Transcript:
Overview Plan Difference and Promotion Feature in Voyant
In this video, I'm going to demonstrate the Overview Plan Difference and the Promotion Feature within it.
Accessing the Client Plan
I’m currently in the plan for Peter, looking at his base plan and reviewing the cash flow detailed charts. We can also look at the Let's See option and the dual chart view. Here, we can see that Peter has plenty of assets at the end of his plan.
Creating a What-If Plan
I’ve created a what-if plan titled Can I Spend More in Retirement. In this plan, I've added two goals for him: a retirement goal to spend money on holidays and another goal for buying a new car.
These two new items can be viewed through the overview and plan differences features as well.
Comparing Plans
You can see how this feature works by comparing the Can I Spend More in Retirement what-if plan to the base plan. The overview clearly shows the items that I've added.
Promoting Items to the Base Plan
Now, I want to explain how you can promote items from a what-if plan into the base plan. You have the option to select either one or both of the new goals for promotion. In this case, I’ll promote both.
Verifying Changes
Once the items are promoted, there will be no difference between the two plans initially. If I go back to the Let's See section and compare plans in the chart view, you’ll see that both plans look the same.
The Overview Plan Differences and the promotion feature allow you to compare the differences between the what-if plan and the base plan and then promote these items from the what-if into the base plan.
Logic of Promotions
As per the usual logic regarding base plans and what-ifs, promoting an item to the base plan means that this promoted item will filter through to all what-if plans created from that base plan.
This feature is excellent because it enables you to show clients the possibilities of spending more money or achieving their goals. If they like those possibilities, you can promote the desired ones into the base plan.
Conclusion
Thank you for watching!