Product update | NaviPlan 18.3 release

December 17, 2018 by John Heinen

about the author:

John Heinen

Chief technology officer

As chief technology officer, John provides strategic, operational, and programmatic support of our products to the greater Advicent organization, our partners, and the industry. He leverages his decades of software development and product management experience to define business and product strategies, work directly with clients in providing technology solutions, and build product and service delivery organizations that deliver results while meeting regulatory requirements.

We are excited to announce our latest release of NaviPlan® that has introduced a new Client Report Editor and improvements to the client portal. Additionally, we have added support for Intentionally Defective Grantor Trusts (IDGT) for U.S. users and enhanced private corporation functionality for Canadian users.

Client Report Editor

New presentation-ready client reports can now be created, previewed, and deployed within the Client Report Console. Administrative users can name, describe, and categorize reports; insert text and visuals with several layout options; assign plan level and advisor access; and more. Visual elements from the net worth and retirement reports – such as charts and graphs – are available for inclusion in new report creation. These options allow for reports to be easily scaled up or down based on client needs.

Pre-existing net worth and retirement reports can also be edited. Text for these reports can be modified to more closely match your firm’s brand tone. Any modification to these reports can be reverted back to their default form text at any time.

Note: To add the Client Report Editor to your current NaviPlan experience, contact us at (855) 885-7526

Client portal improvements

Account holding entry support

Account holdings can now be included in account entry within a client’s financial profile. Details such as a description, ticker symbol, and market value can be included. This change grants clients the ability to provide a greater amount of account detail and minimize additional advisor-side data entry.

Portal users in the U.S. can review their synchronized account holdings in greater detail in the “Manage accounts” pop-up. Information such as class type, quantity, price, and value can be reviewed on a per account basis. Account transaction history is also available for review.

Disability insurance benefit entry improvement

Disability insurance benefits can now be entered as either a percentage of salary or as a dollar amount. This expands entry options for clients and can be a simpler, more accurate way to enter insurance policy information.

Financial profile workflow enhancements

Any approved or delivered client plan can now be used as the basis for a client’s financial profile (previously limited to the most recent financial profile).

New trust support – Intentionally Defective Grantor Trusts (U.S. only)

Intentionally Defective Grantor Trusts (IDGT) are now available within the Estate Strategy - Trusts section of Estate Planning. The IDGT trust can be used to model a “sale” of an asset without triggering its capital gains or removing the tax burden from the trust grantor.

This additional trust option offers expanded estate planning strategies within NaviPlan.

State tax updates (U.S. only)

State tax updates consist of values that are indexed on an annual basis. These values include:

  • 2018 state tax bracket adjustments
  • 2018 state standard deduction adjustments
  • 2018 state tax credit adjustments
  • 2018 personal exemptions changes

Enhance private corporation functionality (Canada only)

Assets entered in the Other Assets section of a private corporation can now be sold. Identical to the corporation real estate asset sale strategies, these assets can be sold by going into the details and modelling all the necessary information. The sale date defaults to last plan member death, and in certain cases will be automatically sold when the corporation is wound up.

Taxes on the sale will be automatically calculated and will be reflected within the client and quick action reports.

Additional changes

Asset Classifier search change

Due to a change in the relationship between Morningstar and the providers of CUSIP data, searching by CUSIP number has been removed from NaviPlan in both Morningstar Standard and Expanded Asset Allocation models and asset classifier tools. Searching by all other Asset Classifiers and partners who provide custom Asset Classifier data will be unaffected.

We look forward to introducing additional enhancements to the newly improved NaviPlan and its client portal in the very near future. In the meantime, current users can learn more about these latest enhancements by accessing the NaviPlan learning center.

Stay up to date on future NaviPlan releases by following us on Twitter and LinkedIn.

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