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WealthTrace Retirement Planning Software from WealthTrace
Offers simulation of different retirement scenarios, tax projections, and expense tracking. Users can create visual reports and share planning updates easily.
Product analysis by function
Retirement Planning Systems for Financial Planning
Specialized software for modeling retirement scenarios, calculating required savings rates, projecting retirement income needs, and analyzing Social Security optimization strategies.
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Client Data Management
(9 Yes /9 Known /10 Possible features)
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Comprehensive Profile Storage Ability to capture and store detailed personal, family, and demographic data for each client. |
WealthTrace captures and stores detailed client data including personal, demographic, and financial information as part of its retirement planning processes. | |
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Document Management Upload and link client documents for reference and compliance (e.g., tax returns, Social Security statements). |
Supports uploading and linking documents for reference and compliance, such as tax returns and Social Security statements. (Source: product documentation and feature overview) | |
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Customizable Data Fields Option to configure and add new fields as needed by the advisor. |
Custom fields can be added/modified, allowing advisors to tailor data collection. (Source: user guides, 'custom fields' mentioned in marketing materials) | |
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Data Import Capabilities Support for bulk or API-driven import of client data from CRMs or custodians. |
Supports data import from CSV and Excel as well as some custodians; API access not primary but bulk import is possible. (Source: FAQ) | |
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Multi-Client/Household Support Ability to manage planning for couples or extended households. |
Allows management of planning for couples and entire households. Household-level planning is a key scenario. (Source: Tutorials) | |
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Access Controls Granular user permission management for client confidentiality. |
Advisor/admin controls over user permissions and confidentiality. (Source: Advisor setup documentation) | |
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Audit Trails Track and log changes to client data for compliance. |
System provides audit trails of client data changes for compliance. (Source: Compliance features page) | |
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Data Encryption Secure encryption for data at rest and in transit. |
Data encrypted at rest and in transit using industry-standard protocols. (Source: Security policy statement on website) | |
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Data Backup Frequency How often the client data is backed up. |
No information available | |
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Multi-Device Accessibility Access client data from web, tablet, or mobile devices. |
Accessible via web, tablet, and mobile-responsive interfaces. (Source: Product description and user testimonials) |
Retirement Scenario Modeling
(10 Yes /10 Known /10 Possible features)
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Goal-Based Planning Set and track retirement lifestyle goals. |
Users can set and track retirement lifestyle and savings goals. (Source: Feature list and UI screenshots) | |
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Monte Carlo Analysis Probability-based simulations for potential retirement outcomes. |
Monte Carlo simulations supported to project potential retirement outcomes with probabilities. (Source: Main simulations feature pages and guides) | |
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Multiple Scenario Comparison Contrast different saving, spending, and retirement age combinations. |
Side-by-side comparison of multiple plan scenarios is available. (Source: Scenario comparison tools) | |
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Sensitivity Analysis Test plan sensitivity to variables such as inflation or market returns. |
Sensitivity analysis for variables like inflation and investment returns supported. (Source: Analysis options mentioned in scenario tools) | |
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What-If Calculators Interactive tools for instant scenario changes (e.g., early retirement). |
'What-if' calculators and instant scenario adjustments are a core feature. (Source: Interactive scenario modeling tool descriptions) | |
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Retirement Age Flexibility Ability to set and model single or phased retirement ages. |
Supports both single and phased retirement age modeling. (Source: Age configuration settings in workflows) | |
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Deferred and Partial Retirement Support Model phased retirements, encore careers, and bridge jobs. |
Partial/deferred retirement, encore careers and bridge jobs can be modeled within WealthTrace. (Source: Scenario customization support) | |
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Tax Rate Assumption Flexibility Customizable current and future tax rates assumptions. |
Allows users to project with custom current/future tax rates. (Source: Tax assumptions area in plan design) | |
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Outcome Probability Reporting Reporting on the probability of plan success based on simulation. |
Probability of plan success is reported, based on simulation outcomes. (Source: Monte Carlo reports) | |
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Scenario Save and Archive Save and revisit previous scenario analyses. |
Previous scenarios can be saved and accessed later for comparison. (Source: Save/archive features) |
Savings and Contribution Planning
(10 Yes /10 Known /10 Possible features)
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Savings Gap Analysis Calculate shortfall between projected assets and retirement income needs. |
Identifies savings gap and models shortfall between portfolio and income needs. (Source: Gap analysis reports) | |
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Optimal Savings Rate Calculator Automatically compute required savings rates to hit client goals. |
Automatically computes required savings rate to meet client-set goals. (Source: Savings calculators) | |
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Contribution Scheduling Model custom schedules for 401(k), IRA, HSA, or other retirement account contributions. |
Custom contribution schedules for accounts can be modeled. (Source: Retirement account modeling section) | |
