Asset Diagram Tool
In app tool that enables advisors to inventory clients' assets today and model future asset dispositions in custom-created scenarios, creating a powerful visual of the asset transfer waterfall from owners to beneficiaries.
1. How do I use the Asset Diagram Tool?
The asset diagram tool is designed to enable powerful visualization of clients' assets and their distribution to beneficiaries.
The asset diagram enables advisors to inventory client assets in either table or diagram view.
Once created, the asset diagram be easily updated as asset values and beneficiaries change over time.
This video illustrates how to use this powerful tool:
2. How do I get the most out of the tool?
Create an asset diagram that includes an inventory of client assets today, including:
- Retirement Accounts
- Life Insurance & Annuities
- Investment Accounts
- Bank Accounts; and
- Real Estate.
Model the asset distribution tomorrow, to visualize the waterfall from owners to beneficiaries.
3. What are common scenarios for modeling?
As a wealth transfer visualization tool, Advisors often model distribution events based on the passing of one or more clients.
4. How Do I Getting Started?
Navigate to the Asset Diagram from your client's household page and select "Create Asset Diagram."
5. When should I use an asset group instead of an asset?
The tool's asset diagram view offers users the ability to create assets and asset groups.
An asset group is often preferable, where:
- Clients have multiple like accounts with the same ownership structure
e.g., checking, savings, and money market accounts. - Clients own a collection of valuables
e.g. art and automobiles - Clients have a diverse inventory of assets owned by an entity.
e.g., LLC or trust account ownership.