Spring 2003
For Immediate Release
MoneyFind Platform Enables Financial Professionals and Enterprises to Provide a More Holistic Approach in Servicing Their Clients' Financial Needs Resulting in Increased Business Growth
Campbell, CA/PRNewswire — FinancialCircuit introduced today MoneyFind™, the financial industry's first liability management platform that analyzes, plans, and executes liability solutions for clients all on one independent web platform using real-time market data. By helping clients create wealth and assets from liabilities, the patent-pending MoneyFind platform transforms the way financial enterprises and professionals interact with their clients and provides a more holistic approach in servicing their clients' needs.
Understanding how to translate liabilities into assets improves the client's financial outlook and builds the financial professional's own business. Helping clients better manage the liability side of their balance sheets offers a tremendous, untapped opportunity for financial professionals.
In a matter of minutes, MoneyFind can restructure a client's debt and liability portfolio in order to immediately find more monthly cash flow and tax savings for them. Financial professionals deploying MoneyFind build and strengthen their relationships with their clients and grow their businesses by helping their clients transfer the new found cash into asset accumulation and preservation programs.
Signaling the heightened interest in the first real-time, all-in-one liability management platform, FinancialCircuit is already working with industry leaders in the financial planning, advisory, broker/dealer, insurance, and CPA industries for integration and rapid adoption of its platform as an industry standard liability management solution.
"The MoneyFind platform, integrated with our Methuselah financial planning platform, allows our customers to develop financial plans that consider the total picture: assets and liabilities," said Steven Bock Chairman and CEO of Unger Software, a leading financial planning software provider. "By uncovering savings through MoneyFind, an advisor will help his or her client have more funds to reallocate into the financial plans developed with the Methuselah financial planning modules."
Traditionally, financial professionals and advisors have focused on the asset side of a client's balance sheet with such products as securities, bonds, annuities and insurance policies. With MoneyFind, a professional can now not only find funds to finance these transactions, but they can also reshape the financial advice process by including liabilities as well as assets.
"The total financial advisor is one who understands and helps his or her client with debt as well as assets," said Adrian Nazari, Chairman and CEO of FinancialCircuit. "Now, for the first time, financial professionals have access to a platform that will help them identify extra cash flow from liabilities that clients can use to finance their retirement, children's education or even their trip around the world!"
"The MoneyFind platform integrated with our MyAgency.net platform, which allows agents to market, sell, and process life insurance products faster, is a great fit since MoneyFind allows an agent to prospect better, strengthen their relationship with clients, and close more and larger deals," said Larry Berran, President of iPipeline. "Insurance professionals can fill-out one form online and instantly get up to six options that provide more cash flow and tax savings for their clients. Providing this valuable service and finding more cash leads to better client prospecting, retention, and new sales."
"MoneyFind offers two features we need to have for our CPA practice: An easy-to-use, intuitive web interface, and a simple, tangible liability management solution for our clients," said Don Driftmier, senior partner of the CPA firm Vavrinek, Trine, Day &Co, which has been an early adopter of FinancialCircuit's solutions and MoneyFind. "It is especially useful that the platform provides unbiased liability management scenarios for the client, drawing real-time competitive data from hundreds of financial institutions rather than a select few."
How MoneyFind Works
MoneyFind is designed to be intuitive, easy and quick to use. A financial professional enters a client's basic financial information such as income, liabilities (mortgage, car loan, credit cards, etc.), tax rate, risk tolerance, and other items on the MoneyFind Profile web interface. Then MoneyFind takes that data and considers the client's financial situation, preferences, and goals in order to instantly generate dozens of liability restructuring scenarios. For each suitable scenario, MoneyFind searches various financial institutions in the market in real time, looking at rates, guidelines and other criteria. It determines the best provider for each scenario based on such factors as lowest rate, no cost or lowest cost, no loan prepayment penalties, and credibility of the lender. MoneyFind provides the professional with up to six executable plans that offer cash and tax benefits on a monthly basis. The advisor provides the information to his/her client and can discuss the use or the reallocation of the funds into assets.
Each executable MoneyFind Plan™ delivers detailed information, including a description of the plan, an assessment of its fit for the client (based on the client's lifestyle, risk tolerance, the market and more), an estimate of monthly excess cash flow and tax savings, plan costs, rates, illustrations of the benefits, link to national providers behind the proposals, FAQ, and more.
The use of MoneyFind does not require the financial professional to have any additional licensing. MoneyFind's proprietary real time analysis and planning technology utilizes data gathered from licensed entities and presents the options offered by them for a given client debt portfolio. Financial enterprises and professionals disseminate the information, and the client decides the right course of action to take. Through the use of MoneyFind's proprietary real time execution technology, clients can transact and apply online so that a licensed entity can process and fulfill the chosen plan. The application is instantly submitted to FinancialCircuit's wholly owned automated and fully licensed debt and liability processing center for fulfillment from start to finish. If needed, Financial Circuit's platform is flexible enough so that it can be custom fit to work with any third party lender or processing and fulfillment center.
Financial enterprises and professionals using MoneyFind can earn marketing fees for utilizing and marketing MoneyFind. Furthermore, financial professionals can enroll into the Advisory Program for training and licensing requirements to receive commission on transactions such as mortgages and debt consolidation loans by participating in the transaction processing and fulfillment.
Personalized MoneyFind (PMF), a personalized version of MoneyFind uniquely designed for the individual financial professional, costs $69 per month. There is no setup fee, and there is no extended commitment requirement. Enterprise MoneyFind (EMF), uniquely designed for the financial enterprise, is priced based on an enterprise's specific needs and objectives.
About FinancialCircuit
FinancialCircuit is a pioneer in providing technology platforms and liability management solutions that enable financial enterprises and professionals to expand their services and participate more fully in their clients' overall finances. FinancialCircuit's solutions incorporate analysis, planning and online transaction capabilities based on real-time market data and access to thousands of programs from over 250 lending and financial institutions nationwide. FinancialCircuit customers are financial enterprises and professionals in the public accounting, insurance, securities, and financial planning industries. Founded in 1999, the company is headquartered in Campbell, California. For more information visit www.financialcircuit.com.