New Feature: Penny

• Upload and analyze 1040s.

• Summarize client tax situations and surface observations instantly.

• Explore marginal rates and Roth conversions interactively.

• Compare detailed strategies and see tax impacts to take long-term plans into today's actions.

But it's not just tax! Learn More ↗

New Tech Preview: AI Plan Updater

• Upload documents and automatically update client plans, maintain compliance, and replace key data. Learn More ↗

Distribution Method:

• The ability to combine a stretch distribution with a lump sum. For certain kinds of beneficiaries of inherited IRAs and retirement accounts, in certain situations, this is the required distribution approach.

Insights Dashboard:

• Generate a one-page deliverable directly from the Insights Dashboard

Cash Flow:

• View Cash Flow projections in a new annual format

Liability Inputs:

• Add extra monthly principal payments to liabilities

  
  Learn More ↗

Advanced Plan Settings - Plan Analysis:

• Ever wanted to set the overall return assumptions for a plan without messing with assumptions for each asset class? Now you can! Learn More ↗

Quick Create:

• The Quick Create feature has been enhanced to offer a more complete and customizable planning experience. Learn More

Liabilities:

• Plans now include Student Loans as an additional liability option, allowing for more accurate and comprehensive financial planning.

Investment Strategy Module within Decision Lab:

• Explore how different asset allocations can affect portfolio performance and available retirement spending. View Tutorial

  • Update: All model allocations available for each asset will now be displayed as selectable options.

AI Plan Builder:

• You can now upload multiple files at once—there’s no limit!

• Additional file types are now supported, including PDF, XLSX, CSV, TXT, and DOCX

• The AI Plan Builder now identifies Expenses, Savings, and Insurance within uploaded documents. You can review these findings before generating a plan.'

New Tech Previews: AI Plan Builder and AI Interviewer

• AI Plan Builder - The fastest way to turn notes, documents, and meeting transcripts into plans, with no data entry. View Tutorial

• AI Interviewer - Not a form to fill out, but a frictionless, secure, focused AI conversation that empowers clients and prospects to share what matters most. View Tutorial

New Support Resources:

• AI Assistant - it’s in-app expertise that’s always on and always ready to help. View Tutorial

• Live Support - In-app support from our team.

Preretirement Module within Decision Lab:

• How much should I save? When should I retire? This new and powerful tool helps you explore these core questions for retirees with ease. View Tutorial

• Income Lab will automatically calculate the Social Security Retirement Earnings Test and adjust projected benefits based on earned income before Full Retirement Age (FRA). Learn More

• Advisors can now have a default 'Income Path' (Age-Based, Flat) for any new household plans they create. Learn More

• Along with actuarially based plan lengths, plans can now have completely customized longevity assumptions for both clients in a joint plan and for the client in a single plan. Learn More

• Advisors can now fine-tune which expenses are funded from the portfolio in the "pre-retirement" period before the income plan begins. Learn More

• Users can now include a plan for Social Security benefits to be cut in the future. This will help advisors evaluate how to 'self-insure' for benefit cuts. Learn More

• New Feature - You can now “promote” a plan to be the Primary Plan of a household.

• Final updates to Annuity options.

• The New Year is Here! Income Lab is now fully updated with 2025 Federal tax numbers. That means ordinary and long-term capital gains tax, Medicare IRMAA, deductions, QCDs, Social Security, and much more are all up to date with a new year's value.

• Along with these changes, you'll see the following small adjustments:

  • Pre-retirement portfolio and annuity withdrawals will now be treated as spent, not automatically reinvested. (Exceptions are inherited accounts and non-qualified deferred comp.)

  • For the 'How can I spend $X...?' plans, Tax Lab will now give the 'green star' to the strategy with the highest net legacy (but not necessarily the lowest total taxes).

• New and powerful annuity modeling options!

  • Model a "growth annuity" or any annuity distribution strategy from a VA or FIA without having to use a living benefit.

  • Model Roth conversions within an annuity, including the option to withhold taxes from the conversion(s).

• New integrations!

  • We have a new and improved integration to Charles Schwab that offers full household import capabilities, access to real-time data, and 'instant' integration set-up. This integration will replace our older Charles Schwab integration (through BridgeFT) in early 2025.

  • And we've added an integration with fpPathfinder to give you easy access to relevant fpPathfinder guides from anywhere in Income Lab.

• Dark Mode is Here!

  • Go to My Account > Display Settings > Themes and let us know what you think about this new option (in beta).

  • New to Tax Lab: Sort the strategies table by anything you like (tax rate, total net income, total taxes, net legacy).

  • You will now see average return stats for annuities, just like for non-annuity investment accounts.

  • Various bug fixes.

• Reordering of Plan Scenarios. Plan scenarios can be reordered via drag-and-drop on the Plan Scenarios page (look out for future updates expanding on this ability!)

• New Icon: There is now a small “D” icon in LifeHub and while editing in the Plan Dashboard to indicate what accounts have distribution settings applied.

• Updates made to Annuities to create a more streamlined experience while building a plan.