Planit:User Levels

From Planipedia
Jump to: navigation, search


Planit.gif Learn by Watching!


PlanPlus Planit.jpg
There is more than one way to learn about PlanPlus Planit. Check out our other Training options, from structured tracks around planning types, to self-serve, mix-and-match topics.



In this Video you will Learn...
What are the benefits of subscribing to a higher level of PlanPlus Planit?
• PL1, 2, and 3 differences - process flows, screens etc
• Show planplus.com Level Selector

Keep on Track! Continue training on...
Getting Started Home Screen
Why You Should Use Planit

Other Related Topics
Navigation and Orientation Process Flows Introduction to Investment Management
Introduction to Modular Planning Introduction to Life Planning Introduction to Integrated Planning


The material in this video may differ somewhat from what you see on your site due to difference in version, jurisdiction, corporate content or access level. Regardless of these differences most of the core functions are consistent across all sites, so you'll be able to benefit by and large from what you learn in this video.


Planit.gif Learn by Reading!



Community Edition

PlanPlus Planit Community Edition is a FREE version of the Professional Level Editions. It is not typically used to do planning for clients, but rather, is used by insurance or investment advisors for calculator work, or it is periodically used by an advisor to create a quick report for a modular goal, i.e. educational funding.

What can you do with it? This level provides FREE tools for advisors to perform goal based retirement planning and to also generate PDF Investment Policy Statements. In addition, there are a number of calculators, most notably a debt consolidation calculator.

PlanPlus Planit Community Edition supports over 50 countries with basic currency, graduated taxation calculations, asset classes and more. The client’s country of residence drives the rules that are applied. More advanced localization is available in many countries like Canada, US, UK, China, Malaysia and so on. The software is available in 12 languages, with additional languages in development.

Online support is provided to Community Edition users through www.planipedia.org. Users may upgrade to one of our professional levels at any time.

Professional Level 1

Professional Level 1 is often used by advisors who have insurance and/or securities licensing, who are looking for a fairly quick way to do a retirement projection. Advisors who are primarily focused on investments and wish to provide a higher level of service with less work cam also benefit from Professional Level 1 subscription. This subscription level can also be used by advisors who want their assistants to provide a far more meaningful level of support to their advisor (and clients) versus the normal quarterly or annual statements.

What can you do with it? With Professional Level 1 you can develop a simple or more comprehensive Investment Policy Statement (IPS). If used with a client with whom you do not have all the assets, the client will often want to see report showing all of their assets. Among other things, to do a proper Investment Policy Statement you need to gather the details of the assets that you do not manage. When you are done preparing an IPS you can easily illustrate the value of one advisor coordinating the client’s entire portfolio.

Professional Level 1 also features a Retirement Goal Calculator that uses graduated tax rates. It provides you with a quick way to do a thorough retirement income projection. Model a great strategy that will give the client what they want by following a roadmap you create. Professional Level 1 can also be used for death/disability analysis, educational funding an analysis (features a table showing costs for hundreds of colleges and universities), and any other accumulations goals.

Professional Level 2

Professional Level 2 is used by a variety of advisors, including those who are insurance and securities licensed, as well as unlicensed advisors (fee only), accountants, etc.

What can you do with it? Professional Level 2 is PlanPlus’s most popular subscription. That is because it gives you all the features of Professional Level 1 in addition to Cash Flow Base Life Goals Planning. The ever-popular Personal Financial Strategy (PFS) document will identify where your clients are headed, given their current behaviour and our unique Auto Model process. This process will identify what behaviour changes your clients need to make in order to achieve their goals.

Following the Personal Financial Strategy (PFS) template you can document your advice and recommendations that clients will want to implement. They will want to implement the advice because your recommendations will resonate as solutions to their problems. The PFS document will clearly lay out exactly what your clients need to do to achieve all their goals. The plan document is not just a mass of numbers and graphs – it provides explanations, in layman’s terms.

There are as many 40 different reports that can be generated with Professional Level 2. This would include a simple net worth statement, asset allocation report and analysis, insurance needs, and of course retirement cash flow. One report in growing popularity is the review report called Progress Review. PlanPlus Planit can produce a year-to-year Progress Review that compares cash flow, tax, assets, liabilities, net worth, etc. This is a powerful report that showcases the advisors value.

Professional Level 3

Professional Level 3 is used by advisors who need access to the whole tool set. At least part of their services typically include looking at the clients affairs in a more holistic way. No stones are left unturned. For example, Stock Options are analyzed and Living Benefit insurance is considered. This higher level of planning is also appropriate for advisors holding forth as a financial planner or performing more advanced estate and business planning functions.

What can you do with it? Professional Level 3 is used to tackle just about anything that might logically be a part of a comprehensive plan. Enhance your Life Goals Planning by incorporating estate planning, Long Term Care and Critical Illness planning into your client reports. The documents that are produced are very flexible and can be easily edited to create your own look and feel.

There are as many 40 different reports that can be generated with Professional Level 3. This would the Integrated Financial Plan, a simple net worth statement, asset allocation report and analysis, insurance needs, and of course retirement cash flow. One report in growing popularity is the review report called Progress Review. PlanPlus Planit can produce a year-to-year Progress Review that compares cash flow, tax, assets, liabilities, net worth, etc. This is a powerful report that showcases the advisors value.