The enhancements are designed to improve the adviser’s ability to gather household balance sheet information and communicate more effectively with clients about their recommendations, said Advisor Software’s President Neal Ringquist, in a news release. “A recommendation is only as good as an adviser’s ability to explain it. With this upgrade, we continue to help advisers connect investors’ personal goals with their investing decisions,” he said.
The following new features were added to release 1.1 of ASI Wealth Manager, according to the company:
- Portfolio Diagnostics—allows advisers to compare a client’s Current Portfolio and ASI Wealth Manager’s Proposed Portfolio with the Target Strategy produced by ASI Wealth Manager. Advisers can see in summary form how the Proposed Portfolio better implements the Target Strategy, by analyzing various portfolio characteristics such as tracking error, expected risk, expected returns, and tax costs.
- Retirement and Expenses Goal—gives advisers the option to calculate current and retirement annual expenses instantly as one total number, or as a detailed breakdown of expenses into categories such as utilities, transportation, children, or health care. Advisers can also adjust the retirement and expense goal prioritization as a percentage of a target goal amount, to illustrate for minimum and maximum levels within goals.
- Balance Sheet Analysis—The household balance sheet is improved to provide feedback, alerting advisers when a client’s resources are insufficient to fully fund their liabilities and goals.