Succession Wealth partners with Timeline on digital solution to help clients plan their retirement journey
Contributed by Timeline
14/09/2021 - Timeline
Timeline, the adviser fintech company, has rolled out a series of developments in recent weeks to bolster its financial planning software and help advisers drive down the amount they pay for technology each and every year.
The latest and most significant is a new cashflow element with in-built goal visualisation and capital market scenarios. This enables advisers and their clients to visualise how goals, retirement income and expenditures stacks up under various market conditions, using Timeline’s signature 100+ years of capital market data.
This is a departure from traditional cashflow that works on a single return and inflation inputs, and requires advisers to manually change these inputs or manually create hypothetical market crashes for a handful of scenarios at best. Timeline cashflow automatically tests thousands of market scenarios using real data and presents an elegant picture to show clients how they can pay for specific goals, the effect of taxes and inflation.
Not only are these built on Timeline’s signature technology underpinned by 100+ years of market data, but the presentation style is simple and engaging, so the clients can be taken on their ‘financial journey’. For example, the adviser can start with a blank slate and add income and spending types one by one to build the full picture. Then the client and adviser can see clearly whether the plan has the right inputs and agree the account withdrawal order.
Other recent additions include the factfind, which automatically repopulates the cashflow and creates a draft plan, risk profiles with portfolio visualisation that gives the client a sense of the risk they are taking and the quick to set up ‘Back-of-the-envelope plans’ which are a great place to look at what-if scenarios and have early conversations with a new client. The upshot of this is that Timeline users would no longer have to pay for multiple tools that don’t talk to each other, eliminating the need for re-keying, the root cause of inefficiency.
Ed Carey, Chief Commercial Office at Timeline and Betafolio, explains: “We are listening to advisers, who are telling us loud and clear that they want tech that’s fully integrated and supports ALL the core services they provide. We’re taking huge strides ahead with the addition of cashflow, back-of-the-envelope plans and ‘what if’ scenario modelling to Timeline. We will drive down the cost of tech for advisers whilst developing robust, integrated software that creates a top-quality experience for clients, whilst making the advisers job quicker, more robust and more compliant. I’m very proud to work with such a dedicated, focused and talented team.”
Timeline is revolutionising the adviser tech stack. Their smart planning software delivers accurate projections and exceptional results. Plus, by placing their clients’ assets with our cost-effective model portfolio service. Get in touch to find out more
Photo: Ed Carey
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