benchmarks, CRM2, Financial Advisors, investments, Software, Understanding Investments

New regulation is here and one software provider believes it can help you restore client confidence:

The Financial Industry has just gone through its first RRSP season with the new performance reporting requirements.  There have been more questions, more confusion and more time demands on the financial professionals.  There have been challenges, but successes as well.

Top CFP’s have had varied responses but a few positive words have been spoken.   Said one CFP:  “The onus is now on us to step up.   If you can provide your clients with a clear picture of their financial situation you are well on the road to having a good relationship for the duration.   Your clients need to know just 3 things:    1.Financially, where are they now, 2. how did they get here, and 3. where are they going to be?   If you can answer these 3 questions, why the heck aren’t you on a yacht in the Bahamas?“

On a more serious note, if you could explain those three aspects, you would be restoring client confidence that may have been shaken with the incongruous reports from the corporate financial system.

  1. Where are they now?

Show your client graphically, what they are investing in.   It is then easier to guide them in making informed decisions.

  1. How did they get here?

What are the consequences of their decisions?   Over the course of the years, you have advised your client and they have made decisions in consultation with you.   Show them graphically, what would have happened if those decisions had been different.   For example, what would have happened if they had gotten out of the market in 2009.

  1. Where are they going? Will it be salmon or cat food in the tin?

Where will they be in 10 years?  20 years?   Illustrate graphically, various scenarios and the effects of their investment decisions.   This is completely speculative, but most clients welcome the opportunity to visualize a variety of outcomes.   The simple exercise of varying retirement age or adding 10% to savings per year, and graphing these numbers so that the client can see pictorially, the effect of their actions, will propel good things.

Obviously, none of the above questions can be answered definitively.   But illustrating the speculations above with graphs and pictorials will help the client internalize good strategies.    This will go a long way in entrenching client confidence in your value as a professional.

How do you compete with new low cost alternatives and the new advisors coming into the industry?  By providing your clients with superior professional financial guidance.

financial software for planners and advisors

 

 

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Annual Performance Reporting, benchmarks, CRM2, CRM2Plus, Financial Advisors, Software, Uncategorized

Client Questions, Time Pressures and CRM2

My performance is only gaged by what my last statement was so I don’t really have a sense of how I am doing or what my performance was. “

“My portfolio went up and I was happy.   It went down and I was sad.  I have been doing this for 16 years and I don’t know how much I have invested and how much I have made.”

This was a conversation with one of my clients and I am certain that it is not untypical. Explaining financial performance to clients is a challenging undertaking. Entering data, running analyses, and creating graphs and pictorials, are complex and time consuming tasks, but are necessary preparations for client meetings.

How do you streamline this time-consuming process?

New tools have become available to meet this challenge.   Portfolio analysis software, such as CRM2plus, will significantly reduce your workload.   This software reads in financial statements and in minutes, graphs investments against current value, identifies top performing quarters and years, and compares against meaningful benchmarks that mirror the portfolio holdings.  CRM2plus creates, in pictorial form, tangible and meaningful information for you and your client.    CRM2plus for Planners

CRM2plus was designed by financial advisors to address the new regulatory requirements.   Once top financial advisors saw the benefits of using this software, the capabilities were expanded to include benchmarking, merging portfolios, and creating counterfactuals.  In 2016, this software was made available to the public for general subscription.

Investment Analysis Software

Software for Financial Advisors, Financial Planners, CFP’s

CRM2plus for Planners

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How can prepping client meetings be made more efficient?

Preparing for client meetings is time consuming.   Generating the graphs, creating pictorials and tangibles so that your high net worth clients can appreciate their performance….

Using a software tool such as CRM2plus can save hours of prep time and give you that opportunity to demonstrate to your clients, why trusting you with their investments is a good idea.

CRM2plus satisfies and goes several steps beyond recent CRM2 regulations regarding performance, allowing the advisor to demonstrate their value to their high net worth clients.

The key competitive advantages of CRM2plus software are;

  • Clients see graphically what was invested and when, against portfolio market value over time.
  • Performance of the complete portfolio can be shown on one graph. The advisor can analyze various assets and aggregate them for a complete financial picture, including external assets such as real estate investments.
  • The advisor can group clients. This is relevant when analyzing a family’s pooled assets such as husband and wife’s RRSP’s, TFSA’s, a family trust, and a business.
  • Benchmarking: Using data from major stock market indices including S&P and NASDAQ , the software can create a transactionally consistent comparison portfolio for benchmarking. Indices can be weighted, to demonstrate the effects of market movements on a client portfolio.

 

TANGIBLE BENEFIT CRM2plus
Graphical Presentation – results are graphical for clarity.  Graphs of fair market value and returns over different time frames such as Quarterly, Annual, 5 yr or custom dates are available.
Client Focused Portfolio Aggregation -reports from the investor’s point of view.  Reports on performance across products and investments, including assets such as personal real estate holdings, showing a total financial picture.
Merging Accounts -reporting on any level of aggregation from individual accounts to family wealth management:  RESP’s, RRSP’s, TFSA’s, personal investments, business investments, family trust.
Benchmark Comparisons -create a transactionally consistent comparison to a blended benchmark portfolio including several different indices (e.g. 40% TSX, 20% DEX Universe Bond Index, 20% Euro Stoxx 50, 20% Gold)
Rebalancing -dynamic rebalancing to reflect the client’s portfolio mix
Testing Hypotheses -allows the Financial Advisor to demonstrate the value of their advice:   A copy of the client portfolio can be tested against various hypotheses:  “What would have happened if the client had not taken the advice and had sold late 2008?” Simulations against legitimate benchmarks can include timings of transfers and rebalancing.
Import External Data – Digital data can be imported.  To minimize the data entry burden, CRM2plus will read pdf’s.
Design Focus CRM2plus is a grass roots product; built from the bottom up, designed by Financial Advisors to help them better service their high net worth clients.

