What’s Right is RightCapital

Note from the Publisher:  RightCapital is a unique financial planning platform that combines financial and tax planning, integrating Social Security optimization, budgeting, cash flows and more.  It was developed by a team respondinig to other platforms that were either overly simplistic or far too complicated.  According to their website, advisors can “Create a financial plan in just 10 minutes! No training required.”  We’ve seen lots of advisor fintech since launching FintekNews, and this one seems to have the formula just right. 

RightCapital today announced the release of an enterprise solution version of the firm’s financial planning platform that has been lauded by financial planning technology reviewers.  Its planning software platform includes capabilities to help advisors comply with the new U.S. Department of Labor fiduciary regulation. RightCapital also announced today that it has signed Parsonex Advisory Services as the firm’s first enterprise client.   The agreement will provide access to RightCapital’s financial planning platform to all financial advisors affiliated with Parsonex Advisory Services.

With the enhancements RightCapital launches today, the financial planning technology innovator’s solution now includes capabilities that address retirement income, annuities, Social Security optimization and tax­efficient drawdown strategies.  The easy­to­use tools from RightCapital offer financial advisors a single planning solution they can use to construct a holistic view of a client’s retirement plan.  The newly added enterprise feature enables advisors who work at large enterprises to share clients and also allows the firm’s management and compliance departments to control access, monitor usage and review clients and their financial plans.  

It is critically important for advisors acting as a fiduciary to understand their clients by obtaining and documenting vital client information and creating a holistic financial plan. Unfortunately, with some cumbersome legacy financial planning tools the financial planning process can be lengthy and expensive. “The average time for an advisor to create a financial plan could be as much as 6 to 8 hours with those older financial planning systems. It can take up to six months of dedicated focus for advisors to get comfortable using those older, overly complex financial planning technology tools,” said Shuang Chen, co­founder and CEO of RightCapital. 

“We created an intuitive and easy ­to­ use solution that takes 30 to 60 minutes for an advisor to create a plan with minimum training,”  Chen said.  “Our financial planning tool marries ease ­of­ use with truly robust capabilities. RightCapital is a powerful tool for advisors who are looking to quickly ramp up their business, or streamline an existing business in a post­DOL world”.

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