FPA Goes Mobile With New Retirement App

Finance Logix and FPA PlannerSearch to help consumers ‘close the loop’ by linking them to advisors

The technology firm Finance Logix and the Financial Planning Association (FPA) announced on Tuesday that FPA’s PlannerSearch service will now be featured on the Retire Logix retirement planning application for mobile devices.

Finance Logix, based in Seattle, claims more than 20,000 unique downloads for the retirement app, one that’s designed “specifically for the iPhone, iPad and Android.” It uses “innovative sliders and charts to forecast an individual’s retirement situation via an easy to use touch-screen graphical user interface,” according to the company.

“Individuals can enter all of their information into the Retire Logix application, and it will then connect them to PlannerSearch to find a qualified advisor in their area to help them achieve their goals,” said Ryanne Enyeart, assistant director of consumer services for the FPA. “It closes the loop.”

“Close the loop—that’s a very important point,” FPA spokeswoman Lynn Brackpool added. “Many people have the information, but they don’t have the ability to act on it with the help of a financial planner. This app helps them take that next step.”

FPA notes PlannerSearch consists of 6,000 of FPA members who must meet several “key criteria” and must also hold the CFP designation. It allows consumers to enter their location and the key search criteria to be connected to FPA’s financial experts in their area.

“Finance Logix is an FPA Institutional Member and they have exhibited at our conferences for many years, so we were very familiar with their product offerings,” Brackpool said, when asked about the genesis of the collaboration. “It was a natural step in our relationship to find more ways that we could work together for the benefit of FPA members and the public at large.”

According to Finance Logix, the Retire Logix app shows “how various sources of retirement income can cover an investor’s needs and wants during retirement.” 

"It's an user-friendly, intuitive app for the consumer to get a quick assesment of where they are in the retirement planning process," said Oleg Tishkevich, CEO and founder of Finance Logix. "It's not for advisors, it's for consumers, and it's meant to get the conversation started and them thinking about what they need to successfully reach their goals. The Plannersearch program then gets them that qualified help."

Using a “Money Capsule” visual display and “Retirement Timeline” charts to showcase analysis results, users can change assumptions such as annual retirement spending, retirement age, social security contributions, asset values, inflation and other inputs. The results will show whether or not an investor is on track to achieve their retirement goals and the impact that changes in the markets, their personal situation and other factors will have on their plan.

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