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.