Client & Plan Creation

This page covers the following location(s) in NaviPlan:

Client Management — Client List — Create New Client

Plan Management — Plan List — Create New Engagement

Plan Management — Plan List — New

Procedures

Procedures

ClosedHow does information on the Client Information tab affect a plan?
  • Selecting Joint Analysis will automatically include a co-client in the plan.
  • The Date of Birth will establish default retirement years and life expectancy throughout the client files. These default milestones can be modified under Plan Settings.
  • The Tax Filing Status will affect calculations throughout the plan and the available options on some pages, especially concerning Insurance Coverage and Estate Planning.
  • Selecting the Client(s) are currently retired option will cause NaviPlan to consider the clients retired for all purposes.
  • Selecting Currently Disabled will affect Insurance Coverage and the available options on some pages.
  • The city and state entered will affect tax rates, depending on the analysis method selected later.
ClosedHow does information on the Family Members tab affect a plan?
  • Family members added to the plan are automatically included as beneficiaries for the clients' estates.
  • The Dependent of list will establish how NaviPlan calculates income tax credits, savings, and goal calculations.
  • Children for whom you intend to set an education goal must be entered as family members rather than a beneficiary.
ClosedHow does information on the Beneficiaries tab affect a plan?
  • Entering beneficiaries here will allow you to select them later in the plan as the beneficiaries of trusts, estate, and other items.
  • If you need to enter more beneficiaries after plan creation, they can also be entered from the Client Information screen.
ClosedHows does information on the Advisor Information tab affect a plan?
  • This tab allows you to enter your personal information, but this will not affect the way NaviPlan operates.
  • Selecting Cover Page will include your name on the cover page of all client reports you generate with NaviPlan.
  • Click Details to enter more detailed information on yourself.
ClosedHow does the Plan Selection affect a plan?
  • These options determine the scope of your analysis and client presentations, as well as how much information you need to gather while setting up a plan. NaviPlan offers a short description of the benefits of each level to help you determine which portion best fits your clients' needs.
  • The options available throughout the application will differ drastically depending on the level you select. The modules available by level are:
    ModuleFinancial AssessmentLevel 1 PlanLevel 2 Plan
    Asset Allocation 
    Retirement
    Major Purchase
    Emergency Fund 
    Insurance Coverage/Analysis  
    Survivor Income 
    Disability Income 
    Long-Term Care 
    Estate Planning  
    Monte Carlo Analysis  
    Equity Compensation  
    Business Planning*  
    Advanced Estate  
    *NaviPlan does not support "intrinsic" business planning. Instead, NaviPlan analyzes the effects of clients' business assets on their personal plan.
ClosedWhat is the difference between Average Tax Method and Detailed Tax Method?
  • Average Tax Method applies user-entered tax rates to income during three different time periods: pre-retirement, retirement, and in the year of death. A limited number of deductions are applied against income. The alternative minimum tax (AMT) is not supported.
  • Detailed Tax Method automatically applies the bracketed federal and state rates to taxable income on a year-by-year basis. An extensive number of deductions and credits are supported in the calculations. The alternative minimum tax (AMT) is supported.
ClosedHow do I select an Asset Allocation Model for the plan?
  • From the Asset Allocation Model tab of the Client & Plan Creation dialog box, select an option from the Asset Allocation Model section that corresponds with the model you wish to use.
    • If you are unsure which model to select review the description for each model in the Information section. Note that a description may not appear for the default asset allocation model.
  • Note: Depending on your workplace, permissions, and configuration this section may or may not appear for you. If any of the following conditions are true, you will not see this section:
    • You selected a calculator on the Plan Level step.
    • You or your workplace use only one asset allocation model.
    • You do not have permission to use an alternative asset allocation model.
    • You have not yet selected a plan level.
ClosedHows does the Modules selection affect a plan?
  • The modules you include in the plan represent the financial goals you intend to set for your clients. Your selections here will adjust the categories available on the navigation bar accordingly. However, the initial module selection can be modified at any time from the Plan Management section — Modules category.
ClosedHows do I update client information?
  1. Open the client file you would like to modify.
  2. From the Client Management section, access the Client Information page.



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