THOMSON FINANCIAL BUILDS UPON ITS INTEGRATED WEALTH MANAGEMENT PLATFORM
Launches New Breed Of Financial Planning Tools
Rockville, MD (January 18, 2002) - Thomson Financial, a leading provider of information and technology solutions to the worldwide financial community, announced today the launch of Thomson Advisor Financial Planning, a new component to the Thomson Advisor wealth management platform that incorporates cutting-edge Monte Carlo probability analysis and life events planning capabilities to help guide financial advisors through the ongoing process of assessing, analyzing and maintaining a healthy financial future for their clients.
As a result of the strategic partnership with Financeware, Inc., Thomson Financial has fully integrated Financeware’s sophisticated calculation engine and methodology into the planning process. Additionally, Thomson Financial participated in Financeware’s second round of institutional funding, which closed in October 2001.
Thomson Advisor Financial Planning allows financial advisors to take a more active role in helping clients identify and prioritize their financial goals. When coupled with Thomson Advisor Asset Allocation, this financial planning tool becomes a powerful holdings-based planning solution that utilizes a client’s real assets in the development of a long-term financial plan and helps provide a more realistic picture of a client’s financial outlook.
“An advisor’s value proposition to the investors they advise has evolved as demand for more sophisticated tools and higher levels of service continue to grow”, said Joe Stensland, vice president of Thomson Financial’s Wealth Management Group. “To help clients meet those demands, we have built a complete solution that spans an advisor’s workflow and helps to improve productivity while delivering high-quality, consistent advice. The addition of these robust financial planning tools into our integrated platform provide real business value to our clients.”
Using Thomson Advisor, financial advisors are able to gather detailed information on an unlimited number of client goals – including retirement, education or other cash flow events – and prioritize the importance of reaching those goals. Taking into account a client’s current holdings, projected contributions and tax implications, Thomson Advisor Financial Planning analyzes and determines the probability of success for multiple goals in succession of priority, as well as for the overall plan. Financial advisors are able to measure the life goal achievement of their clients against realistic market performance using the following standards:
- Historical Audit - simulation is performed using historical returns in the order in which they occurred
- Wealth Simulator – simulation is performed using randomized historical returns
- Monte Carlo – simulation is performed using randomly generated correlated returns based on defined asset classes and is currently the industry standard in probability analysis
This allows the advisor to identify areas of the plan that may fall short and helps foster a new conversation between advisor and client that focuses on building a long-term investment strategy.
"Powered by Financeware, the addition of Financial Planning to the Thomson Advisor platform will enable advisors to help clients confidently achieve their financial goals without unnecessary compromises to their lifestyle or undue investment risk,” said David B. Loeper, president and CEO of Financeware, Inc.
Thomson Advisor is a complete wealth management solution that positions a client’s interests at the center of the advisor’s workflow and empowers financial advisors to build long-term, profitable relationships. From sophisticated financial planning tools to comprehensive investment selection and presentation capabilities, Thomson Advisor offers an integrated platform of industry leading tools and rich information that allow institutions and financial advisors to help their clients make informed investment decisions and achieve their lifetime financial goals. With Thomson Advisor, financial advisors can increase their overall productivity while enhancing the level of consistent, personalized service they provide to their clients. For more information about Thomson Advisor visit www.thomsonadvisor.com or call (888) 605-4207.
About Thomson Financial
Thomson Financial is a US$2 billion provider of information and technology solutions to the worldwide financial community. Through the widest range of products and services in the industry, Thomson Financial helps clients in more than 70 countries make better decisions, be more productive and achieve superior results. Thomson Financial is part of The Thomson Corporation (www.thomson.com), with 2000 revenues of approximately US$6 billion, a leading provider of integrated information solutions to business and professional markets worldwide. The Corporation's common shares are listed on the Toronto and London stock exchanges.
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