A groundbreaking version of MoneyGuidePro will be released on Monday, November 2, that offers many new features to help advisors with their businesses.
You can see many of the features in the new version, G:2.2, by clicking on the blue hyperlinks that follow. Meanwhile, Morgan Stanley Smith Barney plans to shift all its brokers over to the application, according to sources.
Play Zone is an easy method of changing plan assumptions for goals, savings and portfolios that gives an instantaneous update on the probability of plan success. Advisors can give clients access to Play Zone so that they can collaborate on their own alternative scenarios.
Star Track offers a visual summary of a client's progress towards their goals over a period of time. This helps clients focus on their long-term goals, and provides them with additional perspective and context.
Many clients exhibited extreme duress during the market gyrations of the past year or two. To help address client fears, MGP G:2.2 has added The Sky Is Falling marketing materials to allay those fears. This package includes a free presentation, a brochure and a workbook. Goal cards and additional marketing tools are also available for a nominal fee to cover costs.
The current plan presentation feature has been enhanced with two additions: The Concentrated Position page and the Bear Market Test. The former illustrates the impact on a plan when something happens to negatively affect a concentrated stock position, considered 10% or more of total assets. It also addresses the inherent risk if that concentrated position is in the stock of a client's employer. The Bear Market Test calculates the maximum loss a client's portfolio could sustain and still maintaining acceptable goal targets within the confidence zone.
To address the new Roth conversion rules effective January 1, 2010, MGP G:2.2 includes two new features: The Roth Conversion Goal Strategy and the Roth Conversion Calculator. The strategy is integrated into a plan and it compares two "what if" scenarios: one with the conversion and one without. From there, you can easily model additional scenarios and assumptions. The standalone calculator can make a preliminary assessment of the impact of a conversion.
MGP has always defined spending order by tax category. The Spending Order enhancement allows advisors to define a default spending order and then define different orders in the "what if" section. Other enhancements include the ability to model annuities with a guaranteed minimum withdrawal amount, and added "what if" options and reporting features. For further information, visit www.moneyguidepro.com.