NaviPlan 19.3 leverages robust healthcare dataset to power advisor- and investor-led retirement modeling

December 18, 2019

As part of latest enhancements by Advicent, the guided retirement tool in NaviPlan can harness Aivante’s data analytics to strengthen financial plans with personalized medical-expense calculations modeled within minutes

Advicent announced today it has launched NaviPlan® 19.3, enabling financial professionals to leverage a robust healthcare dataset to deliver more accurate healthcare cost projections. These forecasts can be delivered in two ways: 1) through the new NaviPlan Guided Retirement tool—a two-minute guided workflow designed to demonstrate an advisor’s value, and 2) through the comprehensive planning experience of the NaviPlan financial planning platform, both of which provide granular insight into how healthcare costs impact an investor’s retirement spending. Advisors can utilize these estimates to collaborate with clients and craft financial plans which address strategies for meeting healthcare needs in retirement.

Advicent has partnered with Aivante, a healthcare analytics company offering solutions for optimizing healthcare planning decisions, to make the latter’s smart data accessible to clients and prospects within NaviPlan through advanced APIs. Investors can securely enter information about their health, location, goals, and other factors in the Guided Retirement tool, and Aivante’s analytics can forecast how much they would likely need to cover all healthcare expenses during retirement. Then, NaviPlan can demonstrate an investor’s likely healthcare expenses, alongside leisure and living expenses, in different phases of retirement using comprehensive visual illustrations. The NaviPlan Guided Retirement tool is available here.

In addition to providing investors with a call to action to contact their advisors, financial professionals can use the healthcare expense assumptions in the NaviPlan Guided Retirement tool to begin meaningful planning conversations with clients and prospects.

“Healthcare costs have risen dramatically in the U.S. over the past several decades, and as life expectancies also increase, many investors are understandably concerned about their ability to cover medical expenses in retirement,” said Angela Pecoraro, Chief Executive Officer of Advicent. “Our most recent enhancements to NaviPlan, and our strategic relationship with Aivante, provide financial advisors with specialized data and analytics to help investors make smarter assumptions about healthcare expenses in retirement—and use this information to take planning discussions to the next level.” 
Advicent rolled out self-directed APIs giving enterprise firms the ability to build different customized digital experiences for clients and prospects in NaviPlan earlier this year. These experiences can include self-directed retirement illustrations powered by smart planning assumptions which are now enhanced with Aivante data and analytics. To learn more about the guided and self-directed digital experiences available within NaviPlan, click here.

“We consistently seek to elevate the customization, collaboration, and precision in the digital planning experiences we help advisors create,” said Tom Burmeister, Vice President of Financial Planning for Advicent. “Enriching the data and intelligence in NaviPlan allows advisors to infuse greater value into financial plans which should then bring clients closer to achieving their long-term goals.”     

About Advicent

Advicent is the financial planning technology provider of choice for over 140,000 financial professionals across over 3,000 firms worldwide, including four of the top five custodians, 15 of the top 25 broker-dealers, seven of the top 10 North American banks, and seven of the top 10 North American insurance firms. Our decades of experience empower Advicent to create scalable financial planning software; compliance workflow management solutions; fully branded client experiences through industry-leading APIs; and superior cash flow and goal-based calculations. Advicent products are designed to satisfy the needs of every investor and are used in firms of all sizes. Through our innovative product capabilities and dedicated services, we are able to help thousands of financial professionals and their clients understand and impact their financial future. To learn more, visit advicent.com or email marketing@advicent.com.

About Aivante

Aivante empowers companies, individuals and financial advisors to make informed healthcare decisions. From annual healthcare costs to projected expenses in retirement, Aivante’s machine learning technology combines individual and aggregate data to project short and long-term healthcare costs, enabling users to select the right plan and prepare for healthcare expenses in retirement. Aivante enables financial advisors to create personalized predictions of lifetime medical expenses in order to improve retirement planning and saving. In the employer benefit market, Aivante is applying its patented technology to help employers and benefits platform providers design optimal benefits packages, while enabling employees to decide which plan is likely to minimize their total out of pocket expenses.