pacific Life’s Retirement Solutions Division has also launched an iPad app for the firm’s sales team. The company announced on Wednesday that it has launched the iPad 2 among its field sales team along with a proprietary CRM app and performance coaching tool.
“We recognized the power of the iPad 2 and the breakthrough advantages it brings,” Chris van Mierlo, senior vice president of sales for Pacific Life’s retirement division, said in a statement. “To be effective, we armed our sales team with a mobile device that simplifies daily activities.”
A team of wholesalers and technology engineers piloted the iPad earlier this year to determine how to incorporate it into a mobile strategy.
“We got there through a rigorous research and development process that became a state-of-the-art technology solution that delivers information in real time,” van Mierlo added.
The app is run on a cloud-based platform that works across multiple browsers. According to van Mierlo, cloud technology will bring advantages in automation, rapid time-to-market, and real-time updates of marketing materials and presentations.
“This translates into an engaging and dynamic experience between Pacific Life field wholesalers and the financial professionals with whom we do business,” he said.