 

 

 

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benchmarks, CRM2Plus Software, Software, Understanding Investments

Resolutions for 2017 – Finance

Investing is like dieting.   No one really wants to get on that scale and see the actual numbers.   Most people find that financial statements from  financial advisors are confusing.   If you are like I was, you will open your monthly statement and if the number is up, you are happy.   If the number is down, you are disappointed.

This process doesn’t really tell you if you are doing well or not.   How much have you invested in total?   How much have you made in total?   How does your portfolio performance compare to the TSX or other investing alternatives?   Will you be able to reach your investment and retirement goals ?

 

If you are interested in   taking charge of your financial future, we recommend trying out this new software:   CRM2plus       CRM2plus lets you track your portfolio performance.   At the press of a button, you can compare the amount that you invested to the market value of your investments.   Press another button and compare your performance with the TSX, S&P, and other indices, to understand how you are actually doing.

Using the estimator, you can extrapolate your numbers to retirement.  Envisage where you will be at retirement, what your monthly income at that time will be, and what your assets may be.

Educate yourself and put your financial freedom into your own hands with CRM2Plus.

CRM2plus Investment Analysis Software

 

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Annual Performance Reporting, benchmarks, CRM2, CRM2Plus Software, Financial Advisors, investment analysis

Tired of the using Excel to Prepare for Client Meetings?

Are you a portfolio manager and finding it challenging to create the required CRM2 reports from your legacy system?      Are you tired of using Excel to massage data?

There are tools available that allow you to show clients graphically, their portfolio performance.   There are tools that require much less of your time and provide better results.

One such software tool, CRM2plus, satisfies and goes several steps beyond recent CRM2 regulations regarding performance, allowing you to demonstrate the value of your advice.

The key competitive advantages of CRM2plus software are;

  • CRM2plus reads client’s statements and generates XIRR reports in graphical format.  Clients see graphically what was invested and when, against portfolio market value over time. XIRR and volatility are metric that are provided.
  • Performance of the complete portfolio, or any investment, can be shown on one graph. You can analyze various assets and aggregate them for a complete financial picture, including external assets such as real estate investments.
  • Merging accounts is another feature. This is relevant when analyzing a family’s pooled assets such as husband and wife’s RRSP’s, TFSA’s, a family trust, and a business.
  • Benchmarking: Using data from major stock market indices including S&P and NASDAQ , the software can create a transactionally consistent comparison portfolio for benchmarking. Indices can be weighted, to demonstrate the effects of market movements on a client portfolio.
  • Counterfactual portfolio’s or What if’s: Portfolio’s can be replicated and various “what if?” scenarios graphed against actuals to demonstrate to the client what would have happened if other decisions had been made.

Why is CRM2plus software important for you?  Success comes from a competitive advantage and CRM2plus software gives you that advantage.

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graphical results of investment performance with CRM2plus.com

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benchmarks, investments, Retirement Saving, RRSP, Software

Just in time for RRSP season, new software to put you in charge of your finances:

Investing is like dieting.   No one really wants to get on that scale and see the actual numbers.   Most people find that financial statements from financial advisors are confusing.   If you are like I was, you will open your monthly statement and if the number is up, you are happy.   If the number is down, you are disappointed.

This process doesn’t really tell you if you are doing well or not.   How much have you invested in total?   How much have you made in total?   How does your portfolio performance compare to the TSX or other investing alternatives?   Will you be able to reach your investment and retirement goals?

It is possible to take charge of your financial future and track your portfolio performance with some new software that has recently become available to the public:   CRM2plus  (CRM2plus.com)   Developed by Financial Advisors, CRM2plus track yours investments, withdrawals and performance.   At the press of a button, you can compare the amount that you invested to the market value of your investments.   Press another button and compare your performance with the TSX and other indices, to understand how well you are actually doing.

Using the estimator, you can extrapolate your numbers to retirement.  Envisage where you will be at retirement, what your monthly income at that time will be, and what your assets may be.

Educate yourself and put your financial freedom into your own hands with CRM2Plus.working-with-the-average-investor

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benchmarks, CRM2Plus, Financial Advisors, investment analysis, portfolio analysis software

Its time to get professional advice

Its time to get professional advice  –   by guest blogger Anne Leroux

The time when retirement planning was straightly mapped out is long gone.

Investment Analysis Software

To millennials, the   rules   managing our parents and grandparents spending are so farfetched they slide straight into the category of fantasy. The golden lodging rule, to only use 30% of your income for housing expenses, sounds like the stuff dreams are made of. The average among millenials is 60-70% of income on lodging.   Add children into the equation and making ends meet comfortably becomes extremely difficult.  Putting money away to save becomes a pipe dream.

Working to struggle financially is never anybody’s end goal. Take the proper steps to educate yourself on your financial situation, your goals and bridge the gap. Connecting with a financial advisor can minimize the time it takes to build your way to financial stability.

 

www.crm2plus.com

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