ST. PETERSBURG, Fla. – Raymond James is introducing Goal Planning & Monitoring ─ an innovative new financial planning software solution, powered by MoneyGuidePro® ─ to its financial advisors throughout the firm.
“Goal Planning & Monitoring (GPM) will revolutionize how our advisors develop retirement and other goal plans for their clients, as well as the way they interact with those plans going forward,” stated Patrick O’Connor, senior vice president, Wealth Management Solutions. “It’s an elegant and effective tool that enhances the close collaboration between advisors and their clients as they work together to align financial decisions with their unique vision of retirement and other highly personalized goals.
“GPM is a perfect example of the investments we’re making in technology to support advisors while reinforcing our firm’s 50-year history of emphasizing financial planning as an integral part of a client-centric advisory process,” added O’Connor. “With GPM, advisors at Raymond James can create a living plan that uses the client’s unique goals and priorities as the foundation of their ongoing recommendations. With a single click, they can revise a plan with up-to-date holdings and values, making it more efficient to use in ongoing client review meetings.”
GPM enables advisors to customize the level of planning they do for each client in a streamlined workflow. A robust retirement analysis can be created in minutes with minimal data input, given integration with Raymond James client information and intelligent defaults. Additionally, features that allow more sophisticated analysis for business owners or executives can be incorporated into the workflow with a single click.
GPM provides highly visual outputs for the client in a variety of forms based on the advisor’s individual approach. Plan results can be presented on an iPad, a monitor in the advisor’s office, the firm’s Investor Access client site or with intuitive printed output. It also offers interactive “what if” tools such as PlayZone®, a Social Security optimizer and a series of realistic “stress tests” to enable advisors and their clients to easily test changes or potential risks to their plans with little effort. Once a plan is adopted, GPM lets advisors track their clients’ progress toward attaining their goals over time.
Following months of pilot testing by more than 200 Raymond James advisors, a phased rollout of GPM begins this week. It will be introduced to all Raymond James advisors and branches over the next three months along with extensive educational programs, hands-on training sessions and dedicated support from the firm’s Wealth Management Solutions group.
Raymond James advisor and pilot participant Kevin Sletten of Peoria, Ill., said, “I presented our first plan to a client yesterday, and it was amazing; this program is a game changer for us.”
GPM is the latest enhancement to Advisor Access, the technology platform introduced to Raymond James advisors earlier this year.
“When we launched Advisor Access, we promised advisors that Raymond James technology would become a differentiator,” said Vin Campagnoli, senior vice president of Private Client Group Technology Strategy and Development, “This new GPM functionality, integrated with Advisor Access, is the next piece of that plan and takes our advisors one step closer to having one of the strongest technology platforms in the industry.”
Bob Curtis, CEO of PIEtech, creator of MoneyGuidePro, stated, “We are excited to be part of the Advisor Access platform. I personally attended the Raymond James national conferences this year and was extremely impressed by the enthusiasm shown by advisors for Goal Planning & Monitoring. It is clear that Raymond James and its advisors are committed to providing the highest-quality financial planning experience to their clients.”
About Raymond James Financial, Inc.
Raymond James Financial (NYSE-RJF) is a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Its four principal wholly owned broker/dealers, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC; Raymond James Financial Services, Inc., member FINRA/SIPC; Morgan Keegan & Co., Inc., member FINRA/SIPC (branded as Raymond James | Morgan Keegan) and Raymond James Ltd., member Investment Industry Regulatory Organization of Canada/CIPF, have over 6,000 financial advisors serving 2 million accounts in over 2,500 locations throughout the United States, Canada and overseas. In addition, total client assets are approximately $375 billion, of which approximately $40 billion are managed by the firm’s asset management subsidiaries.
About PIEtech, Inc.
PIEtech, Inc. is the developer of MoneyGuidePro®, the industry’s leading web-based financial planning software. MoneyGuidePro makes it easy to provide sophisticated yet understandable plans that engage and motivate clients, so they make better choices, take action and stick with it through hard times.
For more information, please contact Anthea Penrose at 727-567-2824.
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