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Employer Match Modeling Calculate matching contributions and impacts on plan health. |
Employer matches can be configured and modeled in account projections. (Source: Feature walkthroughs) | |
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Catch-Up Contributions Handling Support for modeling age-based increased contribution limits. |
Catch-up contributions are supported for relevant-qualified accounts. (Source: Support docs for 50+ contribution modeling) | |
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Multi-Account Projections Project outcomes using multiple account types and sources. |
Multiple account types can be included in projections. (Source: System allows for several retirement assets to be modeled together) | |
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Automatic Inflation Adjustments Apply inflation assumptions to future savings estimates. |
Automatic inflation adjustments enabled for all future savings and expenses. (Source: Plan settings and assumption guides) | |
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Custom Retirement Accounts Add and configure non-standard or custom account types. |
Non-standard or custom retirement accounts can be added and configured. (Source: Custom account management section) | |
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External Account Integration Ingest current balances and transactions from custodians or aggregators. |
External accounts and account data can be imported to update balances and projections. (Source: Support for account aggregates and import) | |
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Contribution Limit Warnings Automatic alerts if projected contributions exceed legal annual limits. |
Warns when contributions exceed IRS/legal annual limits. (Source: Contribution alert messages in workflow) |
Retirement Income Planning
(10 Yes /10 Known /10 Possible features)
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Income Source Modeling Project income from pensions, annuities, Social Security, rental income, and other sources. |
Can project income from multiple sources including pensions, annuities, Social Security, and rental. (Source: Income modeling features) | |
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Withdrawal Strategy Simulation Model various withdrawal strategies (e.g., 4% rule, bucket, dynamic withdrawals). |
Withdrawal strategy simulation (like 4%, bucket, etc.) is supported. (Source: Withdrawal planning options in UI and documentation) | |
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Required Minimum Distribution (RMD) Calculation Automate RMD forecasts for tax-deferred accounts. |
Calculates and automates RMD forecasts for retirement accounts. (Source: Feature details page) | |
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Tax-Efficient Drawdown Sequencing Model optimal order of account drawdowns to minimize taxes. |
Supports modeling of tax-efficient sequencing for withdrawals. (Source: Tax efficiency strategies in FAQs and tutorials) | |
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Longevity Modeling Account for client-specific longevity projections and risks. |
Accounts for client-specific longevity risks and projections to avoid outliving savings. (Source: Longevity modeling UI options) | |
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Expense Tracking and Projections Forecast and categorize retirement living expenses. |
Forecasts and categories living expenses in retirement. (Source: Expense modeling and projection documentation) | |
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Spending Shock Events Model possible one-time expenses (e.g., healthcare events, home purchase). |
Allows modeling of one-off/spending shocks such as healthcare or home purchase. (Source: Shock event entry field in planning workflow) | |
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Income Gap Analysis Identify and quantify the gap between guaranteed and required income. |
Identifies income gaps between guaranteed and required income. (Source: Income gap reporting tools) | |
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Multi-Year Cash Flow Reporting Report cash flows year-by-year over the retirement period. |
Reports year-by-year cash flow across retirement period. (Source: Retirement cash flow report outputs) | |
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Custom Inflation Assumptions Allow separate inflation rates for different expense categories. |
Allows category-specific inflation assumptions. (Source: Advanced inflation configuration in reports/plans) |
Social Security Optimization
(6 Yes /6 Known /10 Possible features)
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Benefit Projection Integrate actual or estimated Social Security earnings and estimate benefit by claim age. |
Integrates Social Security earnings and estimate benefits by claim age. (Source: Social Security modeling feature page) | |
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Filing Strategies Support analysis of claiming strategies (early, FRA, delayed, spousal, survivor). |
Supports analysis of claiming strategies: early, FRA, delayed, spousal, survivor. (Source: Filing strategy simulation tools) | |
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Taxation of Benefits Account for federal and state taxation of Social Security income. |
Calculates federal and state tax on Social Security as part of projections. (Source: Tax documentation examples) | |
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Break-Even Analysis Calculate break-even ages for filing at different times. |
Break-even analyses for various filing ages included. (Source: Social Security benefit optimization feature) | |
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Restricted Application Modeling Analyze effect of restricted application for eligible clients. |
No information available | |
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Earnings Test Simulation Model impacts of working and income on benefits before FRA. |
No information available | |
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Survivor & Divorcee Benefits Handle special cases for survivors and ex-spouses. |
No information available | |
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Integration with Retirement Cash Flows Automatically include Social Security benefits in overall income plan. |
Social Security benefits are automatically included in total cash flows and income planning. (Source: Integration with income plan overview) | |
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Annual Statement Import Import official Social Security statement data (e.g., .xml or PDF parsing). |
No information available | |
