Money Tree's Financial Planning Software Blog


Redtail Connections:   Silver Online Integration


by Alexander Long

Redtail is integrated into Silver Online. Advisors get client planning details directly from their Redtail data. Create entirely new planning clients from Redtail, or updates existing client plans. 


Retirement Plan Required Minimum Distributions (RMDs)


by Mark Snodgrass

Advisors often call in with questions about how to recognize RMD's in their financial planning software. Each program calculates RMD's, with their own ways of displaying. 

In the article provided, Money Tree Software president Mark Snodgrass goes over the various RMD rules for a variety of retirement plan types and where to go in each program to see those distributions. 


 

Retirement Plan Required Minimum Distributions (RMDs)

By Mark Snodgrass


Silver Online - Client Access Walk-Through


by Alexander Long

The Client Access Portal in Silver Online gets updated frequently. This post was originally written June 28, 2018. It has been updated to cover information for the current Client Access Portal as of August 1, 2018. 

This article will go over the various sections in Silver Online pertaining to the Client Access Portal, which clients will see as the Secure Wealth Review when logging in.


Best Practices - Mortgage Payments in Silver


by Alexander Long

The question of how to handle mortgage payments in Silver comes up fairly often so this post is being updated to properly reflect the program as of July of 2018.  Handling mortgage payments incorrectly can lead to unintended consequences for a client's financial plan.  Find out what those consequences are and how to avoid them by following our tips to handle mortgages correctly in the post below. 
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Silver Online - Client Access Alerts


by Alexander Long

With our most recent update to Silver you probably noticed the bell icon labeled "Alerts" in the top right. This is part of our continued improvements to the client access side of Silver Online. With this new feature, advisors can better track when clients login to a provided Client Access Portal or if they've made a number of certain changes to their plan. Starting off, the alerts are limited to tracking whether or not someone logs into their Client Access Portal, and if they've made any changes to their total investments. For more information on Silver's Client Access click here.


Silver Online - Helping Clients Use the What-If? Screen


by Mark Snodgrass

Advisors using Silver Online may choose to allow clients access to the What-If? system within the client portal. This powerful tool allows clients to make certain changes to their planning assumptions and quickly see the effects on their retirement capital projection.


Top 5 Things to Know about Taxes in Silver


by Carolyn Rothwell

Silver's tax method holds true to its focus on simplicity. Silver accounts for the expense of taxes by charging every dollar of taxable income for taxes using the provided tax rate. Planners are asked to provide the effective tax rate to use for the projection. The tax rate can set for pre- and post-retirement periods. Learn about the tax method, ways to calculate the clients's tax rate, and how the tax rate is applied to income sources and assets below.   


Tax Cuts and Jobs Act & Financial Planning Software Updates


by Carolyn Rothwell

The Tax Cuts and Jobs Act (TCJA) was signed into law December 22nd. Tax law changes take effect January 1, 2018. A majority of the tax law changes applying to individuals are not permanent and are scheduled to sunset after 2025, reverting to the law in effect prior to the TCJA. The major changes to individual tax planning stemming from the new tax legislation are included below. Details of the tax laws can be found by reading the final bill and the Joint Explanatory Statement of the Committee of Conference.

The new legislation requires significant changes to the tax calculations in Money Tree's financial planning software, impacting the timeline for the 2018 tax update. The tax changes are the top priority for the software and development is underway.


Silver's Retirement Capital Analysis Spending Needs


by Carolyn Rothwell

The Spending Needs amount on Silver's Retirement Capital Analysis is straightforward for single clients or when both individuals retire in the same year, but it is not as clear for couples when one individual retires and the second continues to work.

Silver begins the expenses upon the first retirement.  For couples, when an individual continues to work after the other is retired, the expense amount is reduced on the Retirement Capital Analysis by the net effect of his or her earned income. 



Client Access and Report Enhancements in Silver - Available Now


by Carolyn Rothwell

Client access and reports updates are available in the latest release of Silver. 

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