Tool allows advisers to connect the dots between plan an action item.
PIEtech Inc., maker of the goal-focused financial planning software MoneyGuidePro, today announced the launch of Executive Summary, an interactive tool that allows advisers to automate the review of actions related to a client's financial plan.
“Action items” are defined by MoneyGuidePro as methods of achieving a client's financial goals, such as increasing 401(k) contributions, purchasing additional insurance, or reallocating an equity portfolio. These tasks “usually had to be performed manually by the adviser,” said Joe Miller, PIEtech's vice president of practice management for MoneyGuidePro. “Executive Summary automatically generates action items based on the action-goal plan.”
This could benefit both the client and the adviser. The platform allows clients to watch the implementation of their plan with easy web access through MoneyGuidePro's Smart Portal, Mr. Miller said. In addition, advisers “who have historically failed to connect the dots between plan and action item,” can automate this process.
Executive Summary, beyond giving the client and the adviser the tools to navigate MoneyGuidePro's goal-focused investing approach, provides a consolidated interface in which clients can evaluate the effectiveness — or results — of an action item based on the predetermined goals outlined in their financial plans.
“Advisers traditionally had to create an executive summary manually in a Word document,” Mr. Miller said. “Now they can go about it through an automated system.”
