Snap Projections Paraplanning Service

We're always looking for new ways to make our offering more valuable to our subscribers. That's why we've launched a Paraplanning Service that creates financial plans for you.

In this article:

  1. Scope of the Paraplanning Service
  2. Common use cases for the service
  3. Pricing and subscription format
  4. FAQs
1

Scope of the Paraplanning Service

The Paraplanning Service provides access to two offerings:

1. Creation of a Full Financial Plan, which includes:
  • Data entry from a completed discovery document (e.g., our Financial Planning Questionnaire).
  • Financial planning to help answer your client's questions (e.g., goal coverage and optimization, creation of up to 3 scenarios).
  • A call with you and the paraplanner to review the plan and discuss client outcomes, assumptions, insights, and recommendations.
2. A Plan Review, which includes:
  • A call with you and the paraplanner to review an existing plan that you created in Snap Projections to discuss client outcomes, assumptions, insights, and recommendations.
  • The background for the client’s situation can be provided by you in writing ahead of time or verbally during the one-hour review call.
  • A completed checklist provided to you summarizing the areas reviewed and key takeaways from the call.
2

Common use cases for the service

After a six-month pilot and discussions with users and prospects, the primary use cases for this service include:

Planners and advisors who are already creating financial plans for their clients and who would like to:

  • Create time savings or access additional capacity so they can:
    • Spend more time engaging directly with their clients.
    • Focus on the growth of other areas of their business.
    • Specialize in other areas of their business without a need for software expertise.
    • Reduce their work hours and/or create a more flexible schedule.
  • Improve the efficiency and quality of their financial planning process through:
    • Collaboration and professional development.
    • Receiving validation and a second opinion on their planning process and ideas.
    • Exposure to new planning ideas from the paraplanner.
    • Learning about more impactful ways to present the plan.
    • Creating a predictable and repeatable system.

Advisors who are not yet creating financial plans for their clients and who would like to:

  • Start doing financial planning for their clients to generate more value, drive better outcomes and help them gain peace of mind while increasing client satisfaction and improving retention.
  • Discover opportunities to grow their business through increased engagement and high-quality discussions with prospects.
  • Accelerate their learning curve with the financial planning software.
3

Pricing and subscription format

The Paraplanning Service is available through a monthly subscription.

1. Creation of a Full Financial Plan is available at two price points:

  • $499 for standard plans. This includes single individuals and joint couples with any combination of common incomes, capital assets, real assets, debts, etc.
  • $998 for complex plans. This includes clients with corporations requiring analysis or optimizations (e.g., accumulation or decumulation strategy), multiple rental properties, or less common registered assets.
  • After receiving a summary of the plan, our paraplanner will confirm the plan category before beginning.

2. A Plan Review has the following price point:

  • $250 for a one-hour plan review and a completed summary checklist.

Since value from the Paraplanning Service increases over time as we learn your style, assumptions, and preferences, our goal is to create an ongoing relationship through this subscription service. The subscription is structured in the following way:

  • The cost of the service is $499 per month. The subscription will be billed separately from your Snap Projections software subscription and can be cancelled at any time.
  • Each month you'll earn 3 credits, which you can redeem at any time for one of the services outlined in the Scope section above.
    • 3 credits for a standard Full Financial Plan created by us and reviewed with you. 
    • 6 credits for a complex Full Financial Plan created by us and reviewed with you. 
    • 1.5 credits for a Plan Review of an existing financial plan created by you.
  • You may purchase additional credits at any time at a rate of $499 for 3 credits.
  • Credits are non-refundable but do not expire, and, if not used for the Paraplanning Service, can be redeemed towards future Snap Projections software subscription licensing fees at full face value.

While we've found the most success working with clients through this service on a recurring basis, we want to provide as much flexibility as possible for our clients. As a result, you can purchase any of the above services on a one-off basis at the following rates:

  • $750 for a standard plan created for you
  • $1500 for a complex plan created for you
  • $375 for a one-hour plan review and completed summary checklist
4

FAQs

What is your turnaround time for a Full Financial Plan?

  • If all information is provided up-front, or in a timely manner once requested (e.g., within 2 days), we target a 2 week turnaround time for the Full Financial Plan offering.

How are revisions handled if the client wants to see something else once the plan is complete?

  • The Full Financial Plan is complete once the plan is reviewed with you and transferred to your Snap Projections account. You can make edits to the plan from there, or we can help you make edits to an existing plan through the Plan Review process for an additional fee. The Plan Review service provides a one-hour call to review an existing plan to implement recommended changes.

Who is responsible for the plan and its final delivery?

  • The Paraplanning Service is an extension of our current software subscription and subject to the same Terms of Service. We provide additional support to help you get the desired data and information into the software. As a result, the ownership and responsibility of the plan still remain with you. You’ll have full access to the plan and assumptions. As an appropriately registered advisor, by providing a financial plan created through this service to your clients, you acknowledge that the plan is complete and suitable. Financial plans created through this offering are intended for illustration and/or discussion purposes only.

How do you handle sensitive and personally identifiable client data?

  • Similar to the way our software is set up today, our Paraplanning Service doesn't require any personally identifiable information to complete a plan. You’ll provide all information on a consolidated basis (i.e., you’ll need to gather relevant information from the client’s tax documents, account statements and provide it to us through a standard client questionnaire/discovery document). Our Privacy Policy extends to the Paraplanning Service and provides information on our gathering, use and protection of personal information.

Learn More

If you'd like to discuss whether this offering would be a good fit for you, please click here to set up a call.

If you have any questions before getting on a call, please email us at [email protected]

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