EISI — NaviPlan Extended

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From the June/July 2007 Review of Estate Planning Systems

NaviPlan Extended is EISI’s comprehensive financial, small business, retirement and estate planning software, providing a powerful system that supports all planning models and wealth transfer techniques. It also supports net worth and cash flow management, goal planning and education planning, and support for an unlimited number of plans per client. The system offers multiple what-if comparisons that are viewable side-by-side to determine the best solution for reaching the goals of the client using various assumptions. NaviPlan Extended costs $1,250 for a single user with one year of support and product updates. A two-year subscription is $2,250. NaviPlan Central (a web-based system that provides online access to both NaviPlan Standard and NaviPlan Extended and other business tools) costs $995 per year, while NaviPlan Standard starts at $625. EISI also offers the Ibbotson Associates Mean Variance Optimizer as an add-on for $100.

Ease of Use/Basic Functionality -- 5 Stars
NaviPlan Extended opens to a well-designed interface that provides primary navigation components on the left and top of the screen, reserving the majority of the page for data entry and presentations. The process of entering client data begins with selecting the type of client, whether individual or joint, followed by entering basic information about them and their family members and other beneficiaries. Financial data can then be entered by creating either a summary Financial Assessment or a more detailed Financial Plan. The summary versions can be easily switched into detailed plans if necessary.

All data entry is performed on intuitive entry sheets that automatically calculate data as it is entered, providing a quick overview of rates, values and other data. The interface includes tabs for moving between related data-entry tasks, such as estate, retirement or education planning goals. Back and Next buttons also enable users to easily move between pages, including the How Am I Doing?, What Are My Options? and Results sections, which show calculations and provide interpretation of plan results based upon input assumptions and financial values. More advanced features help to accommodate clients with greater wealth and more complicated holdings, providing increasingly detailed and flexible planning and analysis capabilities. The system is generally easy to use, providing ample guidance through most tasks.

Calculations -- 5 Stars
NaviPlan Extended supports state and federal inheritance and estate taxes and provides the ability to create multiple plans per client. The system supports all traditional methods of estate planning wealth transfer, including GRAT, GRIT, GRUT, CRUT, CRAT, CLAT, CLUT, ILITS, PIF, QPRT, SCIN, family partnerships and annuities, as well as goal planning for retirement, education, major purchases and emergency funds. NaviPlan Extended also includes net worth and cash flow management functions, stock option modeling, Monte Carlo analysis, a planning assistant function, and small business planning for C-corporations and flow-through entities including S-corps, LLCs and partnerships. The system generally provides planning options in two steps: the Financial Assessment, which focuses primarily on the current financial situation of the client, and the full Financial Plan, which provides more goal-based capabilities.

Client Presentation Tools -- 4.5 Stars
Reporting and presentation options in NaviPlan Extended enable the creation of plans that are comprehensive and can manage even the most complex clients, yet are easily understandable thanks to outstanding visual elements, including charts and graphs that offer some customization options, along with automated action-focused text reports that use plain language. The system can also output hardcore financial reports and comes with standard options for cash flow, tax options, liquidity needs, gross estate, estate liabilities, scenario summary or detail, comparison reports and flowcharts, along with other options. These reports can be organized and saved in any manner for building client deliverables.

Help, Support & Training Options -- 5 Stars
NaviPlan includes high-end built-in Help utilities, including the Planning Assistant, Help Video Clips, and context-sensitive assistance features. Live support is included in the price of the system, along with an online support center (support.eisi.com) that includes self-study guides, training videos, a knowledgebase, support forums and access to program updates. Web-based and in-person training options are also available.