New features and updates to the system will be referenced here and point to articles that have changed content as a result of a new release. Newest releases will be listed on top.
December 2024
- Other Income types “Wages (W2)” and “Wages (Self-Employed)” can now be modeled after the owner’s retirement date to better estimate taxation on work performed after a formal retirement.
October 2024
- Roth conversions can now be modeled to fill specified ordinary income marginal rate tax brackets. A toggle was added in the Roth Conversion tab of the Pro editor. Read more in the Roth Conversion input article.
- Support for Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) calculations have been added to the Pro editor Social Security tab. You can now associate Other Income items of type Pension with a client and enter their Substantial Earnings Years to automatically project the impact of WEP/GPO on the primary, spousal, or survivor benefits of the household. Read more in the Social Security input article.
September 2024
- A new Roth view tab has been added in the Pro editor which includes Roth Cross-Over and Roth Conversion Flows illustrations. These charts and tables help provide clearer analysis on the tax impacts and asset movements of projected Roth conversion strategies. Read more in the Roth view article.
- Marginal Rates (Taxable Ordinary) illustration has been added in the Income and new Roth view tabs. This illustration provides clearer analysis of exposure to ordinary income marginal rate brackets with breakouts of income attributable to Roth conversions and RMDs. Learn more in the Income view article.
- A new Pro report module titled Roth Conversion Strategy Detail has been added to provide client-facing analysis of the tax impacts of proposed Roth conversion strategies. Learn more in the report article.
- Pre-plan tax analysis has been added to more clearly assess the projected tax impact of earnings, Roth conversions, and annuity purchases prior to plan start/start of Segment 1. Learn more in the Summary Panels and Income Plan Summary report articles.
July 2024
- Roth conversions can now be modeled with one of three tax treatments for both pre-plan and in-plan periods – Withheld from Proceeds, NQ Account, or General Obligation. Learn more in the Roth Conversions article.
- 457(b) and Roth 401(k) account types have been added for use in the Pro editor. A full list of account types is available in the Accounts article.
- Rollovers can now be modeled in the pro editor with appropriate restrictions on source/destination account pairings based on registration types. Learn more in the Accounts article.
- The Pro Guide was added to help frame workflows in the Pro editor and introduces the concept of the Planning Triad to help users better understand the interplay between plan data visualizations and potential planning solutions implemented through various inputs and assumptions.
June 2024
- Levelized Investment Income has been added as an option in the Discovery editor when modeling inflation at segment start using either Plan-Level or Segment-Level inflation. Read more in the Inflation article.
- Discovery report look and feel has been updated to align with the new format of summary and detail modules created for Pro reports. View samples in the Reporting article.
March 2024
- New Segmentation Guide page has been added to Pro reports. This page contains a description of the concepts of time segmentation and the benefits it can convey on a retirement income plan to help introduce clients to the concept before viewing plan analysis. Read more in the Segmentation Guide article.
- “Other” income types have been added to the Pro editor to capture sources of income that generate ordinary, LTCG, or tax-free income that do not fall within one of the existing categories. Read more in the Other Income article.
- When specifying a client as having already claimed their Social Security benefit, a claim date is now requested. This date allows the system to “back in” to a Primary Insurance Amount for that client in order to more accurately project spousal benefits for a partner who has not yet claimed their primary benefit. Read more in the Social Security article.
January 2024
- Annuity Detail has been added as a report module in the Pro report package which shows both income and projected cash value of annuities modeled via the Annuities tab in the Pro editor. Read more in the Annuity Detail article.
- Joint Lifetime Payout has been added as a checkbox when creating or editing an annuity of either Period Certain or Lifetime Income to specify whether the income will continue in full after the projected death of the owner. Read more in the Annuities article.
- Annuities now have the option of specifying a payment COLA to show annual increases in the income payment.
December 2023
- Annuities can now be modeled with annual payment COLAs as well as Joint Lifetime Payment options. Learn more in the Annuities article.
- Social Security Custom Claim Ages can now include months, and the FRA is always shown for reference. Learn more in the Social Security article.
- The Report page has been added to the Client Overview area for viewing reports that have been run on both Discovery and Pro plans for the client.
- Pro plans can now be cloned and renamed from the Client Overview area to more easily create multiple scenarios for comparison.
- Wage income (W2 & Self-Employed) have been added as Other Income types in the Pro editor. Read more in the Other Income article.
