Timeline has added a cashflow tool with market scenarios and goal visualisation to its financial planning software.
The firm said the expanded toolkit, which includes built-in graphs visualising cash flows and capital market scenarios, is designed to help advisers drive down the amount they pay for technology each year.
At its core, Timeline’s digital service develops asset class and longevity data into a visual withdrawal strategy for clients and tracks real-time portfolio balances, withdrawals and asset allocation.
For clients, the latest addition to Timeline’s toolkit means advisers can assess how their clients’ goals, retirement incomes and expenditures stack up under various market conditions.
“This is a departure from traditional cashflow,” the tech firm said in an announcement published today (September 13).
Instead of working on single return and inflation inputs, which require advisers to manually change inputs each time or come up with hypothetical market crashes, Timeline’s cashflow tool is designed to automatically test “thousands” of market scenarios.
Using a client’s data, advisers can visualise how they might pay for their specific financial goals, taking into consideration the effect of taxes and inflation.
This works by analysing each goal and its impact on the client’s wider financials in isolation.
“We are listening to advisers, who are telling us loud and clear that they want tech that’s fully integrated and supports all the core services they provide,” said Ed Carey, Timeline’s chief commercial officer.
“We’re taking huge strides ahead with the addition of cashflow, back-of-the-envelope plans and ‘what if’ scenario modelling to Timeline.”
Alongside its new cashflow tool, the tech firm also recently added a fact find feature, which repopulates a client’s cashflow into a draft plan, weighing up risk profiles.
“The upshot of this is that Timeline users would no longer have to pay for multiple tools that don’t talk to each other, eliminating the need for re-keying, the root cause of inefficiency,” the firm said.
As well as offering its tech direct to advisers, Timeline also partners with third-party wealth managers to reach clients.
In February, Succession announced it was using Timeline's technology to personalise retirement plans for its 16,000 clients.
ruby.hinchliffe@ft.com
