Free Social Security Planning and Financial Planning Software

Wealth Planning Solutions

Below is a list of our technologies that wealth managers use for comprehensive financial planning and client acquisition/engagement.

1. Social Security Maximizer™

The Social Security Maximizer™ standard version is FREE. The software also handles recent changes to Social Security rules that took effect on 11/2/2015 and affect tens of millions of people. The premium version that gives unlimited access and customized reports, is available for a nominal fee. This software performs maximization of Social Security benefits for all possible personal and financial situations such as earned income, government pensions, dependent children's benefits, disability, and timing strategies. With only one input screen and instantaneous tips (green question marks), it is also a powerful tool to quickly learn Social Security rules that apply to a particular person's situation.

2. Social Security Turnkey Program

This package is a powerful combination of:

- Premium version of Social Security Maximizer™
- Social Security Checkup, a separate branded online tool for advisor websites to generate leads and gather client data, and
- Branded marketing collateral, and customized client reports.

This product independent package has been approved by several major broker/dealer firms.

3. Personal Financial Index®

OMYEN Corp. is credited with the invention of Personal Financial Index® ( PFI ), a comprehensive financial health benchmark. The PFI application is an advisor branded tool that allows individuals and families to benchmark their personal financial health, discover the financial gaps, and to get the PFI Score. Financial advisory firms use this education based technology to efficiently acquire new clients from their target market. A highly engaging user experience motivates the prospective clients to create their profiles and discover the need for professional advice. The advisor view of PFI is used to create and review client/prospect profiles for onboarding and cross selling opportunities. It is equipped with rules based alerts for an efficient client acquisition and onboarding. It is also a very good web traffic generator. The integration of PFI with OMYEN's other suites eliminates the need for data reentry and enabling an engaging advisor-client collaboration.

4. Wealth Planner^TM

The Wealth Planner^TM is a sophisticated yet intuitive planning platform that allows financial advisors to efficiently create both goals based and cash flow based financial plans. This online platform can be accessed via all leading web browsers on most computing devices running on different operating systems (Windows, Mac, Android). It produces financial plans that are aligned with client life stages and supports different business models for financial advice. The Wealth Planner^TM allows advisors to offer differentiated and actionable advice efficiently. Read more ... Show details

2a. Sustainable Retirement Income Plan (SRIP): The SRIP module allows advisors to educate their clients on the retirement lifestyle that can be supported by their retirement portfolio. It is suitable for clients who are nearing retirement as well as for those who are already in retirement.
This module captures the personal and lifestyle information, retirement savings/contribution, different economic and market factors, and advisor selected withdrawal order to minimize the tax consequences. No data reentry is required if a particular data element has been captured elsewhere in the Wealth Planner^TM platform or entered by the client in the Client Information Center (client portal) product. This module then generates the estimated net income projections from all sources against the expected discretionary and non discretionary expenses during retirement. The healthcare expenses from Retiree Healthcare Planner (licensed separately) can be included in the plan with just one click. The projected income also takes into account the income from Social Security, pensions and annuities, estimated taxes, and required minimum distribution.
This module also plans for longevity risk and legacy. This analysis helps advisors to decide the right portfolio mix and insurance products to protect retirement income needs of their clients.
The simulations involve different life expectancies and varying annual rates of return during each year of a particular life expectancy. They allow the advisors to easily perform the probability analysis on retirement success.
Beside sustainable retirement income plan, the Wealth Planner also features "regular" retirement income planning. This functionality allows advisors to identify the timeframe when a client may run out of money if a client has limited assets and the plan has to pay retirement expenses in full. The Monte Carlo simulations allow advisors to vary: life expectancy, rate of return on portfolio, and inflation.

2b. Savings Plan: A savings plan is a prescriptive approach toward saving for different financial goals. Financial advisors use this functionality to serve younger promising clients (children of older clients) without compromising on their margins. For younger clients, this plan helps establish a savings discipline and budget management. A savings plan is based on OMYEN's proprietary optimization of a client's competing financial goals, lifestyle, and income constraints. OMYEN's Savings plan is a highly efficient and scalable way to serve younger clients. If a client has already gone through the PFI based financial checkup, the Savings Plan can be generated with just one click. It's that simple!

2c. Retirement Savings Plan: The Retirement Savings Plan (RSP) module allows advisors to develop a comprehensive retirement savings plan that features different contribution rates and retirement timeframes for joint clients. It also gives them the ability to use different rates of return before and during retirement, and Monte Carlo simulations based on different rates of return to develop a robust retirement savings plan. Rates of return can also be dervied dynamically from a changing portfolio mix.

2d. Risk Capacity Index (RCI): Unlike most risk profiling systems, this proprietary risk profiling functionality is designed to assess a client's risk capacity using structural and psychological perspectives. These concepts minimize the volatility in a client's risk profile due to market fluctuations. Based on the RCI Score, a client is assigned one of five risk profiles. The RCI results are automatically integrated into the Asset Allocation module. Financial advisors who pay separately for risk profiling tools can save money with the Wealth Planner^TM .

