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Exceptional Advice Just Got Easier FP Solutions.

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Presentation on theme: "Exceptional Advice Just Got Easier FP Solutions."— Presentation transcript:

1 Exceptional Advice Just Got Easier FP Solutions


3 Who is CCH Canadian Ltd? CCH is a professional publishing and software company focusing on: –Tax –Financial Planning –Legal, HR and other business areas CCH is part of a large multi-national corporation named Wolters Kluwer

4 FP Solutions Financial planning software that grows with your practice and adapts to your clients changing needs. Basic – Retirement planning & Sales concepts Plus – Insurance needs analysis Business Advanced – Cash flow

5 FP Solutions Top 10 Features 1.T1 Tax Calculations 2.Fact Finder 3.Annual Review Tool 4.FP Focus 5.Planning Assistant 6.Common Planning Strategies 7.Value & Return on Advice 8.Planning Concepts 9.Customization 10. Software Support

6 General Income Tax and Benefit Guide #1 T1 Tax Calculations All income taxes are calculated based on CRA guidelines. Does not require the advisor to make any assumptions relating to the rate of tax. Highest standard.

7 #2 Fact Finder Fully integrated Easy to use Financial Snapshot Printable Data entry method Email to client Saves time

8 #3 Annual Review Tool Displays existing data Method of data entry Fully integrated Printable Highlights changes Easy to use Saves time

9 #4 FP Focus Executive summary covering 9 key areas of financial plan. Consistent and client-friendly reports Flexibility to change graphs on the fly.

10 #5 Planning Assistant Guides you through: 1.Basic Data 2.Review Data 3.Current Situation 4.Save More 5.Asset Allocation 6.Recommendations 7.Printing the Plan

11 #6 Planning Strategies 20 Strategies covering common areas including: –Income Splitting –Retirement Strategies –Tax Planning –RRSP / RRIF –Investment Strategies –Pension / LIRA

12 #7 Value of Advice Measure of performance Third party validation Integrates fees into plan Calculates return needed outside of the plan Positions the financial plan as an investment Best investment clients can make & Return on Advice

13 #8 Planning Concepts Estate Multiplier Insured Annuity Retirement LeverageRetirement Leverage RRSP Strategies RRSP Leverage Income Comparison Debt Consolidation Terminal Return Tax Freedom Day Tax Funding AlternativesTax Funding Alternatives Investment Strategies Investment Leverage Lost Opportunity Cost

14 #9 Customization Custom Documents –Global, all clients –Easy to use –100s of documents –100s of graphs –Branding –Custom formulas –Password protection Client Reports –Personalized for each client –Fine tuning –Permanent record –Email to clients –Password protection

15 #10 Software Support Toll-Free Tech Support –8:00 AM to 8:00 PM (EST) –Live web classroom –Recordings of live web sessions –Interactive tutorials –Knowledge base New Tutorial CD New User Reference Guide

16 IPC Advisor Discount IPC Advisor Discount Single user license Software LevelAnnual Subscription IPC Advisor Special Price Basic$ 290$ 194 Plus$ 500$ 334 Advanced$ 850$ 567 Business$1,250$ 834 Contact CCH for more information or a free demo 1-800-268-4522 or

17 Tracks both the year end balance and deferred taxes Automatically calculates annual RRSP contribution maximums and RRIF minimums Allocate amongst seven different asset categories

18 Properly track the portfolio balance, ACB, unrealized capital gains and the tax deferred Use solve utilities to determine deposits and/or withdrawals Allocate amongst seven different asset categories

19 Creates projections that track deposits, balance, expenses and government programs (i.e. CESG) Automatically integrates unfunded expenses with other lifestyle needs Produce either an RESP or In-trust for account for up to seven children

20 Keep track of both the living and estate value of the pension plan Show MPPs, LIRAs, and IPPs Flexibility to choose between LIF or LRIF withdrawals with automatic minimum calculations

21 Income and asset value are integrated into full financial plan Model both registered and prescribed annuities with proper cash flow tracking Use program to calculate income or manually enter the annuity income

22 Allows for changes in value of real estate and mortgages in future years Automatically calculates amortization and integrates payments into cash flow Handles both principal residences and recreational properties

23 Includes a separate document for leveraging CSV Import results from various life insurance software projection programs Show all types of life insurance including UL, group and joint

24 Solve utility helps determine how long assets can provide the desired retirement lifestyle Calculates how much client needs to save to attain retirement goals Compares the clients goals with three user - definable portfolios

25 Easily integrate suggested asset allocations into the projections Show different suggested allocations for the non-registered and registered accounts Use the questionnaire provided or manually set the risk tolerance

26 Calculates life insurance needs every year of the plan Clearly illustrates the need for additional life insurance for three different investment strategies Shows both graphically and numerically the impact of the death of a spouse

27 Displays the benefits that life insurance add to an estate Automatically calculates the probate and legal fees that occur in estate situations Show the impact of second death on the value of the clients estate

28 Compares the after-tax income when disabled to the lifestyle needs Performs analysis of both critical illness and long term care needs Model the issues that arise when a client becomes disabled

29 Tracks the deferred tax and displays the proper tax issues involved with owning options Both asset value and income generated from options are integrated into full financial plan Model up to 10 different stock options

30 Properties can be sold in any year and recapture or terminal loss is automatically calculated Tracks CCA, maintenance costs and rental income Enter up to five commercial properties along with their mortgages

31 Automatically calculates the OAS clawback Shows income and tax thresholds on the same graph Performs and documents annual T1 tax calculations

