Sponsored by Covisum
The fintech solution you've been looking for has arrived: Covisum's Income InSight™. This all-in-one planning software mirrors the way the most effective advisors move clients to action. Income InSight helps you provide clients with direct and specific answers to their most pressing questions through deep integrations with Social Security Timing®, Tax Clarity®, and SmartRisk™ while providing a natural transition to the broader retirement income plan.
Do you want to streamline your practice, provide smarter retirement advice, illustrate your value and add more to your clients' bottom line? Get your free trial to see how Income InSight:
- Shaves hours off prep time for both prospective clients and annual client review meetings
- Delivers clear recommendations to individual client questions and easily transitions to the broader plan
- Exposes gaps in guaranteed income
- Provides smarter retirement advice by using the best, data-driven financial calculations available in the industry
- Illustrates your value clearly
What Should I have in my tech stack?
Technology has been able to help increase an advisor’s bottom line as well as make a positive impact on people’s lives. But as more financial questions are being analyzed with technology and more specialized planning and practice management tools are introduced, a new challenge is emerging in financial planning: understanding and building the right tech stack for your business.
A successful financial planning business begins with a clear understanding of the customer – your niche. From there, it involves refining advice specifically to the customer’s interests. As the financial services industry evolves, more and more technology has been introduced. But, with all this tech, how do you reconcile your advice? How do you ensure that one tool in your process doesn’t conflict with another?
The industry’s answer to this problem, so far, has been loose integrations among several software tools, but these “integrations” don’t cut it. The future of the financial services industry is a platform that invisibly weaves multiple decision engines together. The industry’s standard integrations may be costing you time because many of them cause issues that need to be reconciled between the systems. Different tools have different assumptions and the “integrations” that were sold to you to save you time on data entry just cost you time, frustration, and even reputation when you have to explain your clients that the tools you use have different methodologies and they simply can’t be made to agree with each other.
Covisum’s Income InSight simultaneously raises the value you provide to clients and the return on your time and capital, while avoiding the quality trap that has plagued industry after industry. Our tools equip advisors who serve mass-affluent and affluent people in retirement and retirement transition. Specifically, we believe that Social Security, tax, and risk are three of the most critical considerations for this group, so we’ve incorporated our decision engines for each of these core elements into this overall retirement income planning tool. We know that insurance decisions are important to these clients, so we’ve built a high level of detail into our annuity and life insurance modules and we know that you need to be able to communicate the value you deliver, so we include seminar presentations and other marketing tools with every subscription.
Income InSight delivers what you would expect from a retirement income software:
- Detailed tax-sensitive cashflow projections
- Tax-efficient distribution patterns
- Stress tests
- The ability to model the impact of life, long-term care and annuities
- Visual balance sheet
But we don’t expect you to go market financial planning – frankly – that's not how the most productive advisors grow their businesses – they grow by narrowing in on a client question and answering that question better than anyone else – delivering real expertise that is relevant to their specific client base.
Use Income InSight to answer client questions like:
- Will my money last?
- Will I have extra?
- What can I do better?
- Which account should I withdrawal from, and when, to meet my needs?
- How much can I spend?
- What impact would a market decline have on my portfolio?
- What if my spouse dies?
- What if I have a long-term health issue?
Try our planning software built with a clear understanding of how the strongest advisors grow their business. Get your free trial of Income InSight today!