Exceptional Advice Just Got Easier FP Solutions.
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Transcript of Exceptional Advice Just Got Easier FP Solutions.
Exceptional Advice
Just Got Easier
FP Solutions
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
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
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 Concepts9. Customization10. Software Support
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.
#2 Fact Finder
• Fully integrated• Easy to use• Financial Snapshot• Printable• Data entry method• Email to client• Saves time
#3 Annual Review Tool
• Displays existing data
• Method of data entry• Fully integrated• Printable• Highlights changes• Easy to use• Saves time
#4 FP Focus
• Executive summary covering 9 key areas of financial plan.
• Consistent and client-friendly reports
• Flexibility to change graphs on the fly.
#5 Planning Assistant
Guides you through:
1. Basic Data2. Review Data3. Current Situation4. Save More5. Asset Allocation6. Recommendation
s7. Printing the Plan
#6 Planning Strategies
• 20 Strategies covering common areas including:– Income Splitting– Retirement Strategies– Tax Planning– RRSP / RRIF– Investment
Strategies– Pension / LIRA
#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
#8 Planning Concepts
• Estate Multiplier• Insured Annuity• Retirement Lever
age• RRSP Strategies• RRSP Leverage• Income Comparis
on• Debt Consolidatio
n
• Terminal Return• Tax Freedom Day• Tax Funding Alternati
ves• Investment Strategies• Investment Leverage• Lost Opportunity Cost
#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
#10 Software Support
• Toll-Free Tech Support– 8:00 AM to 8:00 PM
(EST)
• www.training.cch.ca– Live web classroom– Recordings of live web
sessions– Interactive tutorials– Knowledge base
• New Tutorial CD• New User Reference
Guide
IPC Advisor DiscountIPC Advisor DiscountSingle user license
Software Level Annual 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 demo1-800-268-4522 or www.cch.ca
Tracks both the year end balance and deferred taxes
Automatically calculates annual RRSP contribution maximums and RRIF minimums
Allocate amongst seven different asset categories
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
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
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
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
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
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
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
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
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
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
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
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
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
Automatically calculates the OAS clawback
Shows income and tax thresholds on the same graph
Performs and documents annual T1 tax calculations
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
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
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
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
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
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
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
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
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
Shows the current need for life insurance
Determines the retirement income excess or shortfall
Displays the current net worth
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
Displays existing data from FP Solutions files
Highlights any data changes that are made
Speeds up the review process.
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
Program automatically creates two scenarios within the existing client file
Illustrates the impact of the concept on the client’s after-tax estate
Shows difference in both estate and equity values
Projects the future after-tax estate values of both scenarios
Illustrates the impact on the client’s after-tax income
Program automatically creates two scenarios within the existing client file
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
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
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
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
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
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
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
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
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
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
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
Three month rolling calendar list upcoming sessions
Clicking the session title provides a detailed description
Register for session through the calendar
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
• RRSP / RRIF• Non-registered• Education Savin
gs• Pension Plans• Annuities• Real Estate• Life Insurance
FP Solutions BasicSingle Needs, Concepts and Retirement Planning
• Retirement Needs• T1 General Tax• Risk Tolerance• Financial
Calculators• Solve Deposit• Solve Withdrawal• Mutual Fund Import
FP Solutions PlusGoal Based Personal Financial Planning
• Retirement Capital Needs (Investing)
• Survivor Capital Needs (Life Insurance)
• Estate Capital Needs (Tax and Liquidity)
• Disability Capital Needs (DI, CI, LTC)
• Employee Stock Options• Commercial Real Estate
FP Solutions AdvancedCash Flow Based Personal Financial Planning
• Detailed Income Projections• Detailed Cash Flow Projections• Detailed Net Worth Projections• Change in Financial Position• Planning Assistant• Planning Strategies
FP Solutions BusinessIntegrated Corporate Financial Planning
• Estate Planning (Freezes / Family Trusts)
• Holding & Operating Companies• Corporate Owned…
– Life Insurance– Investments– Real Estate
• CDA & RDTOH Calculations