Comparing Scenarios

If you create multiple scenarios for the same client file (which can be done using the Copy Scenario feature), you can easily compare them across a wide range of important metrics. Comparing scenarios can help determine which decisions result in the best overall outcome for your client.

The comparison tool can also provide an overview of each scenario by summarizing the assumptions and results.

This article provides an overview of how to create, customize, and export your scenario comparisons.

For detailed definitions and use cases to ensure you're comfortable with the assumptions and calculations in the Compare Scenarios feature you can also review our Compare Scenarios Definitions and Use Cases article.

You can use the Scenario Comparison tool to summarize one to five scenarios at a time. If you select two scenarios, you'll also see a Difference column for each metric in the Summaries section.

You can create your comparison from the Scenarios list.

You can access the Scenarios list for a given client in several ways.

Once you've accessed the Scenarios list, you can check the scenarios that you'd like to include and then click Compare selected scenarios.

To be comparable, all selected scenarios must have the same number of clients with the same names and dates of birth.

From the Scenario Comparison modal, you can create Summaries (which provide a table of cumulative values for the length of the projection and point-in-time values) or Trends (which provide charts of how different strategies progress over time).

Summaries

Summaries provide a table with customizable Metrics that include cumulative values (e.g., Lifetime Expenses, Lifetime Personal Tax) and point-in-time values (e.g., Estate After Tax).

Trends

Trends provide charts that you can select to compare projections over time to see how different strategies play out across your clients' lives.

Once you've selected your desired scenarios for comparison, you'll be taken to the Scenario Comparison modal where you can customize the metrics, the time window for calculations and the scenarios included (as desired).

Summaries

The metrics are organized into three categories (Primary, Personal Estate, and Corporate Estate).

Primary metrics are descriptors of the projection to help understand what's happening throughout the scenario(s). Examples include the Retirement Age, Lifetime Expenses, and Lifetime Personal Tax.

Personal Estate metrics are the total values included in the Estate Summary accessible through the Planning page and Client Report. Examples include the Total Assets, Debts, Estate Before Tax and Estate After Tax.

Corporate Estate metrics are the total of all corporate entities using the Estate Summary accessible through the Planning page. Examples include Tax on Disposition, After Tax Estate Value, Capital Dividends and Non-Eligible Dividends.

The full list of metrics and definitions can be found in our Compare Scenarios Definitions and Use Cases article.

You can customize the metrics included in your Scenario Comparison by clicking Select metrics to show at the bottom left of the modal.

You can then check or uncheck any individual metric, or you can add and remove entire categories at once.

Once you've selected your desired metrics, you can click the same button at the bottom left that will now display Show selected metrics.

If you'd like to save your selected metrics as your default for future Scenario Comparisons, you can click on the arrow and then select Save current metrics for new clients.

Trends

You can similarly select which charts to include in your Trends analysis using the Select metrics to show functionality at the bottom left and then checking or unchecking the box beside each chart title.

You can customize the From and To Age/Year of the Scenario Comparison from the top right corner of the modal.

In some cases, you may only be interested in comparing metrics for a specific period of the plan (e.g., pre-retirement, post-retirement). In this case, you can change the From and/or To Age/Year.

Summary metrics (e.g., Retirement Age, Projection End Age) will not be impacted by the selected From and To values since these describe the projection settings.

Cumulative metrics (e.g., Lifetime Personal Tax, Lifetime Government Benefits) will be impacted and will display the total in the year(s) specified in the From and To values.

Estate metrics (e.g., Financial Assets, Insurance Proceeds) will be impacted only by the To value. These values will assume that all clients have passed away as of the selected To Age/Year. This is how you can compare estate outcomes over the length of the projection.

Trends charts will begin as of the From Age/Year and finish as of the To Age/Year.

You can toggle the dollar values in the table between Real Dollars and Nominal Dollars from the top left corner of the modal.

The default setting is Nominal Dollars and you can toggle to Real Dollars to view an inflation-adjusted reference value.

You can change the scenarios in your comparison by clicking on Select different scenarios in the top left corner of the modal.

This will allow you to add or remove scenarios before clicking Compare selected scenarios to update the comparison.

A reminder that you can select one to five scenarios to include and to be comparable, all selected scenarios must have the same number of clients with the same names and dates of birth.

Once you've selected your desired scenarios and metrics, you can download the Summaries table as a PDF or Excel file using the buttons in the top-right corner of the Scenario Comparison modal.

You can customize the print settings to adjust the margins and final layout before saving it as a PDF or printing.

Similarly for the Trends, once you've selected your desired scenarios and metrics, you can customize and download a PDF file.

The Scenario Comparison charts and tables are currently available as standalone documents and haven't yet been integrated into the Client Report. If you're interested in adding these charts and tables to the Client Report, please reach out to our Customer Success team at [email protected] or 1-888-758-7977 Option 1 to discuss your ideal layout and experience and we'll share your feedback with our product development team.

For detailed definitions and use cases to ensure you're comfortable with the assumptions and calculations for the Compare Scenarios feature you can also review our Compare Scenarios Definitions and Use Cases article.

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