Financial Compass Introduction

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Financial Compass Help > Financial Compass Introduction

Financial Compass is a goals based needs analysis system which is designed to help you to help your clients determine the type and amount of financial products they need to achieve financial security. Financial Compass is designed to be intuitive and easy to use with compelling on screen and printed reports.

One Analysis or Many

Financial Compass is not a comprehensive financial planning tool, it is however a suitability tool which can quickly analyze clients needs in these key areas:

• Survivor Needs - ongoing needs of the family in the event of a death
• College Funding - what will the needs be, how much needs to be saved
• Retirement Planning - will clients have enough money when it comes time to retire
• Special Goal / Event Funding - how much to save for a goal or major purchase
• Disability Income Needs - what is the financial impact of a disability
• Long Term Care - what is the financial impact of a long term care need

Supports the sales process

Financial Compass is a flexible system. You can use Financial Compass in the manner that fits your style and the style of your clients:

• Presenting a case live at the “Point of Sale”
• Completing a more traditional fact-finding interview and conducting a subsequent presentation of the results
• A combination of both ways by entering and showing the information live and exploring “What If” scenarios

Online and Desktop Versions

Financial Compass is available in Online and Desktop versions. Both versions are virtually identical in how they function – one is accessed real-time through the internet (Online version) and the other is a stand-alone application. With the desktop version you can also synchronize your data files to a server if desired. Some unique characteristics of each version are listed below:

Online Version

• Works online. An internet connection is required
• No software download or setup is required
• Software updates are automatic
• All client data and personal configuration settings are stored online
• At least Internet Explorer version 6.0, Firefox version 1.5 or a comparable web browser is required, with JavaScript enabled.

Desktop Version

• Works offline, and optionally connects to the internet when you check-in and check-out client files from your online file cabinet
• An initial software download and setup is required
• A periodic internet connection is required for license activation and renewals
• Software patches and upgrades are performed automatically via an internet connection
• All client data and personal configuration settings are stored locally