Canadian Wealth Management Guide

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Creating a financial plan involves making assumptions on things such as rates of return, asset allocation models, and the type of income generated on investments. FP Solutions has certain assumptions built into a default file that is loaded each time you start a new financial plan. This tutorial will demonstrate how you can build your own default file with your own assumptions so that you can use it for any client file that you create.

FP Solutions - Fact Finder (Recorded Session)

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A recording of the Fact Finder training session that takes a detailed look at the FP Solutions Fact Finder covering the following topics:

Navigating the fact finder
Entering data directly onto the fact finder
Creating a financial snapshot
Saving the fact finder
Opening a fact finder file in FP Solutions
Printing the fact finder

FP Solutions - Basic (Recorded Session)

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This recording of the FP Solutions - Basic online training session covers entering data into the non-registered investments, registered investments, pension plans, real estate and retirement capital needs areas. This demonstration also shows how FP Solutions Basic helps determine how much a client must save in order to attain their goals.

FP Solutions Plus (Recorded Session)

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This file is a recording of the FP Solutions Plus training session which focuses on the insurance modules of the software and covers the following:

Survivor capital needs - expenses at the death of either the client or spouse
Estate capital needs - expenses of the couple on second death
Life insurance values - illustrate either the current insurance in place or a recommended policy.

FP Solutions Advanced (Recorded Session)

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This recording of the FP Solution Advanced training session introduces the detailed projection modules of FP Solutions and covers the following topics:

Projected income - detailed income and tax calculations
Projected cash flow - combined income and lifestyle needs projections
Projected net worth - projections of assets, liabilities and deferred taxes
Using the optimize feature of the projected cash flow module

FP Solutions Business (Recorded Session)

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In this recording of the Business training session we focus on how to enter business assets, integrate that information into the personal financial plan and possible options available to the business owners. The following topics are covered:

Data entry of business information
Understanding the integration of business and personal data
Making payments from the business to shareholders
Creating a retirement income from a business: by liquidating the assets or by selling the business at retirement.

FP Solutions - FP Focus (Recorded Session)

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A recording of the FP Focus training session that is an introduction to the FP Focus feature and covers the following topics:

Loading / Launching FP Focus
Navigation of FP Focus pages
Description of each of the FP Focus pages
Changing the documentation on the fly
Printing FP Focus pages

FP Solutions - Non-Registered Investment (Recorded Session)

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The recording of the Non-registered investment training session demonstrates how to use the non-registered module in FP Solutions and covers the following topics:

Entering data using the data entry wizard
Detailed explanation of data entry screen
Using the edit variables page
Solving for deposits or withdrawals
Tracking the non-registered data in other modules
Using the Investment Strategies Concept

FP Solutions - Investment Detail / Risk Tolerance (Recorded Session)

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This recording of the Investment Details and Risk Tolerance training session covers the following areas:

Filling out the risk tolerance questionnaire
Setting up the model portfolios
Importing mutual fund data
Entering the investment details of a client
Integrating the investment details into the financial plan

FP Solutions - Simulation Tool (Recorded Session)

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This recorded training session focuses on the Simulation Tool provided in FP Solutions and covers the following areas:

Launching the Simulation Tool
Performing a variance test
Running a Monte Carlo simulation
Interpreting and sorting the results

Canadian Wealth Management Guide - Demo

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FP Solutions - Basic Navigation

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FP Solutions is a modular based software that allows you choose how simple or complex you want to create a financial plan. This tutorial will walk you through basic navigation in FP Solutions and will outline how to enter data through the data entry and variables pages of a module.

FP Solutions - Custom Document Creation

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FP Solutions’ standard documents are typically either in a summary format, which display charts and graphs, or in a ledger format, which display more detailed numerical values. When presenting a financial plan to a client, you can use these standard documents or you can use more customized documents that you create and save as templates in the software. This tutorial will walk you through the custom document feature in the program and outline how you can create your own custom templates that you can use for every client file that you build in FP Solutions.

FP Solutions - Optimize Tool

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The Projected Cash Flow module in the Advanced and Business level of FP Solutions allows you to determine in detail whether or not your clients are able to meet their lifestyle goal throughout the planning period. Rather than make manual deposits of excess cash flows, and manual withdrawals to cover cash flow deficiencies, the Optimize tool allows you to tell the software what you want it to do to automate the process of trying to solve to the clients’ lifestyle. This tutorial will demonstrate how to use the Optimize calculator by creating a couple of scenarios that will attempt to make the most efficient use of the clients’ cash flow to help them meet their lifestyle goal.