TORONTO, Jan. 12, 2022 /PRNewswire/ — Planswell, the financial planning company offering free, personalized financial plans to consumers in under three minutes, today announced upgraded features for advisors using its software for free. Advisors can now help clients plan for major spending goals such as a dream vacation, as well as integrate significant cash flow events such as an inheritance, with the impact on retirement fully reflected in the plan.
"Our financial planning experience for consumers and advisors is advancing at a rapid pace," said Scott Wetton, Chief Operating Officer. "Planswell’s new goal and cash flow functionality drives the type of value advisors want to deliver to their clients."
The enhancements allow clients to add savings goals to their comprehensive plan for specific spending events such as elective surgery or a dream vacation. Goals are integrated with the retirement planning engine, so the impact on retirement is reflected and the adaptive engine will find solutions with the goal considered.
"Consumers can now turn to their advisor with the question, ‘Can we afford this?’, and the advisor can instantly show them how to make their dreams a reality," says CEO Eric Arnold.
Similarly, one-time cash events—deposits or withdrawals—are instantly integrated into the client’s plan, providing flexibility to handle life’s curveballs.
After investing upwards of $20 million to build its unique client-led planning engine, Planswell turned client prospecting and onboarding on its head by making its software completely free to both sides of the market in December 2021, spiking business by upwards of 25% in just two weeks. The end-client can build a comprehensive financial plan from their mobile device in just three minutes—including mortgage, debt, investments, and cash flow considerations—which is immediately available to their advisor.
In addition to Planswell’s proprietary financial planning software, the company provides highly rated advisor training and support, a popular CRM, a unique plan-building link, peer leadership, and a robust library of self-guided resources—all now available to qualified advisors free of charge. Advisors accepting new clients will also be eligible to opt into Planswell’s client-matching service on a month-to-month basis to meet their growth goals.
Planswell is a free financial planning service that allows users to develop a financial plan through a series of questions in under five minutes. Planswell’s advisor partners receive training, software, and peer leadership, with the option to receive exclusive prospective clients within their state or province. Currently operating in the United States and Canada, Planswell has created over 400,000 free financial plans to date and served over 2,000 financial advisors. To learn more, visit planswell.com.
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Eric Arnold, CEO
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