Financial Needs Assessment Report

• The Financial Needs Assessment report provides an overview of the clients’ current financial situation and goal attainability. Typically, this report is used at the beginning of the client relationship, or as an annual update.
  • Legacy reports are highly customizable. The Select Document Sections dialog box lists all the document sections that are available. Selecting a check box for a section ensures that NaviPlan includes that section in the report. In addition, some sections are expandable and you can decide which subsections to include or exclude. Some sections, such as the Disclaimer, are always included.

Report Watermarking

If plans must go through a workflow process, a Draft watermark may appear on the report based on the current workflow status of the plan. To remove the watermark, the plan’s workflow status will need to be changed.

• The watermark is removed from required reports when the workflow plan status changes from:
  • Proposed to Approved
  • Update-Proposed to Update-Approved
• If the Planning Assistant™ has detected a problem in the plan, a Financial Needs Analysis report cannot be generated.

1. To choose the sections you want to include in the report, click Select Document Sections.
2. Select the sections to be included in the report, and clear the check boxes for sections to be excluded.
   • To include all sections, click Select All. To include only the required sections, click Select None, and then select the sections you want.
4. Click Generate Report.
5. To save the generated report, use the File – Save As command in the PDF or Word window.
6. To print a generated report, use the File – Print command in the PDF or Word window.

1. Select a template from the list.
2. Click Generate (or Regenerate).

1. Click Select Document Sections.
2. Select the sections to be included in the report, clear the sections to be excluded, and then click Save as Template.
3. Enter the name of the template.
4. Click OK. You can now select the template from the list.

• A short summary of the contents of the report.

• A summary of the clients’ net worth and cash flow position as of the end of the current plan year.

• Graphs and tables display the clients’ current retirement plans.

• Graphs and tables analyze the attainability of the clients’ planned retirement dates.

• Graphs and tables analyze the attainability of the clients’ education goal.

• Graphs and tables analyze the attainability of the clients’ major purchase goal(s).

• Graphs and tables analyze life insurance coverage. Total coverage needed, current life insurance owned, and additional life insurance required are shown. There may be entries for the client or co-client, as well as a joint entry.

• Graphs and tables analyze disability insurance coverage. Current monthly disability insurance, monthly deficit amounts, and the approximate monthly disability insurance required are shown. There may be entries for the client or co-client.

• Graphs and tables analyze the attainability of the clients’ various goals.

• Provides recommendations for how clients should use the information provided in the report.

• Describes the scope and limitations of the report.