Send your investors a RetireUp digital fact finder to gather some basic information to begin a retirement plan.
Start by adding a new client and selecting RetireUp - Plan started by client.
Add the investor's name, email address, and write a message.
Once you send the invite, it will generate a client folder with their name on it.
The investor will receive an email inviting them to add some details about their age, salary, when they want to retire, income sources, assets, and spending goals.
After they select Let's Start, they will begin entering some additional information.
Select Next to begin entering data.
They enter their age, salary, and retirement age. Adding their salary will generate an estimated retirement income goal as well as an estimated Social Security income benefit.
They will enter their spouse/partner's name, age, salary, and retirement age.
The system will show 68% of their current salary as their retirement income goal, but they can enter another goal if they desire.
Based on their age and salary, the software will estimate their social security income. If they already know their actual social security income benefit, they can edit the amount. They can also add pensions, rental income, etc. for other retirement income.
They add their retirement assets. Each asset can be assigned an equity, bond, or cash allocation.
Based on the asset allocations, the assets will grow on a historical hypothetical rate of return. This scenario is called First Estimate.
The Maximize Income scenario will produce a higher income level without depleting the legacy (remaining balances of assets). The investors will have to contact you to see what their maximum income will be. It is advised to review all questions with the investors to ensure accuracy.
The Retire Earlier scenario will calculate how early the client can retire and still have a legacy.
The Optimize Legacy scenario will reinvest any surpluses, possibly caused by RMDs, and increase the projected legacy.
After the investor sends the completed fact finder, they see a message stating that the information from the factfinder was sent to their advisor.
Next you will receive an email letting you know that it was completed.
Once you select View Plan, it will take you to their client folder. The prefilled plan will be titled with the month and year at which they completed the fact finder. You can customize the title of their plan.
Upon opening the client plan, you will see the fact finder has prefilled their data. Now you can go in and edit the details to their plan. The next step is setting the appointment to review their retirement plan.