During the opening of eMoney’s annual virtual summit, the company gave an overview of several upgrades to its platform, along with plans for the coming months.
Currently-available enhancements include a Tax Bracket Report and Automated Bracket-based Roth Conversion in the Decision Center; an updated Plan Summary Report that creates custom reports for each client; and new Multi-View functionality for collaborative planning with clients through personalized dashboards.
Tom Sullivan, head of product, said feedback from advisors was a “major driver” in deciding which features to upgrade.
“Human-centric advice planning is in demand and will continue to be so,” he said. “We remain focused on creating more intuitive workflows.”
On the advisor portal side, full, unlimited editing will be available in the Decision Center soon.
eMoney is also on track to double the number of reports this year, with additions such as interactive tax planning charts and life insurance features. Forthcoming enhancements include new reports on secure income, insurance premiums, income taxes, assets and more.
Life Insurance Gap Analysis and Retirement Age solvers launched in 2023, the Minimum Additional Savings solver is expected later this year and additional Insights will be released in 2024.
Earlier this year, a new Progress report launched in the Decision Center. Next year, the report will evolve to show a client’s plan over time.
Chad Porche, senior vice president of product management, said much of eMoney's recent planning development work focused on consolidating the workspace into Decision Center.
Firms will also have the ability to distribute portals to clients using an API by the end of 2023; and will be able to segment clients or prospects based on certain criteria.
“APIs unlock unique and personalized information in financial plans,” said Ricky Illigasch, vice president of product management. “End consumers demand personalization.”