“To help improve their investment planning process, advisors are seeking a solution that helps them go beyond the risk tolerance questionnaire and suitable investments and towards gaining a more in-depth understanding of their clients’ financial goals, resources and commitments quickly when time does not allow for completing a full financial planning analysis,” Neal Ringquist, president and COO of Advisor Software, said in a statement. “The household balance sheet delivered by goalgamiPro is an optimal tool for this quick assessment of goal plan affordability.”
Company officials said the application leverages ASI Wealth Manager, a patented, goal-driven investment management solution. For additional planning flexibility, goalgamiPro allows the advisor to express a client’s goals in multiple priority classes identified as “necessary,” “target” and “aspirational.”
The key output of goalgamiPro is a PDF report of the household balance sheet diagnostic, indicating whether a client can afford to fund his or her financial goal plan.
“Making a goal plan affordable doesn’t have to mean giving up funding a child’s college education to plan for retirement -- household goals can coexist at different funding levels,” Ringquist added. “goalgamiPro allows advisors to have a discussion with clients regarding priority levels within goals and quickly perform this critical balance-sheet analysis without having to invest hours of time preparing a full financial plan.”