- Edit All Segments window has been added to the Pro editor. Read more in the Segments tab article.
- Annual Liquidation of NQ Assets has been added as an option for segments in the Pro editor. Read more in the Segments tab article.
- Browse All Clients has been added to the homepage.
November 2023
- IncomeConductor Pro is now live. Pro brings the introduction of a completely new plan editor, with capabilities including a full tax calculation engine, RMD projection, Roth conversion modeling, annuity modeling, account liquidation ordering, and much more. A new reporting package was also launched for Pro plans. Learn more in the new Pro Editor article category.
Pricing is available here.
August 2022
- Segment lengths can now be adjusted by clicking and dragging segment dividers on any of the Plan Editor charts. More info can be found in the Segments article.
July 2022
- Custodial data integration with Charles Schwab launched. You can now authorize Schwab to transmit accounts from one or more of your FA Master Accounts into IncomeConductor for linking and tracking.
- The Cash Flow (by Expense) Chart has been added to the Plan Editor and it appears on client reports at the top of the Expense Detail section.
June 2022
- IncomeConductor Premium subscription pricing has been reduced from $249/mo to $149/mo if paid monthly, and from $2,700/yr to $1,600/yr if paid annually. 1-year contract terms still apply to both payment frequencies.
April 2022
- Release of Health+ add-on product. Upgrade your subscription to access actuarial longevity estimates, Social Security claiming optimization, and medical expense projections right within the dynamic plan editor.
February 2022
- PV/FV option for expenses added. You can now specify whether the value of the expense item being input represents today’s dollars (PV) which will then inflate until the expense start date, or future dollars (FV) not subject to inflation prior to the specified expense start date.
December 2021
- Global client search field added on Home page. You can now search for clients without having to enter the Plan area and browse.
October 2021
To see a demonstration of these features in action, check out the October Advisor Roundtable recording.
- Client creation workflow now calculates plan length based on income plan participants’ projected retirement ages/dates and estimated longevity. These values can edited via the Clients tab within the Plan Editor.
- New clients’ income plans will be illustrated in alignment with calendar years. As a result, there may be a partial calendar year for plans that begin on a month other than January. This partial year will automatically be segmented from the rest of the plan, but can be merged into the next segment within the Plan Editor.
- All “?” icons on tabs in the Plan Editor now point to the corresponding Knowledge Base article and will open the article in a new tab.
- Client ages shown in the Full Plan Detail table and reports for new plans created with calendar year alignment are now calculated as of January 1st for the illustrated calendar year. For partial years at the beginning on plans, the client age is calculated as of the 1st day of the first month of the partial year.
- Income Floors and Expenses can now start and end on specific months. Please note: Relative year inputs are no longer supported, i.e. entering “10” into the Start Date or End Date year field will result in a literal interpretation of 10 AD. This feature will be replaced soon with more specific event-driven selections, i.e. Plan Start, Participant’s Retirement Date, etc.
- The Cash Flow chart and Full Plan Detail table can be toggled to show either monthly or annual income figures. Monthly always shows income figures for the first month of the year, while annual shows cumulative income for the calendar year.
- Non-Income Segments have been renamed to Outside Segments throughout the system.
- Segments now have Merge Down and Split Tool controls in the lower table of Segments tab. These controls were added to allow for easily editing segments without adjusting the plan length and interfering with client retirement age projections or longevity estimates established when the client was first created.
June 2021
- Linked Investments page now shows a list of all clients with associated imported accounts. A stoplight style illustration in each client row shows the number of linked accounts that are current (green), stale (yellow), or broken (red).
- The future value calculators on the Solve Settings tab in the Plan Editor now specify in red any required fields that do not have valid entries.
March 2021
- IncomeConductor Knowledge Base launched and is accessible via the new Help link in the header navigation of the site.
- Custodial data integration with the SEI Wealth Platform launched. Advisors can now establish a data feed of their SEI-custodied accounts and multi-portfolio strategies into their clients’ income plans for tracking purposes.
January 2021
- Integration with Plaid launched to replace Quovo integration. This integration allows advisors to send invitations to their clients from the Linked Investments area to authorize read-only access to accounts that may not be accessible from other IncomeConductor integrations.
November 2020
- Launched IncomeConductor Basic subscription tier. Associated features can be found on the Pricing page.
- Launched self-service 30-day free trial registration.