OMYEN Corp. Announces The Cash Flow Based Financial Planning Technology OMYEN's Wealth PlannerTM now allows financial advisors to efficiently create advanced cash flow based financial plans and lifetime financials with unparalleled ease of use and efficiency.
WESTWOOD, Mass., Feb. 5, 2013 /PRNewswire-iReach/ -- Cash flow based financial planning is considered to be the "holy grail" of financial planning by personal financial advisors. A cash flow based financial plan essentially presents a comprehensive picture of a client's cash in-flow from different sources and cash out-flows for different needs over the expected lifespan of a client. This allows advisors to better plan for cash shortfalls and any surpluses. However, developing a cash flow based plan could be arduous as it involves accounting for changing income and expenses, growth and distribution of lifestyle and investment assets, and complex needs of clients. According to many financial advisors, existing cash flow based financial planning software offering this functionality involve too much data entry, too many screens to enter it, difficulty in reconciling results with inputs, bulky reports, steep learning curve, etc. As a result, many financial advisors find the cash flow based planning a time consuming and tedious exercise. OMYEN's recently launched "Cash Flow Planning" module addresses all these issues and is fully integrated with the Wealth PlannerTM.
The OMYEN Wealth PlannerTM already offered goals based advanced financial planning which is centered on major financial goals e.g. retirement, college education for children, investment planning, and risk management. The cash flow based planning module of the Wealth PlannerTM seamlessly integrates with the existing planning capabilities. It is designed in such a way that data entered in any module automatically flows through all the modules. Both goals based and cash flow based functionalities are designed to allow financial advisors the flexibility of creating financial plans based on client life stages efficiently. For younger "emerging" clients, advisors can quickly create a plan that is designed for savings discipline and debt payments. For more "engaged" clients, the comprehensive financial plan can be created in about an hour. For clients nearing retirement ("distribution phase"), OMYEN's Retiree Healthcare PlannerTM allows advisors to estimate client specific healthcare expenses during retirement. These expenses automatically flow into the Wealth PlannerTM for producing a sustainable retirement income plan.
"The Cash Flow Planning module of Wealth PlannerTM software has streamlined our holistic planning process and identifies numerous planning opportunities that other software miss." said Ray Shreder, CEO of The WealthCare Center, a financial advisory firm based in Henderson, NV. "Our goal is to keep pushing the envelope with respect to developing technologies for financial advisors to support their business, whether it is wealth management for individual clients or working with retirement plans, or both." said Dinesh Sharma, CFP®, and CEO of OMYEN Corp. "We want to be able to help them in their business growth and running the business efficiently by making our technologies available to them anywhere, anytime, and on most computing devices.", added Sharma.
Financial advisors who have been using the Wealth PlannerTM as well as those who will license it in future will get the "Cash Flow Planning" module at no additional cost. OMYEN's financial planning and Personal Financial Index® (PFI) based marketing technologies for wealth managers and workplace technologies for retirement plan advisors follow a simple and tiered pricing.
About OMYEN Corp.
Based in Westwood, MA, OMYEN, a recognized innovator of intuitive and affordable technologies, helps financial advisors effectively acquire their targeted clients and efficiently create actionable financial plans. OMYEN's unique products include the Wealth PlannerTM for client centric financial planning and featuring the industry's first retiree healthcare planning capability, the Personal Financial Index® for client education/acquisition, and the Retirement Savings Planner for advisors working with retirement plans. Corporations use OMYEN's intuitive financial education and communication platform to help their employees take charge of their finances. For more information about OMYEN Corp., visit www.omyen.com.
Media Contact: Keith Johnson OMYEN Corp., (781) 416-5281, Keith.Johnson@omyen.com
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SOURCE OMYEN Corp.