How Advicent technology simplifies complicated planning

June 9, 2017 by Tony Bevan

An advisor discusses finances with a client using financial planning technology

about the author:

Tony Bevan

Vice president, enterprise accounts

Tony has over 15 years of software development experience in the financial services industry. He is knowledgeable in all aspects of product development and implementation at Advicent.

“From simple to sophisticated” is a phrase that Advicent uses consistently when referring to the scalability of our technology. What does it mean to you, the advisor? Simply put, it means that through our products, you can input basic planning information about a client’s financial situation and create a snapshot of their current situation quickly and easily. Then, through simple workflow rules by promoting to a more complex planning level, you can take the basic planning information and create a more complex financial plan.

There are a large number of simple calculators in the market that can quickly tell a client about their current situation. Yes, they can create a basic goal-based plan. But that is where the effectiveness of a quick plan ends and the sophistication of NaviPlan® begins. Through the use of Scenario Manager within NaviPlan, advisors can model alternative planning scenarios and make recommendations on nearly every aspect of the client’s current financial situation.

NaviPlan enables advisors to take a simple goal-based plan and complete a detailed analysis of their clients' cash flow situation for every year from today until death, allowing the advisor to drill into deficit coverage strategies and assess the impact on the plan.

Making financial planning simple and efficient

This is where Advicent makes the sophisticated simple. Advicent does this by having available standalone reports that are accurate and auditable for the advisor to support their recommendations.

The NaviPlan Planning Assistant supports the advisor by indicating if there are any problems, questions, or opportunities in the plan. A progress report that allows the advisor to easily update plan data to track progress towards their goals during annual review meetings. Additionally, Narrator® Clients brings the financial plan to life by allowing a client to view their plan 24/7 and collaborate with their advisor whenever their financial situation changes.

In addition to industry-leading technology, the Advicent professional services team aids in our mission to simplify the sophisticated. Advicent provides best-in-class virtual and in-person training sessions that allow advisors to quickly become familiar with NaviPlan.

Advisors who have completed the NaviPlan training have experienced results similar to the following:

  • "After completing the training, I now feel very comfortable with the tool and understand [clients] only need to get into the detail if needed.”
  • “The Presentation Module makes the planning conversation more impactful to my clients’ personal situation rather than speaking generally.”

As the industry’s most powerful and flexible financial planning application, NaviPlan allows you to truly accommodate all client needs, from simple to sophisticated.

Download our whitepaper to learn how financial planning technology can simplify the sophisticated.