MoneyGuidePro has added a tool to its flagship software that allows advisors to automate ongoing actions they and clients must take to reach goals set in a financial plan.

The new feature, Executive Summary, allows advisors to automate the review of ongoing actions related to a financial plan. “It will allow advisors to more deeply engage clients in the planning process and identify additional revenue opportunities, while providing clients with a consolidated list tied to their financial plan,” said Bob Curtis, President and CEO of MoneyGuidePro.

Action items can be selected from a list of pre-determined tasks, such as increasing 401(k) contributions, purchasing insurance, refinancing a mortgage or updating an estate plan. Advisors can or input custom items manually. Action items can have a status and completion date based on a household view of the plan. “For each recommendation within the financial plan, Executive Summary creates a specific action item and allows the advisor to assign responsibility and a timeframe for its completion," Curtis said. "For the client, Executive Summary makes it clear that the plan is not done until implementation is complete.”

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