ProductsApril 29, 2009

AdviceAmerica Updates Financial Planning System

AdviceAmerica, a provider of financial adviser software solutions, announced the next generation of its AdvisorVision product.

Reported by Ellie Behling

The new release, AdvisorVision 7, targets both independent advisers as well as institutional firms, includes a new Advice Engine that automatically determines optimal plans and significantly shortens the time advisers spend in the planning process compared to other comprehensive planning applications, according to a news release.

AdvisorVision 7 is tightly integrated and shares data with AdviceAmerica’s new client relationship management (CRM) tool, ClientVision, announced earlier this year (see “AdviceAmerica Introduces CRM for Outlook“). The combination of AdvisorVision 7 and ClientVision integrates financial planning, portfolio construction, and client relationship management into one platform.

According to the release, key new features of AdvisorVision 7 include:

AdviceCenter modeling tools—a modeling tool to construct planning scenarios that may include product solutions such as annuities or reverse mortgages;
Automatic Resource Allocator—automatically allocates assets, income streams, and savings to goals based on priorities and industry best practices;
Business Management Reports—provides insight into the adviser’s business through management-level reports, including demographic analysis of client book, portfolio rebalancing, revenue opportunities, and application usage;
Investment Policy Statement—automatically generates investment policy statements based on client objectives and adviser recommendations.
Model Management and Portfolio Construction Tools—gives advisers the ability to define unlimited number of asset allocation models and to associate mutual funds, stocks, or exchange-traded funds (ETFs) for faster investment proposal generation;
Datacenter—the enterprise-class SAS 70 certified datacenter ensures high levels of security, automatic backups, failover, and anytime/anywhere access.

AdvisorVision 7 comprehensive planning edition is priced at $1,495 for a single-copy annual subscription. Existing AdvisorVision users can upgrade to AdvisorVision 7 at no charge.