Common questions when implementing NaviPlan

June 29, 2018 by Matt Marcum

about the author:

Matt Marcum

Sales enablement lead

Matt is a 2009 graduate of the University of Michigan and has worked in multiple roles at Advicent. He loves talking about financial planning and the value it brings both to advisors and to their clients. When not discussing FinTech trends with advisors, he enjoys spending his time outdoors with his wife and their dog.

Despite being an incredibly large and diverse industry, the financial services profession does encounter a number of common challenges. In today’s blog, I will look at three of the most commonly discussed roadblocks and how Advicent solves for them.

“Can we really use NaviPlan to consolidate down to one planning tool?”

This question is really asking about the concept of scalability. As previously mentioned, the financial services profession produces many advisors that have different goals and compensation structures. This can even be true within the same organization. To address this, NaviPlan offers the forecaster assessment to quickly uncover a client’s goals and highlight any immediate shortfalls.

The forecaster assessment is so perfect for scalability because of how it is integrated into the NaviPlan platform. While the needs-based analysis of the forecaster assessment may be perfect for a quick life insurance recommendation, it can also be used as a part of the fact-finding process during the first meeting with a prospect. Any data received through the forecaster assessment can then be promoted into other, more robust planning levels within NaviPlan. 

"How does Advicent help us with our sales process?"

Whether selling life insurance, investment products, or financial plans; having a defined and repeatable process is critical for every firm. However, since each firm has their own unique value proposition and story, differentiation is critical to that sales process. To help differentiate, NaviPlan provides the presentation module.

The presentation module is unique to NaviPlan in that it allows a field agent to work collaboratively with any client in a defined and consistent process. Since each screen in the presentation module has inputs that link directly to NaviPlan, it is tied directly to the best calculation engine in the industry. Furthermore, the presentation module can be branded and designed to reflect the firm's identity. Each presentation is a collaborative process between the client and advisor, highlighting different products and recommendations that can benefit the client.

How can this fit within our client journey?"

Many firms, especially after implementing their own custom presentation module, are curious about how Advicent can help at the beginning and end of their client journey. For this purpose, we have created the NaviPlan client portal. The client portal is a turnkey solution that offers multiple functions, such as client onboarding, information updating, account aggregation, and interactive “explore my options” goal planning.

The NaviPlan client portal is a unique application because it exists for both the independent and enterprise space. It has a modern, streamlined design that makes it appropriate for independent usage without a need for customization, but can also exist as part of an already established digital strategy through i-framing for our enterprise partners.

In conclusion

The NaviPlan platform is unique because of its roots in enterprise implementation. Advicent has decades of working within the confines of many different enterprise stories and needs. This experience has allowed NaviPlan to scale to any user and end client need. 

To learn more about the Advicent experience and our world-class training, click here.