2e. Asset Allocation: The Asset Allocation engine offers advisors two choices: OMYEN's proprietary asset allocation and the ability to use their own custom allocation models. This module of Wealth Planner^TM generates the asset allocation for a financial goal at two different levels: asset category level (equity, fixed income, and cash) and asset class levels. It also provides an estimate of the expected annual return and risk for the current and suggested portfolios. These allocations are based on an individual's RCI and time horizon for a financial goal. Advisors with proprietary asset management process can upload their custom asset allocation models and leverage the asset allocation optimization functionality to develop custom portfolios with highest expected risk adjusted returns. Similar to the RCI, there aren't any separate charges for the asset allocation engine.

2f. Insurance Planning: This module allows you to quickly analyze your client's exposure to life, disability, and other potential risks. The analyses and recommendations are presented in an easy to understand and actionable format.

2g. Lifetime Cash Flow Analysis: The Wealth Planner^TM is designed in a unique way to easily capture the data and present lifetime financial projections for a client. It is designed to handle a wide variety of client's varying income and expenses with different timeframes. The overall cash flow including distribution from different assets assigned to different financial goals, and cash flow requirements to support lifestyle expenses and to pay for future financial goals, provides a true cash flow based financial planning. Whether it is executive compensation or ownership in stock options and limited partnerships, the Wealth Planner^TM allows you to manage it seamlessly.

2h. Executive Compensation Planning: The Executive Comp. Planning module of Wealth Planner^TM allows you to model different types of grants and different types of events on those grants. You also have the ability to review projected cash flow from different grants as well as their projected valuation. Results of this module are integrated into the detailed cash flow planning.

2i. Estate Planning: The Estate Planning module of Wealth Planner^TM simplifies the complex world of estate planning. Its intuitive user interface allows advisors to decide on applicable trust and other estate planning strategies that are based on a client's needs and preferences and offer efficiencies for income, gift, and estate taxes. Advisors can run different 'what if' scenarios to review estate taxes and wealth transfers.

2j. Client Reporting: This module allows financial advisors to organize different client report sections. They use the flexibility of copying and pasting an executive summary in client reports to effectively communicate the action plan. The client report can also be branded to produce a customized financial plan. Certain client reports can also carry a company specific additional disclosures.

5. Retiree Healthcare Planner^TM

The standard version of Retiree Healthcare Planner (ReHP) is FREE for all financial advisors. It can be used either as a standalone product, or along with the Wealth Planner^TM. It is industry's first personalized planner for healthcare expenses during retirement. It allows financial advisors to create robust retirement income plans and analyze suitability of different long-term care and other insurance products. Advisors using other financial planning software can easily incorporate the output from this tool into those tools. This tool takes into account an individual's high level health history, lifestyle, location, and preferences for care and Medicare choices to project out the total cost of healthcare services. You can easily compare the cost across different Medicare programs as well as the cost/benefit of a Long Term Care policy that a client might have. The long-term care modeling functionality allows the cost/benefit comparison of different products. OMYEN complements this offering with a marketing package to attract more clients in 55 - 65 age group.

6. Client Information Center (CIC)

The Client Information Center is a visually rich client portal that advisors can make available to their client in a branded format. This portal allows clients to maintain their detailed financial information, securely store and optionally share important documents with advisors, and review different reports from advisers. The personal financial information section of CIC is tightly integrated with the Wealth Planner^TM to reduce data entry for advisors and effectively plan for client meetings. This information can also be integrated into different CRM systems.
Storing and sharing of some important documents with advisors is seamless and equipped with advanced alerts. Conversely, advisors can easily share Wealth Planner financial plans and reports from other systems with clients.

Retirement Plan/Workplace Solutions

Below is a list of our technology products that are used by retirement plan advisors to effectively educate retirement plan participants and offer them 1:1 financial plans. Employers also license some of these technologies directly.

1. Enterprise Retirement Planner™ For Retirement Plan Advisors

Financial advisors and consultants are challenged to profitably offer 1:1 retirement planning service to retirement plan participants. The Enterprise Retirement Planner™ (ERP) is designed to efficiently deliver advanced and customized retirement plans to retirement plan participants. The ERP is used for planning at individual plan participant level as well as enterprise level. With its intuitive user interface and actionable plans, it allows retirement plan advisors to efficiently improve the retirement outcome for their retirement plan sponsor clients. A company wide retirement scorecard allows plan sponsors to measure the effectiveness of their retirement benefits.

2. PFI^TM For Retirement Plan Participants

A customized version of PFI for workplaces provides unbiased financial education to plan participants. This tool influences people for increased plan participation and ERISA compliance.