Financial planning education and software for employers and their employees

 

financial planning software for individuals

Increase Employee Productivity and Engagement

Financial stress can significantly impact an employee's performance and focus at work. By providing financial wellness programs and software for financial and retirement planning, employers can help alleviate financial concerns, resulting in improved productivity and better overall job performance.

You can download our research paper on why offering retirement education and planning software is so important for all employers today.

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Educate Employees and Fulfill Your Fiduciary Duty

WealthTrace financial planner

Fiduciary Duty to Disclose Fees

Employers that offer a retirement plan have a legal and fiduciary duty to disclose all fees their employees pay. This includes the fees they pay on funds inside the plan. It is extremely important that these fees are not only disclosed, but are easy to find and understand. WealthTrace shows fund fees in both annual percentage (expense ratio) and dollars, which helps employers fulfill their legal, fiduciary duties.

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Increase Employee Morale and Satisfaction

A comprehensive financial wellness program demonstrates that employers care about their employees' well-being beyond their work responsibilities. When employees feel supported in their financial journey, their morale and overall job satisfaction improve. This can lead to a more positive work environment, increased loyalty, and higher employee retention rates.

WealthTrace not only helps educate employees in personal finance and retirement planning, it also allows them to project and track their financial situation and retirement portfolio accurately.

WealthTrace Support

Industry-Best Support

We have financial planning experts on hand, including a Chartered Financial Analyst (CFA®), that can help employees with their financial plan and education. Employees can even sign up for an expert one-on-one review of their plan.

Investment Account Performance

History & Performance Data

Employees can track and monitor all  of their investments and holdings in one location. View transactions, balances over time, historical performance for accounts and their holdings, fees paid on funds, and account turnover.

The ability to quickly view performance data also helps employers monitor and compare performance vs. other funds, which is part of their fiduciary duty to avoid underperforming funds.

Using historical data allows WealthTrace to be the most accurate financial planning software on the market. Compare WealthTrace vs. free calculators.

Financial Planning Scenarios

What-If Scenarios

Employees can view the probability of running out of money in retirement by running Monte Carlo simulations on their financial plan. They can run what-if scenarios on Roth conversions, higher inflation, changing tax rates, changed asset allocation, and Social Security. They can even find out how their portfolio and financial plan hold up under various historical recessions.

Main Features

  • Get a comprehensive, accurate view of your financial and retirement situation.
  • Import and link your accounts. Holdings and balances automatically update every day.
  • Option to manually enter investments and holdings. Balances automatically update every day.
  • The best support in the industry with over 40 years of experience.
  • Expert support with live chat and email support from qualified financial experts.
  • Quickly figure out if and when funds will run out in retirement.
  • View historical data, performance, and fee information for your accounts and holdings.
  • Run what-if scenarios to see how to overcome retirement road blocks and income shortfalls.
  • Vary projected inflation rates over time for a more accurate and realistic plan.
  • See how your plan holds up under historical recessions using bear market scenarios.
  • Calculate the probability of never running out of money with Monte Carlo Simulations.
  • Figure out the best time to make a Roth IRA transfer.
  • Model rental income and the sale of real estate.
  • Use the solving tool to figure out how to achieve multiple goals.
  • Create and save multiple plans, allowing you to run through a variety of scenarios.
  • Have a WealthTrace expert guide you through your plan online.
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An average financial plan costs $2,400

(Source: https://www.kitces.com)

Employees can get one-on-one help completing their plan by having an online meeting with our resident WealthTrace expert.

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