MoneyGuide updates
Today’s clients are increasingly concerned about funding their retirement. Our latest enhancements make it easier to show them how recommendations affect their retirement income and assets, with a new Retirement Living view plus updates to the Secure and Total Income modules. Below is a quick overview of what you can expect.
Income Planning
The new Retirement Living page within Income Planning is designed to enable your clients to better understand how their goal expenses and taxes will be funded throughout their retirement years, with:
- Lifetime and Annual views that deliver a variety of details and methods to illustrate strategies to clients
- A Funding Your Retirement chart that visualizes the percentage of goal expenses and taxes paid by both income and investment assets
- New Annual Details that provide more transparency on portfolio withdrawals and taxes paid
Updated Navigation: The navigation and interface have been updated for Secure and Total Income. The Probability of Success for the Recommended Scenario is no longer accessible from a separate view. The Probability of Success for the Recommended Scenario with and without strategies has not changed.
New Results: The Enhanced Summary of Cash Flow Results within Secure and Total Income better illustrates the clients’ income sources and goal funding.
More Return Options: You can now highlight the impact of your Income Planning strategies using Average Return results in addition to the existing Monte Carlo individual trial returns.
Historical capital market assumptions
The Historical capital market assumption updates include data through 2024 which adjusts the rate of return, standard deviation, and correlations for all asset classes. The Historical base inflation rate has been updated to include the Consumer Price Index for All Urban Consumers Data through 2024.
Deprecated indices
The following indices are scheduled to be deprecated in late 2025 as they are no longer provided by our third-party vendors. As a result, asset classes using these indices will not have their returns or standard deviations updated. More information on migrating asset classes using these indices to other supported indices will be provided to affected users later this year.
- FTSE USBIG Corporate BBB Bond Index
- FTSE USBIG Mortgage Bond Index
- FTSE World Government X US Bond Index
- FTSE World Government Bond Index
Index names
The names of several indices are being updated to match the source provided by our third-party vendors. See Release Notes for details.
Projected capital market assumptions
The projected capital market assumptions have been updated by Envestnet MoneyGuide’s consultant, Harold Evensky, CFP®. This includes updates to the geometric returns, arithmetic returns, and standard deviations.
College data
College costs have been updated to include 2024-2025 data. For more details, see the Release Notes.
Health care data
Health care costs have been updated to include 2024 data for the following factors:
- Private insurance premiums
- Medicare premiums
- Medigap policy premiums
- MAPD plan premiums
- Out-of-pocket expenses
Long Term Care data
Long Term Care costs, including state averages and municipality averages, have been updated using the most recently available survey data provided by Genworth.
Wealth Studios updates
Scenario Builder
The Scenario Builder feature enables advisors to build a custom presentation comparing key data points, using a combination of various strategies. Advisors can easily choose a baseline scenario and illustrate how adjusting strategy recommendations impacts their client’s lifestyle and legacy planning needs.
This feature empowers advisors to:
- Compare key metrics across scenarios, up to 6 at a time
- Mark a scenario as the recommended scenario
- Use a single strategy in multiple scenarios with different inputs, for example selling a business for different amounts
- Print results for selected scenarios, which can include the current plan, and customize which sections print for which scenarios
- Preview reports before printing
MyBlocks updates
Budget Block
This new block provides clients with the ability to establish a budget to better understand their current expenses as well as their potential to increase their savings.
- Retirement Income Forecast Block
This block has been updated with a streamlined interface and enhanced calculations.
- Improvement to Menu
Some blocks have been relocated to new or different categories. These changes were based on user feedback.
We support you, so you can support your clients
Every enhancement we make is designed to help advisors meet the unique needs of their clients. We continue to update and improve MoneyGuide so you can deliver the very best financial planning experience. For a deep-dive on the above updates, click here to read the full Release Notes.
Watch our April release video to get an up-close look at these updates. Want to learn more? Request a demo or give us a call at 1-800-841-5312.
