Trouble finding where to input something? This article should help!
Client data is entered under the Profile header. Here's what goes where:
- Personal Info: First Name, Last Name, Date of Birth
- Income: Income such as employment, business, real estate, social security or other
- Expenses: Your client's expenses
- Goals Input: What your client wants to achieve for example retirement or a home purchase or education funding etc.
- Accounts: Bank accounts, retirement accounts, investment accounts, annuities
- Other Assets: Business assets, real estate assets, pensions or other assets such as jewelry and art
- Insurance: Insurance policies such as life, disability and long term care
- Equity Compensation: The client's equity compensation information such as ISO's, RSU's and NQSO's.
- Trusts: Any revocable or irrevocable trust that is relevant to your client
- Taxes: Filing status and state of residence
- Risk Tolerance: The level of investment risk you deem appropriate for your client.
Importance of Inputs
- The Profile section builds the "Current" or "Base" scenario in the financial plan, and is used to iterate "what-if" scenarios to create your proposal. Think of all these inputs as everything the client is currently doing.