eMoney Debuts a Solution for Streamlined Financial Plans
Foundational Planning is intended to help advisors establish planning relationships with larger numbers of clients.
eMoney Advisor has announced the launch of a new planning solution, Foundational Planning, available on the eMoney platform.
Foundational Planning, according to eMoney, provides a single-platform solution that can help large firms and enterprises looking to extend and scale planning across their organization and helps individual advisors establish planning-led relationships with more clients, offering an incremental, modular approach to planning.
The creation of a financial plan is regarded as complex and time consuming, with 72% of advisors saying in a 2017 Cerulli study that doing so is “a long and tedious process,” according to eMoney. Foundational Planning lets advisors meet a range of planning needs while also streamlining the process of plan creation.
Foundational Planning will be generally available in January of 2019. It offers a goals-based planning approach with its main focus on retirement, education, spending goals and asset allocation. Life insurance analysis will be added later in 2019.
The tool provides “an intuitive and scalable planning solution for both individual and corporate enterprise wealth managers” that doesn’t need as many advisor inputs. It also offers step-by-step guidance during data gathering, allowing advisors to produce more plans.
“Advisors and firms require a planning tool that’s flexible, scalable and can meet a broader range of client needs,” Jess Liberi, eMoney’s head of product, says in a statement.
Liberi adds that “because [Foundational Planning] is built on the same engine that powers our Advanced Planning tools, advisors can seamlessly transition clients to our more comprehensive tools as their financial situations evolve — eliminating the need for multiple planning technologies.”
— Check out Schwab: Quarter of Americans Would Automate Finances on ThinkAdvisor.