32 Clearly outlines disposable income that is available for investing Optimize tool automatically determines how cash flow excesses and deficiencies are handled. Fully integrates all cash inflows and outflows on an annual basis

33 Calculates and displays the estate net worth Displays any liabilities and/or deferred taxes created from assets Produces both year-by-year net worth projections and point in time net worth statements

34 Focuses on four key areas including income, taxes, cash flow and net worth Shows the difference in taxes and net worth when two scenarios are compared Shows the value of planner advice and proper financial planning

35 Focuses on taxes, net worth and after-tax net worth Helps demonstrate to clients that fees paid for planning advice are an investment Indicates the return required on the fees for the plan to get the same results as produced by the advice given

36 Calculates the estate issues involved in business planning Both assets and cash flows from the corporations are integrated with the personal financial plan Model up to six companies, including two holding companies and four operating companies

37 Tracking of both RDTOH and CDA allows the program to automatically calculate taxable and tax-free dividends Make payments to shareholders in the form of dividends, capital gains and shareholder bonuses Enter the details of the assets that make up the corporation

38 Automatically integrates with the Capital Dividend Account (CDA) Software tracks the ACB of the policies and allows for the paying of insurance dividends to owners Model corporately owned term, whole or UL insurance policies

39 Pay dividends out of the investment account and have RDTOH and CDA automatically calculated Track corporation cash flow by using the investment deposits and withdrawals Model detailed asset allocation of all corporate investment assets

40 Tracks CCA and allows for disposition of properties at any time Rental income is automatically factored into the RDTOH calculations Display the asset and liabilities attributed for up to five corporately owned real estate properties

41 Shows the current need for life insurance Determines the retirement income excess or shortfall Displays the current net worth

42 Mirrors the paper version and can be filled out electronically Easy to navigate by both you and your clients Speeds up the data gathering process

43 Displays existing data from FP Solutions files Highlights any data changes that are made Speeds up the review process.

44 Provides space for detailed notes Can be printed blank for use with new clients Captures all of the detailed data necessary to create a plan

45 Program automatically creates two scenarios within the existing client file Illustrates the impact of the concept on the clients after-tax estate Shows difference in both estate and equity values

46 Projects the future after-tax estate values of both scenarios Illustrates the impact on the clients after-tax income Program automatically creates two scenarios within the existing client file

47 Compares a regular investment strategy to borrowing against the cash value of a tax preferred insurance contract Illustrates the advantages of tax deferred growth within a life insurance policy Graphically compares both the equity and estate values

48 Allows the comparison of varies strategies within the RRSP accounts Show the advantages of early contributions, maximizing foreign content, and other common strategies Fully integrated with the rest of the program

49 Models the concept of borrowing to top off RRSP contributions Creates leverage scenario and compares it to a regular deposit scenario Integrates with an existing financial plan or can be modeled as a separate concept

50 Educates clients about the different types of investment income Compares after-tax income of interest, dividends and capital gains with the after-tax income of existing portfolio Reinforces the advantages of a tax efficient portfolio

51 Choose amongst all 17 debt areas available within the software Models the impact of holding high interest debt Can be used to uncover funds for use in investment activities

52 Shows the detailed tax liability payable on second death at life expectancy Produces a document clients are familiar with and understand Motivates the client to engage in proper tax planning strategies

53 Shows the date each year that a client stops working for the CCRA Shows the impact of any tax planning strategies that you may recommend Based on the T1 calculations built into the software

54 Demonstrates the impact taxes will have on the estate of the clients Shows four ways of paying for the estate tax: using cash, selling the assets, borrowing or using life insurance Flexibility to choose the assets that need protection and set life expectancy

55 Compares recommended strategies to current Allows you to demonstrate effects of asset allocation, deposit timing and portfolio turnover Automatically creates two scenarios that are saved within the client file

56 Creates documents that compares leveraging the investment portfolio to making regular deposits Automatically integrates into the full financial plan Allows the debt to be paid back using blended or interest- only payments

57 Calculates the lost growth on taxes paid from an investment portfolio to illustrate the true cost of income tax Lost opportunity can be calculated on client, spouse and joint non- registered accounts Helps educate clients on the benefits of tax sheltered investing

58 Three month rolling calendar list upcoming sessions Clicking the session title provides a detailed description Register for session through the calendar

59 Session list provides details of all sessions available Clicking the session title will provide a description Quickly register for a session using the button provided

60 RRSP / RRIF Non-registered Education Savings Pension Plans Annuities Real Estate Life Insurance FP Solutions Basic Single Needs, Concepts and Retirement Planning Retirement Needs T1 General Tax Risk Tolerance Financial Calculators Solve Deposit Solve Withdrawal Mutual Fund Import

61 FP Solutions Plus Goal Based Personal Financial Planning Retirement Capital Needs (Investing) Survivor Capital Needs (Life Insurance) Estate Capital Needs (Tax and Liquidity)Estate Capital Needs (Tax and Liquidity) Disability Capital Needs (DI, CI, LTC) Employee Stock Options Commercial Real Estate

62 FP Solutions Advanced Cash Flow Based Personal Financial Planning Detailed Income Projections Detailed Cash Flow Projections Detailed Net Worth Projections Change in Financial Position Planning Assistant Planning Strategies

63 FP Solutions Business Integrated Corporate Financial Planning Estate Planning (Freezes / Family Trusts)Estate Planning (Freezes / Family Trusts) Holding & Operating Companies Corporate Owned… –Life InsuranceLife Insurance –InvestmentsInvestments –Real EstateReal Estate CDA & RDTOH Calculations

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