Comprehensive, well-built retirement income planning software provides benefits to both financial advisors and their clients.

Financial advisor software empowers advisors to demonstrate their value to clients by building easy-to-understand retirement strategies, from complex tax or income calculations to cash flow breakdowns. The right financial advisor software should include features to help clients through every step of the retirement income planning process, including:

  • Pinpointing the optimal time to start claiming Social Security
  • Navigating taxes
  • Assessing portfolio risk
  • Reducing taxable income

Failing to utilize the best available tools can lead to wasted time and resources, as well as missed opportunities for clients to build wealth.

The Benefits of Finding the Right Financial Advisor Software

Software like Covisum’s Income InSight® and Tax Clarity® use visual tools to analyze multiple retirement income streams. The impactful graphic output allows clients to see their current financial situation in one place, eliminating some confusion surrounding retirement strategy.

Covisum’s software options even empower financial advisors to seamlessly move from one product to another using the advisor portal. That means once a financial advisor understands their clients’ goals, they can efficiently utilize all of the best tools to help them get there.

Do your clients want to retire early? Are your clients saving for a major purchase? Do they want to pay off their mortgage soon? There may be many goals at play in your clients’ long-term outlook. As you begin to build a comprehensive retirement income strategy, you can lean on Covisum’s retirement income planning software to optimize opportunities and help clients visualize the possibilities ahead.

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Income InSight

  • Created specifically for advisors serving mass-affluent and affluent clients in (or nearing) retirement
  • Uses side-by-side comparisons and stress tests against various scenarios, such as a down market, early death, Social Security benefit cuts, long-term health situations, and more
  • Shows clients how Roth conversions can improve their retirement situation
  • Gives clients a year-by-year cash flow analysis
  • Demonstrates the differences between different retirement income strategies through in-depth comparisons
  • Incorporates insurance products to show clients the impact of adding single premium immediate annuities (SPIAs), deferred annuities, or other products

Tax Clarity

  • Identifies sub-optimal tax situations, showing your clients how to make retirement decisions in the most tax-efficient way
  • Uncovers hidden opportunities to create more valuable retirement income strategies
  • Calculates your client’s effective marginal tax rate and identifies dangerous points where income could be pushed into a much higher marginal tax rate
  • Quickly identifies Roth conversion opportunities
  • Showcases alternate tax strategies using comparisons
  • Suggests strategies to avoid unwanted tax situations
  • Includes a self-employment tax feature to calculate the impact of paying both the employee and the employer’s share of Social Security and Medicare taxes for self-employed clients
  • Demonstrates the impact of the deduction for pass-through income and the phase-out of the deduction under the 2017 Tax Cuts and Jobs Act
  • Analyzes the impact that the Saver's Credit can have on a client’s retirement strategy
  • Displays the tax landscape for any given year without creating a new case
  • Compares alternate tax distribution strategies

Social Security Timing®

  • Identifies valuable Social Security benefit strategies
  • Oversees various tax-claiming strategies
  • Identifies which strategy produces the best result overall with various life expectancies
  • Shows clients side-by-side comparisons using easy to understand visual data
  • Identifies the exact year and month the client should start claiming, as well as the month, year, and amount that the client will receive when they pass the earnings test
  • Helps clients make better decisions by identifying the Social Security benefits they can access through the "What’s at Stake" feature
  • Identifies which strategy produces the best overall life expectancy combinations using the Break-Even Chart
  • Creates projections for the four most common alternatives for married couples: widest split, both at full retirement age, both in January of their full retirement age, and both at age 70
  • Shows how benefit cuts could impact clients' retirement strategies using the Benefit Cut Calculator
  • Helps clients understand all available options, as well as the most beneficial choices for their situations


  • Helps clients increase their investment portfolios
  • Helps your financial planning practice retain clients during a down market, preventing them from making expensive investment mistakes
  • Uses portfolio comparison to demonstrate different strategies
  • Creates a well-designed contingency plan to help clients reduce spending or increase assets when steep market declines occur

Help Clients Understand Your Value

Covisum’s financial advisor software simplifies the task of building your clients’ retirement income strategy and highlights the value of your expertise. We’re also here with experienced customer support specialists to guide your practice along the way.

Start your free trial of Covisum’s software products now.
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