65 Incorporated Rolls Out Medicare Planning Software For Advisors
65 Incorporated, headquartered in the Milwaukee suburb of Mequon, Wis., has launched i65, a suite of pay-per-use software tools allowing financial advisors to help clients turning 65 optimize their healthcare experience in retirement.
The i65 Medicare planning software has three separate modules. The i65 Needs Assessment module introduces the topics of healthcare, Medicare and long-term care to clients before they retire or become eligible to apply for Social Security early retirement benefits. With this customized report, clients learn about the most common and costly mistakes people make when dealing with these issues. Advisors and clients then work together to identify and correct them during the retirement planning process.
The iEstimate module combines detailed personal information provided by the client with actuarial data models in order to estimate clients’ longevity, as well as their healthcare and long-term care costs and needs in retirement.
The i65 Medicare RoadMap module is for people approaching Medicare eligibility. In creating the RoadMap, advisors help their clients determine the best time to enroll in Medicare, which may or may not be age 65, as well as the best type of Medicare coverage for their unique needs. The final report includes step-by-step instructions for enrolling or delaying coverage without jeopardizing future benefits, in addition to providing guidance for living with Medicare in the future.
The software suite has three different plan levels to accommodate the needs of small, medium, and large advisory practices. Training for advisors is provided at no additional cost. For further information, go to i65.com/for-financial-planners.
CFP Board Releases Six-Part Book On Psychology Of Financial Planning
The Certified Financial Planner Board of Standards has issued a six-part resource guide for financial planning professionals on the psychology of financial planning.
The six parts of the book delve into the principal knowledge topics: client and planner attitudes, values and biases; behavioral finance; sources of money conflict; principles of counseling; general principles of effective communication; and crisis events with severe consequences. The sections also cover practical problems, such as navigating a client’s risk tolerance and helping couples and families achieve greater financial transparency.
The e-book is available, and pre-orders for the print version and bundled offers can be purchased on the CFP Board’s website at CFP.net/Psychology-of-Financial-Planning. The print version will be released on June 8, 2022.
Kestra, Envestnet Launch Retirement Plan Platform
Kestra Financial, an independent broker-dealer headquartered in Austin, Texas, and Envestnet Retirement Solutions, the Berwyn, Pa.-based subsidiary of Envestnet, a financial technology corporation, have launched the Retirement Plan Enterprise. This platform features a suite of retirement plan tools that include a plan management dashboard, which provides aggregate views of plans, AUM, scorecards, and other key metrics that assist financial professionals with asset and trend monitoring by fund and record keeper.
The platform also includes investment analytics, fund research, and monitoring reports that help financial professionals analyze and compare existing funds with recommended lineups. It provides access to a proprietary analytics module, scoring criteria, and weightings. And it generates self-branded reports that include market commentary, asset allocation, plan-level performance, fund monitoring, due diligence and fee benchmarking.