Financial Profiles Releases Profiles+ Professional 7.0.Business Editors/High-Tech Writers SAN DIEGO--(BUSINESS WIRE)--Sept. 23, 2003 Major Version Release Features New Stock Option Analysis Tools and Monte Carlo Simulation Monte Carlo Simulation A problem solving technique used to approximate the probability of certain outcomes by running multiple trial runs, called simulations, using random variables. , Enhanced Cash Flow Projection A Cash Flow Projection is an attempt to forecast the cash flows that will be generated by an asset, often a company, over a specified time frame. Methodology Projections can be made with varying levels of detail, but any cash flow projection for a business entails , Additional College Savings Plans and 2003 Statistical and Tax Data Financial Profiles Inc., a leading international provider of financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against solutions, today announced the immediate availability of Profiles+(TM) Professional 7.0, a new version release of its flagship financial planning software. Profiles+ Professional is an integrated financial planning software solution that allows financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. professionals to graphically illustrate the monetary resources needed to reach financial goals based on individual client needs. Designed to assist users in outlining a client's needs for long-range financial planning, Profiles+ Professional features more than 150 sales concepts, as well as graphics, images, text pages and audit trails. Profiles+ Professional 7.0 features an enhanced Tax Sensitive option for projecting future cash flows, new functionality for entering and analyzing stock option data, updated college savings plans, an optional Monte Carlo Simulation and updated statistical and tax data. In addition, Profiles+ Professional's reporting capabilities have been updated with the latest statistics and sources, including the most recent Ibbotson Asset Allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. database. Offering enhanced flexibility, Profiles+ Professional's new Manual Asset Classification feature enables advisors to manually allocate and classify clas·si·fy tr.v. clas·si·fied, clas·si·fy·ing, clas·si·fies 1. To arrange or organize according to class or category. 2. To designate (a document, for example) as confidential, secret, or top secret. client assets rather than relying solely on the auto classification method, which uses Ibbotson data. Leveraging partnerships with leading financial services organizations, the new version of Profiles+ Professional also features a link to the Fixed Income Securities Web site for researching, evaluating and purchasing a variety of bonds and includes optional integration of Forefield content, providing access to its extensive library of planning topics. Another optional feature, U.S. Spanish, has been enhanced to include translations of all new content added into Professional 7.0. Michele Williams, a Chartered Life Underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. (CLU (language) CLU - (CLUster) An object-oriented programming language developed at MIT by Liskov et al in 1974-1975. CLU is an object-oriented language of the Pascal family designed to support data abstraction, similar to Alphard. ) for The MONY MONY Mutual of New York (Insurance - Syracuse, NY) Group, uses Profiles+ Professional as part of her standard operating procedure standard operating procedure Medtalk A technique, method or therapy performed 'by the book,' using a standard protocol meeting internally or externally defined criteria; a formal, written procedure that describes how specific lab operations are to be performed. when working with clients. A user of Financial Profiles' financial planning software since 1989, Williams uses Profiles+ Professional to create effective financial plans that are suitable for each of her clients. "Having built my career using Profiles+ Professional, I am very excited about this new version, as every enhancement with each past release has enabled me to better serve my clients," said Williams. "Profiles+ Professional provides me with a systematic way to gain insight into a prospect's expectations, desires, values, goals and experience. Thanks to Profiles+ Professional, my clients are very impressed with the detail and thoroughness that the plans provide." James E. McClafferty, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Financial Profiles, comments: "The new and enhanced features included in Profiles+ Professional 7.0 have been strategically designed to meet the varying needs of new and existing customers. The widespread adoption of Profiles+ Professional among financial advisors is a direct result of our commitment to developing innovative features that are effective, comprehensive and easy to use." Profiles+ Professional 7.0 New and Enhanced Features Summary -- Cash Flow Enhancements (Enhancement): This feature provides increased flexibility when projecting tax sensitive future cash flows. Income and Expense have been redesigned to allow users to enter individual start and stop dates for each item to be considered in a financial projection. -- Stock Options (New): This feature allows advisors to include non-qualified stock options Non-qualified stock options are stock options which do not qualify for the special treatment accorded to incentive stock options. Incentive stock options are only available for employees and other restrictions apply for them. when analyzing a client's financial plan, providing a more accurate assessment of existing assets. -- College Savings Plans Upgrade (Enhancement): This upgrade integrates new asset types for 529, Coverdell, UTMA See Uniform Transfers to Minors Act. and UGMA See Uniform Gifts to Minors Act. UGMA See Uniform Gifts to Minors Act (UGMA). accounts into the cash flow calculation, allowing for greater flexibility when projecting education needs and funding. -- Manual Asset Classification (New): This feature allows users to manually enter different asset allocation class percentages for a selected asset, giving the users greater control over how their clients' assets are allocated. -- Fixed Income Securities Link (New): This feature provides users with an integrated link to the Fixed Income Securities' Web site where they can research, evaluate and purchase a variety of bonds. -- Monte Carlo Simulation (New): This optional feature utilizes the Ibbotson Associates Wealth Forecasting Engine to demonstrate the probability of success when projecting a client's goals, accounting for various risk factors not considered under linear methods. -- Forefield Content Integration (New): This optional feature enables advisors to automatically integrate Forefield content into prepared reports, as well as access Forefield Inc.'s FMA FMA Full Metal Alchemist (gaming) FMA Federal Marriage Amendment FMA Financial Market Authority (Austrian: Österreichische Finanzmarktaufsicht) FMA Financial Management Association Advisor Web site to research its entire library of financial services content. -- U.S./Spanish (Enhancement): This optional feature, which allows users to print reports translated from English to Spanish, has been enhanced to include updated Spanish translations for all effected output pages. About Profiles+ Professional Profiles+ Professional allows users to graphically illustrate the monetary resources needed to reach education savings or retirement goals or to plan for business growth, based on individual client needs. This, paired with the product's visual appeal and strong presentation elements, gives planners the tools they need to open, explain and close their sales. Profiles+ Professional provides users with more than 150 sales concepts, as well as graphics, images, text pages, and audit trails designed to assist users in outlining for clients the need for long-range financial planning. More information about Profiles+ Professional can be found at: http://www.profiles.com/products/profiles_plus. About Financial Profiles, Inc. Financial Profiles offers the financial services industry comprehensive financial planning software, and consulting, training and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services . The company began in 1969 as a service bureau offering needs analysis reports for insurance and financial services representatives worldwide, and today works with many nationally recognized financial services organizations. Financial Profiles is a subsidiary of Allmerica Financial Corporation, a holding company for a diversified diversified (di·verˑ·s group of insurance and financial service companies. More information about this or other Financial Profiles products and services can be found at the company's Web site at www.profiles.com or by calling the sales department at 800-237-6335. |
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