At the IFB Tech Expo in May, I had the opportunity to share a few thoughts on solutions that supports financial advisors who want planning tools that save time without sacrificing analytical depth. For today’s advisory practices, simplicity is not a luxury but a professional necessity.
Today’s advisors are expected to produce comprehensive plans under tight timelines. Utilizing a tool that makes this easier can be a competitive advantage for financial advisors. This does not mean the tool lacks power or flexibility. Instead, it means reducing unnecessary effort to spend more time where it matters: with clients.

Simple to Use, Sophisticated in Function: The Razorplan Standard

A key approach to be successful in this domain is to simplify the experience, not the analysis. Tools should contain underlying logic that supports advanced calculations including retirement decumulation strategies, tax projections, and insurance needs. Solve engines must be robust. Tax modules must be current. And client reports must be designed for clarity and credibility. The goal should be allowing advisors to produce thoughtful, client-ready plans with fewer steps and greater efficiency.

Answering Questions Clients Haven’t Thought to Ask

One way to achieve this goal is to offer analysis proactively. This means automatically generating scenario comparisons tied to the base plan, such as early retirement, additional lifestyle expenses, or lower than expected market returns. These insights are often missed either due to time constraints, or because clients forget to ask. By incorporating this analysis to each plan, and without creating additional work to the advisor, relevant outcomes are surfaced automatically. It’s a shift that fosters more meaningful engagement and positions the advisor as a forward-thinking guide.

Expanding Risk Conversations Beyond Today

Risk management is often reduced to a single moment: what happens if a client passes away today. Yet, there is a need for a broader, multi-year view. It’s just as important to evaluate changing insurance needs over time, taking shifting income, dependents, and existing coverage into account. This results in a more complete needs analysis and supports better long-term planning. Advisors can use it to deliver more thorough recommendations and uncover opportunities across multiple products.

Planning through a Focused Lens

Clients often ask targeted questions like “How can I minimize the impact of estate taxes” or “How can I maximize income out of my retirement portfolio?” These are best answered through the lens of a specific financial planning discipline: investment management, risk management, or estate planning. The most effective planning tools support this approach by framing strategies under the appropriate context and provide side-by-side comparisons that highlight outcomes, while reinforcing the value of the advisor’s recommendations.

The Future is Professional First

Feedback continues to confirm that advisors want tools that help them deliver real advice, not just generate documents. The future of financial planning technology lies in the ability to enhance advisors’ credibility, simplify the process, surface valuable insights, and support the full range of financial planning conversations.
This vision has been at the heart of RazorPlan since day one. We strive to build technology that empowers advisors to spend less time building plans and more time building trust, ultimately delivering greater value to the clients they serve. If you missed the session, RazorPlan is offering a 30-day free trial and 10% off to IFB attendees. Details at razorplan.com/ifb.