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Benefit Start Age Flexibility Allow input of custom benefit start ages for client & spouse. |
Benefit start age (customizable) for client/spouse in Social Security scenario setups. (Source: UI configuration) |
Tax Planning and Analysis
(6 Yes /6 Known /10 Possible features)
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Tax Bracket Visualization Show projected tax brackets per year in retirement. |
Year-by-year tax brackets projected alongside plan. (Source: Tax reports section and visuals) | |
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Marginal Effective Tax Rate Calculation Display impact of withdrawals or conversions on total tax liability. |
Shows marginal effective tax rate calculations; impact of conversions/withdrawals visible. (Source: Tax impact analysis tools) | |
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Roth Conversion Analysis Simulate Roth conversions and quantify long-term effects. |
Roth conversion modeling and its multiyear tax effects included. (Source: Conversion analysis tools) | |
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Capital Gains Realization Modeling Include planning for taxable investments and capital gains events. |
Capital gains realized from taxable accounts can be planned/modelled. (Source: Investment tax analysis section) | |
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State-Specific Tax Rules Customize tax projections to client’s state of residence. |
No information available | |
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Medicare IRMAA Simulation Estimate Medicare premium surcharges due to income spikes. |
Medicare IRMAA (income-related premium) modeling is supported in projections. (Source: Feature list) | |
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Deductions and Credits Support for common deductions/credits affecting retirees (age 65+, medical deduction, etc.). |
No information available | |
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Estate and Inheritance Tax Calculation Model potential estate/inheritance taxes and gifting strategies. |
No information available | |
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Year-End Tax Summaries Generate annual tax summary reports for clients. |
Exports annual tax summary reports for clients. (Source: Tax summary report option in reporting tools) | |
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Tax Law Update Frequency How often the system updates modeling for new tax laws. |
No information available |
Integration and Data Connectivity
(2 Yes /2 Known /10 Possible features)
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API Access Available developer APIs for programmatic data import/export. |
No information available | |
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Account Aggregation Support Automatic syncing of external bank, investment, and retirement accounts. |
No information available | |
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Custodian/CRM Integration Integrate with major custodians and CRM platforms. |
No information available | |
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Real-Time Data Feeds Support for live prices and position updates. |
No information available | |
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File Import/Export Options Support for CSV, Excel, Open Financial Exchange (OFX), and PDF files. |
File import/export supports standard formats: CSV, Excel, PDF. (Source: Import/export settings in help documentation) | |
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Two-Factor Authentication Support Secure login and integrations to protect data flows. |
Two-factor authentication available for advisor and client logins. (Source: Security documentation and login UI) | |
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Single Sign-On (SSO) Seamless login across platforms with corporate SSO. |
No information available | |
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Integration with Planning Tools Connect to proposal, risk profiling, or document signing tools. |
No information available | |
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Update/Sync Frequency How often external data updates (e.g., balances, transactions). |
No information available | |
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Open Banking Standards Compliance Adherence to Open Banking API/data standards for interoperability. |
No information available |
Reporting and Presentation
(7 Yes /7 Known /10 Possible features)
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Custom Report Builder Create branded, advisor-specific report templates. |
Custom report builder available for advisors to create templated, branded, and client-specific reports. (Source: Reporting suite overview) | |
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Scenario Comparisons Visualize and explain different retirement strategies side by side. |
Supports visual scenario comparisons, with side-by-side strategy views. (Source: Scenario comparison feature used in demos) | |
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Export Formats Export reports in PDF, web, and Excel formats. |
Export formats include PDF, Excel, and digital (web). (Source: Export menu in UI) | |
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White-Labeling Offer branding options for advisory firms. |
White-labeling supported for firm branding in client-facing reports and portal. (Source: Advisor customization guidelines) | |
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Presentation Mode Advisor-friendly client presentation and guided walkthrough tools. |
Presentation mode with guided walkthrough available to support client/advisor meetings. (Source: Presentation tool section) | |
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Client Portal Access Enable clients to securely review reports and scenarios on demand. |
Clients can securely review reports and planning scenarios via client portal. (Source: Product website and client portal feature list) | |
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Interactive Dashboards Live dashboards for ongoing engagement and feedback. |
Interactive dashboards available for up-to-date retirement and planning progress. (Source: Dashboard tour video) | |
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Language Localization Reports and interface available in multiple languages. |
No information available | |
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Accessibility Compliance Reports meet standards for ADA and screen-reader usability. |
No information available | |
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Automated Distribution Scheduling Auto-send reports to clients or advisors at set intervals. |
No information available |
