MRA Advisory Taps RightCapital For Client Tools

MRA Advisory Taps RightCapital For Client Tools
MRA Advisory Group (formerly Morris Retirement Advisors) has announced a new free financial planning tool for clients called WealthBuilder Planning. The tool is free both to the firm’s clients and to the public.

WealthBuilder Planning allows individuals and families to add their financial accounts onto a platform and track their investments, retirement goals, educational savings accounts, insurance and taxes. It also allows them to manage their estates.

The firm licensed the proprietary service from Right Capital Financial Planning Solutions.

The firm’s CEO and wealth advisor, Marco Lima, said the tool makes advising more collaborative and financial advisors’ conversations with their clients more informative. It also helps the firm market its services to prospects. Lima notes that only a dozen people still use the platform for free—users often end up coming to the firm for help interpreting the tool’s advice and then seek guidance for their financial decisions.

The tool can be licensed for a monthly fee that ranges between $100 and $150 per advisor.

RightCapital Launches Student Loan Capabilities
RightCapital, a financial technology start-up, has added a student loan tool to its digital financial planning platform.

RightCapital’s platform, which allows advisors to create customizable financial plans, already features tools for taxes, retirement, investment, insurance, education savings and budgeting. With the student loan extension, advisors can show clients how student loan repayment options such as income-driven repayment plans and public service loan forgiveness programs will impact their finances and financial goals.

Advisors can use the new tool to compare current loans and proposed loans, create interactive flowcharts to display loan repayment options and show the effect of a repayment plan on a client’s retirement.