The Gen III white label robo advisor built on best practices

A Robo advisor….but so much more

True, miPlanPlus does everything a traditional Robo advisor does, but characterizing it as just a Robo advisor is selling the application short – it offers so much more! miPlanPlus is designed as a “white label” product that can seamlessly be integrated into any financial institution’s platform, and to this end, versatility is key – our intention is to provide financial institutions with a tool that accommodates a wide variety of different workflows and processes.

Planning

miPlanPlus has a very robust planning process with the following features:

• Projections modelled using graduated tax rates, providing a much higher degree of accuracy than average tax rates;
• Government benefits, private pensions, inheritances and other lump sums can be incorporated to produce a more complete and meaningful plan;
• Both on and off-book assets included;
• Tax-deferred plans properly treated;
• Comprehensive “what-if?” modelling available for both clients and advisors;
• Ongoing monitoring of actual results and comparison with the Plan at the periodicity chosen by the financial institution or the client.

Profiling

Our proprietary Professional Judgement Matrix^TM takes the discovery process well beyond the usual minimalist “check the box” approach and captures all the dimensions needed to accurately define a client’s investor profile. Risk tolerance is measured using the award-winning FinaMetrica risk profiling tool, and the result is enriched with several other measures of risk, all of which translates into a discovery process fully consistent with industry best practices in this critical area. As a result, financial institutions have the comfort of knowing that when investors agree to purchase the portfolios recommended to them, they are giving truly informed consent with a full understanding of the potential consequences and alternatives.

Collaboration

The future of financial planning will involve a lot more collaboration, with clients taking on their share of the work. This is one area where miPlanPlus really shines because of the user-friendliness of its interface, and the technological architecture underpinning it.

miPlanPlus is powered by the same underlying engine as PlanPlus Planit – the much more sophisticated planning application we market to financial advisors and institutions. Thanks to this architecture, clients can do a first round of data entry and explore alternatives with miPlanPlus “what-if?” functions, then hand things over to the advisor who refines the plan with PlanPlus Planit. Thanks to the design of our architecture, data is input once, but available anywhere it is needed via application protocol interfaces (APIs).

 Product recommendations

With the investor profile determined and the plan’s assumptions and projections accepted by the client, miPlanPlus has everything needed to make a portfolio recommendation.  We map the financial institution’s proprietary asset mixes for its model portfolios to the spectrum of investor profiles it has defined. A series of analytics incorporated into this section of miPlanPlus uses historical returns to show how a portfolio with an asset mix similar to the one recommended for a given client performed under adverse conditions, providing a final check that the “fit” is a good one. Among other things, we show the potential for loss in past bear markets and number of months taken to recover from such losses. This section is also be used to disclose the underlying securities making up the recommended portfolio and the costs associated with it.

Interested in finding out more?

This provides you with a thumbnail sketch with some of the features built into miPlanPlus. Want more information?  Click here to download our product brochure.

Classroom Advocacy Training

In any corporate deployment it’s advantageous to have in house advocates who can become “process owners” or “champions” who help users adopt the software as part of their normal operating style. This can dramatically improve the corporate adoption of new technology solutions. These in house advocates are developed through “Advocacy Training” classroom sessions.

Target Audience: Ideally the candidates who participate in the Advocacy Training sessions should have good foundational knowledge of the financial planning principles applicable to the deployment and also understand the corporate objectives so that the trainer can build on those core proficiencies.

Time Commitment: These sessions may be completed in 1 or 2 days depending on the knowledge level of the participants and the degree of support to be provided by the participants.

Venue: The session will take place where the participants can utilize a workstation that can access the corporate installation of PlanPlus Planit so that case studies can be included in the session. Typically sessions will be held at the corporate head office.

Cost: Fees apply. Contact us for details.

Classroom User Training

Classroom sessions for end users cover basic user concepts and case studies. While classroom training is an ideal training option, it often is difficult for a corporate user to bring together the necessary people into a single location to participate in these sessions. Also, the maximum number of participants for these sessions ideally should be 25 for a single facilitator. Groups greater than this can be accommodated, but the session then must be more presentation style vs. workshop style since case studies are difficult to manage with groups larger than 25 people. Additional facilitators are also required for larger groups.

Target Audience: Participants for these sessions will be end users who will be utilizing PlanPlus Planit to generate client presentations. The audience in some deployments may also be sub divided in cases where the corporate deployment targets multiple channels and thus where different features and processes are accessed.

Time Commitment: These sessions typically take place in 1 day.

Venue: The session will take place where the participants can utilize a workstation that can access the corporate installation of PlanPlus Planit so that case studies can be included in the session.

Cost: Fees apply. Contact us for details.

Web Based Administrator Training

With corporate deployments of PlanPlus Planit, there are a number of administrative functions that can be handled by the customers own help desk or by other administrative staff who are trained for this function. Some administrative functions might be adding new users, removing users if they leave the company, managing corporate favourites and corporate preferred portfolios etc.

A focused administrators training program is available to teach these functions utilizing technology to give web based presentations to small groups. The sessions are normally limited to 60 minutes in duration and, depending on the degree of corporate administration that will be done, may require 3 or 4 sessions. These sessions are interactive, where participants can ask questions and the presenter can respond by demonstrating the corresponding answers.

Target Audience: Participants for these sessions will normally be head office support staff who are assigned specified administrative functions relative to the PlanPlus Planit tool.

Venue: These are online sessions, so participants can be located anywhere as long as they have a telephone to dial in for the audio portion of the call, and have a computer with an internet connection to see the visual portion of the presentation.

Cost: Fees apply. Contact us for details.

Case Consultations

Applying theoretical knowledge to real client cases and situations is often where the whole training process can go off the rails. PlanPlus case consultation service gives you the final piece of the puzzle to ensure you get maximum benefit from your training investment. This service allows a user to access one of our PlanPlus experts (who is often a CFP) to review difficult cases where assistance is needed in dealing with complex situations. It can even be for less complicated cases where the user is merely trying to get a comfort level with the tool.

Target Audience: Any user who need a deeper understanding of the more complex calculations and approaches used by the system.

Time Commitment: 5 business days advanced notice is required. One case consultation session is 1 hour long.

Cost: $150 per case for a time commitment of up to 1 hour.

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Virtual Training

PlanPlus offers training that you can take from the comfort of your own office. This approach minimizes your time commitment by eliminating the travel time and expenses associated with classroom training. You will benefit from a training experience that provides you with an interactive forum with a qualified PlanPlus instructor.

Attend the Virtual Training sessions from anywhere. The program is structured to be delivered in a series of three 2-hour sessions spaced out over three consecutive weeks. The concept concentrates on a case study approach to learning. You will be given exercises to complete at the conclusion of each session to practice what you have learned.

A PlanPlus training expert will walk you step-by-step through a case study to complete and run financial planning documents such as the Personal Financial Strategy and the Investment Policy Statement.

Target Audience: Participants for these sessions will be end users who utilize PlanPlus Planit to generate client presentations. The audience in some deployments may also be sub divided in cases where the corporate deployment targets multiple channels and thus where different features and processes are accessed. Classes are capped at 25 participants.

Time Commitment: Three 2-hour sessions (over the course of one month).

Venue: Because these sessions are on line, participants can be located anywhere as long as they have a telephone to dial in for the audio portion of the call, and have a computer with an internet connection to see the visual portion of the presentation.

Cost: These sessions are free to all PlanPlus Planit Professional users.

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Not all training programs are available in all languages.