User and Advisor Experience
(7 Yes /7 Known /10 Possible features)
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Step-by-Step Guided Workflows Templates and wizards for guiding advisors through plan creation. |
Step-by-step templates and wizards guide advisors through plan creation. (Source: User onboarding and plan creation UI flow) | |
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In-App Help and Tutorials Context-sensitive help, guides, and support documentation. |
Tooltips, help menus, and in-product tutorials are available. (Source: Product UI help options and support materials) | |
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Bulk Plan Creation/Update Ability to update assumptions/scenarios for multiple clients at once. |
No information available | |
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Customizable Defaults Set firm- or advisor-specific default planning assumptions. |
Advisor can set default assumptions firm- or individual-level. (Source: Assumptions settings in plan builder) | |
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Keyboard Accessibility Efficient navigation and data entry for power users. |
No information available | |
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Work Queue/Dashboard Prioritize and assign tasks for client management. |
Work queue and dashboard for client/follow-up task management available to advisors. (Source: Productivity dashboard screenshots) | |
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Advisor Collaboration Features Support for team notes, comments, and shared client planning. |
Team collaboration: notes, comments, and shared planning supported. (Source: Multi-advisor features in documentation) | |
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Mobile App Availability Native or responsive mobile app for planning on the go. |
Mobile-responsive web app; no dedicated native app but full mobile browser support. (Source: Product technical overview) | |
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Performance Speed Average time to run/report a complex scenario. |
No information available | |
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Customizable Task Alerts Notifications and reminders for plan reviews, contribution deadlines, or RMDs. |
Customizable alerts and reminders for advisor and clients (plan reviews, deadlines, RMDs). (Source: Task alert settings) |
Compliance and Security
(6 Yes /6 Known /10 Possible features)
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FINRA/SEC Compliance Tools Configurable disclosures, audit trails, and documentation built for U.S. regulation. |
Provides tools for SEC/FINRA-compliant disclosures, audit trails, and documentation. (Source: Compliance center in product menu) | |
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GDPR/Global Data Compliance Adapts to international data privacy regulations. |
No information available | |
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Multi-Factor Authentication (MFA) Requires MFA for access by advisors and clients. |
Multi-factor authentication can be required for access to accounts. (Source: Security settings in product docs) | |
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Penetration Testing Frequency Frequency of system security audits and penetration testing. |
No information available | |
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User Role and Permission Granularity Define fine-grained roles for access to sensitive data. |
User role granularity available for setting access and permissions. (Source: Advisor/admin management panel) | |
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Data Encryption Level Encryption standard used for all client data. |
Industry-standard encryption for sensitive client data. (Source: Security and compliance FAQ) | |
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Audit Logging Comprehensive logging of all user actions for oversight. |
Comprehensive user action and data change logging implemented for oversight. (Source: Audit log/export option) | |
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Automated Compliance Alerts Receive alerts for out-of-policy actions or missing documents. |
No information available | |
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Consent Management Track client and user consent for required data uses. |
No information available | |
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Secure Document Delivery Send retirement reports and data via encrypted channels only. |
Documents and reports delivered to clients via encrypted download/portal. (Source: Secure delivery workflow) |
Product Support and Updates
(5 Yes /5 Known /10 Possible features)
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Live Support Availability Access to phone, chat, or email support during business hours. |
Live support available during business hours by phone/email. (Source: Support/contact page) | |
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24/7 Emergency Support Round-the-clock support for critical issues. |
No information available | |
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Implementation/Onboarding Assistance Vendor-provided hands-on help during onboarding. |
Product offers onboarding and implementation support for new advisor teams. (Source: Advisor manual and sales material) | |
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Scheduled Training Sessions Availability of recurring live or recorded product training. |
Regularly scheduled and on-demand training sessions available for users. (Source: Training calendar listed on website) | |
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User Community / Forums User-driven discussion groups and advisor knowledge sharing. |
No information available | |
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Knowledge Base Depth Breadth of searchable documentation and FAQs. |
No information available | |
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Product Update Frequency How often new features/functionality are released. |
No information available | |
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Bug Fix Response Time Average time to fix critical system bugs. |
No information available | |
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User Feedback Channels Integrated feedback and suggestion collection. |
Users can provide feature feedback and suggestions directly in the application. (Source: Feedback tab in navigation bar) | |
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Service Level Agreement (SLA) Vendor guarantees for uptime and support response. |
Service Level Agreements describing uptime and critical support response are available for enterprise clients. (Source: Enterprise sales literature) |
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