Using the Plan Wizard

inStream’s newest innovation is our Plan Wizard. This Plan Wizard presents our plan creation in a totally new user interface that we believe creates an easier and more accessible process to create your clients’ plans. The Plan Wizard has been implemented with both our Goals Based and  Safe Savings Rate Plans. In this support article I will use the Goals Based wizard, but the wizard works the same way for both plan types.

To begin, go to the Plans section and click the Create New Plan button. 

Step 1 – Name Plan

In this step, you must do two things: choose the name of your plan and choose which type of plan you would like to create.  Naming the plan is pretty straightforward. With Plan Type, you have the choice of either Goals Based or Safe Savings Rate.  Additionally, you can also press the Skip Wizard Button at the bottom left if you wish to skip the Plan Wizard altogether.  Lastly, you must click the Next button to head on to Step 2.


Step 2 – Goals, Distribution

For a Goals Based Plan, you have the opportunity to either Add an Existing Goal or Add a New Goal.  To Add an Existing Goal, simply click one of the shown Goals in the box at the upper left part of the Plan Wizard, as shown in the image below.  Once you have clicked on one of the goals, or the Add All Goals button, the goal will appear on the right part of the Plan Wizard.Using_the_Goals_Based_Plan_Wizard__Image_3.jpg

Now we will Add a New Goal (also known as a scenario goal) by clicking one of the four goal options shown at the bottom left of the Plan Wizard.  In this case, I will add a Legacy Goal. Next, you must simply fill out all the information that you want in your new goal, and then click next to move onto the Accounts section.Using_the_Goals_Based_Plan_Wizard__Image_4.jpg

Step 3 – Accounts

Similar to Step 2, in the Accounts section we have the option of either adding an existing account or adding a scenario account specific to this plan. For this example, I will add an account from the profile and add a new scenario account. Using_the_Goals_Based_Plan_Wizard__Image_6.jpg

Step 4 – Allocation

In the Allocation section, you are initially given the Default Allocation that you have set in your Settings.  In this section, you can edit your initial allocation period and add additional allocation periods if you so choose.  Additionally, you can also use a Glide Path if you have one setup in your settings.  Once you are done adding and editing your allocation periods, simply click Next to move on to the next section. Using_the_Goals_Based_Plan_Wizard__Image_7.jpg

Step 5 – Income

In Step 5, similarly to Accounts and Goals, you can Add Existing Incomes or Add a New Income that pertains to the plan.    I will do one of each in this section.  Once you are done filling out all of the pertinent information, click Next to move on to the next section.  Please note, we don’t recommend adding Payroll Income to goal-based plans. Generally, day to day expenses during the accumulation phase should not be included in plans, and Payroll Income is typically used to meet those needs. 





Step 6 – Taxes

In Step 6, you can edit your tax periods for both Income Taxes and Capital Gains Taxes. You can also add additional tax periods. Using_the_Goals_Based_Plan_Wizard__Image_9.jpg

Step 7 – Inflation

This step only exists in the Safe Savings Rate Plan Wizard.  Simply edit the Default Inflation Rate, or add New Inflation periods to curb the plan to fit your needs.

Step 8 – Rules

This step also only exists in the Safe Savings Rate Plan Wizard.  Simply edit the rules as you see necessary.  If you want more information on these rules, simply click the Learn More button.Using_the_Goals_Based_Plan_Wizard__Image_10.jpg

Final Step – Tracking

In this step, set the Review Reminder and Priority to track the plan. Also, fill in the Threshold Range and click Save.Using_the_Goals_Based_Plan_Wizard__Image_11.jpg

Lastly, click Finish to complete the Plan Wizard.Using_the_Goals_Based_Plan_Wizard__Image_12.jpg

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