NOW INTEGRATED: IPS AdvisorPro® and MoneyGuidePro™ – Import Financial Planning Data into Investment Policy Statements
IPS AdvisorPro® and MoneyGuideProTM Integrate Software Systems, to provide a Complete Financial and Investment Planning Solution
IPS AdvisorPro® is pleased to announce the release of its first software integration with MoneyGuideProTM, the industry’s leading financial planning software tool. With this announcement, the integration between these two industry award-winning online financial software programs is available immediately to IPS AdvisorPro® users. The new integration will save time and streamline the preparation of financial plans and investment policy statements (IPS) ensuring consistency of data between the two programs and providing financial advisors with a complete financial and investment planning solution.
MoneyGuideProTM offers an exciting new approach to Financial Planning. MoneyGuideProTM provides a goal-oriented process that is faster, easier and more engaging for the client. Advisors can create a Retirement Lifestyle Plan to show clients how to maximize the satisfaction and enjoyment they will obtain from their money during their lifetime. It is particularly effective in helping restore client confidence during down markets. MoneyGuideProTM has been hailed as “the most innovative product to come along in a long time” and was selected as the “Software of the Year for 2008″ by Morningstar.
In order to make use of the integration between IPS AdvisorPro® and MoneyGuideProTM, users must be currently licensed with programs.
Data created in MoneyGuideProTM can be automatically downloaded to IPS AdvisorPro®, including:
- Client data (e.g. client name, contact information, etc.) is imported from MoneyGuideProTM into the IPS questionnaire and utilized in the IPS itself.
- Investment Account information, including account name or description and its current amount is imported from MoneyGuideProTM into the IPS questionnaire.
- The MoneyGuideProTM or FinaMetrica Risk Tolerance questions, answers and numerical Risk Score are imported from MoneyGuideProTM into the IPS questionnaire. The IPS AdvisorPro® user will need to manually enter the phrase or description that they feel best describes the imported data. The manually entered phrase or description is shown in the IPS.
- The selected Target Portfolio Model is imported from MoneyGuideProTM and utilized in the IPS. As part of this import, the model name, the asset classes, proportional allocation percentages, return percentage, and standard deviation (indicating whether based on historical or projected values) are imported from MoneyGuideProTM. This imported data and the pie chart generated from that data is shown in the 3rd step of the IPS creation process (the asset allocation determination) as well as in the actual IPS.
- A date tracking system will allow easy checking of the last date when information from MoneyGuideProTM was downloaded into IPS AdvisorPro®.
We’re very excited to bring this valuable addition to the IPS AdvisorPro® platform at no additional cost to currently licensed IPS AdvisorPro® users. We believe that this integration will provide a number of benefits, including: reduced data entry time, consistent information between the financial plan and the IPS, and a much easier way to update key elements of an IPS, keeping it aligned with the changes made in the MoneyGuideProTM plan.
We expect this data integration to be the first of several that we will bring to you over the coming months, so be sure to check out the latest information, tools, case studies, and advanced training opportunities on www.IPSAdvisorPro.com.
Sincerely,
Norman M. Boone, MBA, CFP®
Linda Lubitz Boone, CFP®
Co-Founders
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