PlanPlus Global News & Events

Be informed by the latest news, insights and opinions on things that matter to the financial advice industry.

PlanPlus Global Media Coverage and Press Releases

Announcing the 2020 PlanPlus Global Canadian Financial Planning Awards Winners

July 22, 2020—PlanPlus Global, a Morningstar company, announced the winners of the 2020 Canadian Financial Planning Awards competition, which recognizes excellence in the financial planning profession. The competition was launched in 2013 to help increase awareness and understanding of the important role played by financial planners in Canada. The competition is open to advisors across…

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A Comparison of Risk Tolerance Products

“Bear markets beget portfolio losses, unhappy clients and, sadly, lawsuits against advisors. If you relied on any of the popular risk tolerance products to construct that portfolio, here’s how you are likely to fare under the careful scrutiny of an arbitrator.” -Bob Veres Discover how FinaMetrica and the SuitabilityPro features built around it scored a…

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PlanPlus Global Joins Morningstar

On April 3, 2020, Morningstar, Inc. completed its acquisition of PlanPlus Global, combining PlanPlus Global’s financial planning tools with Morningstar’s mission to empower investor success through the advisor ecosystem. Morningstar’s research-driven culture, trusted brand, and investment planning capabilities combined with PlanPlus Global’s financial planning and risk tolerance profiling tools, will help advisors better manage their…

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‘We all believe in and follow the same process and proposition’

How advisers invest: Belmayne Independent Chartered Financial Planners partner Jon Stevens discusses the company’s approach to investment management. Could you explain your approach to investment management: in-house, outsourced or a combination of both? We outsource our investment management. A few years ago, I spent a lot of time picking the brains of various advisers I…

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PlanPlus Global Blog

Morningstar’s Annual Investment Conference: We’ve Gone Digital

Morningstar’s annual Investment Conference will take place as a digital event beginning Sept. 16–17, 2020. The event will be an immersive online experience that features all the key benefits you love about our flagship industry conference, bringing together industry leaders and investing experts to discuss the latest developments and share new perspectives on the market.

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FinaMetrica Risk Tolerance Score Mappings

Gain the tools you need to help guide your clients and facilitate the investment strategy selection process for Morningstar® Managed PortfoliosTM by matching clients’ risk tolerance score to a fund. In doing so, you’ll be able to make an equal comparison between risk tolerance and investment risk. The FinaMetrica three factor risk profiling methodology is a six step process:

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Meeting Client Expectations in Uncertain Times

It’s industry consensus that the landscape of financial advice is evolving—specifically, the role of the advisor in the eyes of the investor.

In order to drill into what these changes are, and how advisors should prepare in response to them, we interviewed members of Morningstar’s Advisory Board—a group of financial professionals who help set the future product direction for the financial advisory segment by representing the voice of our clients, their peers, and industry leaders. Largely, they agreed that investor expectations for financial professionals have increased in intensity.

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Goals-Based Financial Planning: How Simple Lists Can Overcome Cognitive Blind Spots

At Morningstar behavioral finance isn’t just a buzz word, it’s baked into our software to help empower investor success. Our dedicated behavioral science team leverages research and psychology to improve the user experience of our software and deliver better outcomes for its users.

In fact, Ryan Murphy, Samantha Lamas, and Ray Sin just won the 2020 Montgomery-Warschauer Award for their paper “Goals-Based Financial Planning: How Simple Lists Can Overcome Cognitive Blind Spots,” the highest honor awarded by the Journal of Financial Planning. The research found that asking people to self-report their investing goals is insufficient, with about 26 percent changing their top goal when prompted with a menu of other goals, and 73 percent changed one or more of their top three! These insights in the hands of advisors help prepare them to have more productive financial planning conversations with clients.

Steve Wendel, head of behavioral science for Morningstar, shares key highlights on Goals-Based Financial Planning: How Simple Lists Can Overcome Cognitive Blind Spots:

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Advocacy Profile – Kristina Bates (FinaMetrica Profiler)

Professional Accountant and Institutional Sales Head transitions to Investment Advisor and Portfolio Manager to help individual investors protect and grow their wealth. “My business and financial background has allowed me to offer a key differentiator to my clients – I engage with them at a deeper, more personal level and research and analyze their portfolios…

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PlanPlus Global Articles and Whitepapers

Risk Tolerance Stability During Uncertain Times

Nicki Potts, Director of Product Management at Morningstar (former COO & SVP, Product Development at FinaMetrica Pty Ltd), shares historical data that shows FinaMetrica risk scores across the globe remain relatively stable through stock market volatility. This research demonstrates that Advisors who perform a valid risk tolerance profile for their clients are more likely to see their clients stay the course during severe market downturns. -Mike Barad, Head of Financial Planning Software, Morningstar, Inc.

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Sequence Risk – Understanding the Luck Factor

While a distribution portfolio’s exposure to sequence risk changes over time, sequence risk never really goes away unless the withdrawal rate is constrained considerably.A practical method for advisers to meas­ure this exposure to sequence risk is through evaluation of the current proba­bility of failure rate.The fundamental withdrawal rate for­mula is portfolio value ($X) times a withdrawal rate (WR%) to equal the annual distribution amount ($Y).

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Income Replacement Vs. Expense Approach to Insurance-Needs Analysis

Financial advisors commonly use three methodologies to determine client life insurance needs: income replacement, expense analysis, or hybrid models. Expense analysis is generally recognized as the more robust methodology, but requires greater discovery and data to perform. This paper compares these techniques to determine to what extent the simpler approaches identify greater or lesser insurance “needs” and to determine whether the differences are significant.

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Financial Planning Literature Survey

The FPSC Foundation has engaged PlanPlus to carry out an environmental scan of research carried out between 2003 and 2011, from Australia, Canada, United Kingdom and the United States, in the field of financial planning. Article by Fagan, Brayman will be published in the Journal of Personal Financial Counselling, Summer 2011.

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PlanPlus Global Events

Announcing the 2020 PlanPlus Global Canadian Financial Planning Awards Winners

July 22, 2020—PlanPlus Global, a Morningstar company, announced the winners of the 2020 Canadian Financial Planning Awards competition, which recognizes excellence in the financial planning profession. The competition was launched in 2013 to help increase awareness and understanding of the important role played by financial planners in Canada. The competition is open to advisors across…

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February 2020 Events

Jan 30 to 31 Mar – MFPYA 2020 – MY The Malaysian Financial Planner of the Year Award (MFPYA) competition is open for registration and submissions until March 31. For more information on the 2020 MFPYA competition go to www.planplusawards.com/mfpya. Register here. Jan 30 to 31 Mar – Canada Financial Planning Awards 2020 – CA…

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November 2019 Events

Nov 19 – FP Canada Gala Dinner – Toronto, Ontario, CA Nov 20 – FP Canada Symposium – Toronto, Ontario, CA Nov 21 – OSC Dialogue – Toronto, Ontario, CA Nov 25 – Financial Planning Academic Forum (FPAF) – Melbourne, Victoria, AU Nov 26 – Personal Finance and Investment Symposium (PFIS) – Melbourne, Victoria, AU…

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Risk Profiling & Investment Proposal

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