Garrett Planning Network cuts deal on software that creates comprehensive financial plans

Members of hourly advice group to get discount on fintech aimed at holistic planning

Jan 10, 2017 @ 12:01 am

By Liz Skinner

The Garrett Planning Network of hourly financial advisers has struck a deal with RightCapital to give its members up to a 25% discount on software to create comprehensive financial plans with clients and take a step toward meeting new Labor Department fiduciary rules on retirement advice.

RightCapital's financial planning software allows advisers to consider tax, retirement income, annuities, Social Security optimization, investment, insurance, education and budgeting items, and includes a portal for each client.

Sheryl Garrett, founder of the 240-adviser Garrett Planning Network, said she appreciated the tool's ease of use and ability to incorporate cashflow and debt-management factors. It will cost advisers in the network about $100 a month, a 15% to 25% discount off the full price.

“RightCapital has made things simple, yet it still can handle a very holistic financial planning case,” Ms. Garrett said.

(More: New fintech tools for DOL fiduciary rule launched despite questions of a Trump delay)

The planning software can help advisers get to know clients better and therefore know what financial decisions are in their best interest. That will help advisers begin the documentation process prescribed by the DOL rule requiring advisers to act in the best interest of clients when offering retirement advice, she said.

The DOL fiduciary rule begins to take effect in about three months.

(More: The most up to date information on the DOL fiduciary rule)

RightCapital also announced that Parsonex Financial Services has inked a deal to become the technology firm's first enterprise client. This partnership will put the software in the hands of up to 100 advisers.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

Where in the U.S. are RIAs growing the fastest?

InvestmentNews' deputy editor Robert Hordt talks to senior columnist Jeff Benjamin about his report on how registered investment advisers are faring in different regions of the country.

Latest news & opinion

10 must-know facts about today's 401(k) plans

Here are the latest changes in 401(k) plans across areas such as investments, fees, contributions, investment advice and more.

Questions abound as Ohio National stops commission payments this week

Advisers are grappling with how to proceed, with their clients and their businesses, as the insurer's new annuity trail policy takes effect.

Top 10 RIAs in the South

These are the largest registered investment advisory firms in the Southern U.S., based on AUM.

Top 10 RIAs in the Midwest

These are the largest registered investment advisers in terms of AUM in the Midwestern U.S.

Top 10 RIAs in the Northeast

These are the largest registered investment advice firms in the Northeastern U.S., in terms of assets under management.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print