Bank of New York subsidiary Pershing is to provide its customers with access to NaviPlan Extended, a financial planning tool developed by Emerging Information Systems Inc.
Pershing says NaviPlan Extended builds upon the capabilities of NaviPlan Standard, which has been available to Pershing’s customers for the past year. It is designed to meet the needs of firms that service high and ultra-high-net-worth investors.
The company says the new version offers several enhanced features, including the efficient calculation of the Alternative Minimum Tax at the federal level, and the ability to easily perform detailed federal and state income tax calculations, allowing for itemized deductions, standard deductions, and bracketed tax rates.
In addition, NaviPlan Extended provides advisers with the ability to perform detailed estate analysis, including gifting assets to heirs, creating charitable trusts, and family limited partnerships. A small business planning component is also included that assesses the impact of C-Corporations and flow-through entities, including limited liability companies, partnerships, and S-Corporations, on an individual’s financial plan.
“Achieving success in today’s investing environment requires access to wealth management tools that support high-net-worth customers,” says Brian T. Shea, chief operating officer of Pershing. “NaviPlan Extended offers a best-of-breed solution that will help streamline the planning process for investment professionals and enable them to focus even more of their energy on building client relationships.”