July 2024 Product Update
This month, we’re demonstrating our new Sidebar functionality, showing you a helpful new visualization option for beneficiaries and their allocations, and touching quickly on two insurance options you can now add to the Asset-Map Report.
Full transcript:
Welcome back to Asset-Map Product Updates
A monthly series highlighting the latest innovations we’re releasing on our platform.
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This month, we’re demonstrating our new Sidebar functionality, showing you a helpful new visualization option for beneficiaries and their allocations, and touching quickly on two insurance options you can now add to the Asset-Map Report.
Let’s dive in….
We’re excited to Introduce the new Sidebar functionality to the Asset-Map Report, offering an alternative way to view financial instrument information that was previously populated in a small window covering the Report.
With a single right click, you can toggle on “Sidebar” to view the information on the right-hand side of your screen using the grey arrow at the bottom of the screen to expand the view fully. This enables you to view the entire Asset-Map as a whole, while viewing or making adjustments to individual members or financial instruments, as well as any integration-linked data.
Moving on to our Beneficiary Visualization, this is a new view available to our Professional and Elite tier subscribers. It facilitates conversations about account beneficiaries and loss of life planning, addressing a common request to be able to “map” where financial instruments go upon death. This visualization allows you to see a quick overview of the totals for each category, with the ability to expand and deep dive into the actual financials that contribute to these amounts.
The main visual change you will notice is a new toggle that shifts the view between the original list, and the new “grid view” that visualizes the beneficiaries. The same member will stay selected when toggling between views.
With “grid view” selected, you can see it has a similar design to how we handle entity rollup. Whenever a member is selected it will create a column for each member that is a beneficiary for any financial the selected member owns. You will then see four boxes in each column that represent the financial types (incomes, assets, liabilities, insurances), resembling the Asset-Map Report boxes you’re already used to. These will display the total value the member has as a beneficiary in these categories.
Clicking on any of the parent boxes will toggle the expansion of that category to see all the applicable financials. Or you can right-click to expand or collapse all boxes together. Click again on any of the linked boxes, to open the financial modals.
To learn more about how to use this visualization, be sure to join the upcoming Accelerate training webinar with LiaJean McHenry to learn how you can use Asset-Map to drive more in-depth estate planning conversations.
Finally, due to popular demand, we have added two new insurance-type instruments to the Asset-Map Report, allowing you to add any form of Medical Insurance or Other Insurance which could include Liability, Accident, Identity Theft Protection, Pet, Caregiver, and many others. This enables you to expand your conversations with clients to address more potential risks and uncover further opportunities.
When adding a new insurance instrument, you’ll see Medical or Other options now feature in the dropdown menu. When Medical is chosen as the insurance type there are conditional fields for benefit amount, deductible, and a checkbox for HSA eligible, while Other Insurance has a benefit interval.
Each of these new insurances will display under the Insurance section on the Financials page, with further updates to be added to the Household Index soon.
That’s all for this time, see you next month.