This section makes it easy for you to track down all the new features and enhancements that were made in previous releases.
•Update log for 2024.11.2
oBug Fixes / Tweaks
▪Updated Canadian tax rate online reference link.
▪OCQ session time extended to give clients more time to complete the questionnaire.
▪Retirement Income Predictability threshold percentage adjustment added back into this tool by request.
▪Desktop software now provides more visual feedback if manually checking for updates.
▪Bugfix: Client name in top bar did not reflect a name change until a different contact was selected.
▪Bugfix: Canadian culture PCs could show USD currency marker under certain circumstances.
▪Bugfix: FGPS->COW data conversion did not honor non-residence property tax labeling (always converted as Tax Def.)
▪Bugfix: FGPS Annuity was not correctly honoring market history selection under certain circumstances.
▪Bugfix: FGPS Using credit line caused Save More calculation to fail if loan account funding was disabled.
•Update log for 2024.9.7
oBug Fixes / Tweaks
▪PRS screen 1 fits more of the PEM visual onto the screen - it looks better and makes more sense :)
▪IUL Cost comparison manual data entry now supports interpolating negative values.
▪SG annuity account now exposes a cost basis column (if desired.)
▪Tax History event locations were audited to improve alignment.
▪Added pdf import template for Allianz Accumulator.
▪Presentation builder does a better job removing invalid characters from imported image file names.
▪FGPS now has the ability to draw from a credit line as available funds. (Helpful when simulating policy loans.)
▪FGPS/SG Annuity using illustration no longer appears in the list of available funding sources in the cash flows worksheet.
▪Bugfix: FGPS 4Q report included a typo under certain conditions.
▪Bugfix: FGPS qualified annuity using illustration did not generate a tax effect on contributions.
▪Bugfix: OCQ import did not display updated values in FGPS under certain limited conditions.
▪Bugfix: Queuing screen shots of custom presentation screens would fail under certain limited conditions.
•Update log for 2024.7.27
oBug Fixes / Tweaks
▪PEM screen starts will all tanks visible.
▪Mortgage Master screen 10 now allows direct editing of total expenses.
▪Mortgage 101 screens 1 & 2 have an additional bullet point "Equity available upon sale or qualification"
▪Finance 101 & Mortgage 101 now show collateralization against safe tank funds.
▪PRS and Mortgage 101 received a couple minor text tweaks for clarity.
▪Spending Game Accounts screen received a couple minor labeling changes to increase consistency. 1) PLI will display as CVLI in account list. 2) M.P. changed to MCP in tank selection list.
▪Bugfix: Illustration-based annuities would transfer from Financial GPS to SG scenarios, but they did not save all the illustration data necessary. Consequently, the account would have missing values when opened at a future date.
•Update log for 2024.5.18
oBug Fixes / Tweaks
▪10-step launchpad now uses the PEM 101 storyboard as the link in step 2 in order to help new members learn/utilize the tool. (The normal PEM screen is still accessible in the center of the 10-step graphic for those who don't want training wheels.)
▪FGPS screen 3 will now synchronize the tank scale between scenarios when using the PEM visual mode.
▪FGPS screen 3 and report now offer alternative functionality for Save More & Work Longer when the client (and spouse if applicable) is already retired. For save more, the screen calculates the initial lump sum liquid assets needed to reach their retirement goal (e.g. they may have 1.5MM already saved, but this calculation may find they need 3MM in available funds in order to spend their desired lifestyle through life expectancy.) For Work Longer, the on-screen button is disabled, because working longer is not an option anymore. In the report, the work longer section is rewritten to describe how long their available funds are projected to last - which matches the expectation set on screen 1 when in retired mode.
▪FGPS now has the ability to reorder accounts and move accounts between scenarios using the lists found in the Contact->GPS data area.
▪Navigation between fields using the tab key now supported in popup dialogs.
▪Legacy screen navigation using the up/down arrow keys has been removed in order to allow them to be reused for table scrolling. (You can still navigate screens using PageUp, PageDn, and space-bar.)
▪Bugfix: SG TDBT account did not persist the Allow EWD setting.
•Update log for 2024.4.13
oBug Fixes / Tweaks
▪Tax Updates for TY 2024.
▪FGPS edit scenario dialog box refactored to make it more intuitive to use.
▪FGPS 4-Questions screen will auto-scroll table to retirement year - 1 when performing the Spend Less calculation (so it's easier to see the change in retirement income.)
•Update log for 2024.3.16
oBug Fixes / Tweaks
▪New PEM 101 storyboard that provides animation and talking point prompts to help new members learn and present the model.
▪Documentation worksheets will repeat index columns for multi-page reports.
▪Added filtering options to FGPS worksheets.
▪New "Show all 4 answers" button added to FGPS 4-Questions screen. FYI: Don's intent for this button is to easily review all 4 individual calculated results AFTER you've already gone through the options individually.
▪Bugfix: FGPS PEM side-by-side view did not immediately update displayed lifestyle after a 4-question result was applied to the model.
▪Bugfix: Deleting SG reallocations could fail under certain (unusual) conditions.
▪Bugfix: FGPS->SG export would inadvertently sync client and spouse retirement ages in the resulting SG scenario.
•Update log for 2024.2.24
oBug Fixes / Tweaks
▪Financial GPS
•Added side-by-side PEM comparison mode to screen 3 of the presentation. (You'll see a new button in the bottom right corner of the screen that toggles between Table & PEM display modes.)
•Modified [Save More] calculation logic to better support constrained/manipulated desired lifestyle cash flow - specifically when those constraints generated excess funds in the model.
•Added advanced option to Inflow account (to manipulate inflow amount in future years) per member request.
•4Q report now resets button-based assumptions and hazards as a first step in the report generation process (so they don't influence the results.)
▪Bugfix: (old/deprecated) RRON 4Q report had an issue with the title layout.
▪Bugfix: SG PEM Visualization was not displaying tank values in dark mode.
•Update log for 2024.2.9
oBug Fixes / Tweaks
▪SG Loan Account - added a Credit Remaining column (Credit Line - Balance EOY) to the list of available display/reporting columns.
▪Bugfix: Financial GPS - if TDBT account was selected as a MCP account, the tax effect of contributions was erroneously showing up as an itemized expense in the PEM model.
▪Bugfix: The 4 Questions report could clip chart data under certain conditions. We also discovered we needed to increase the acceptable wait time for the calculations to complete to accommodate complex scenarios and/or slower computers, otherwise the report may return with some results as zero.
•Update log for 2024.1.27
oNew/Updated Features
▪Updates to the Contact Dashboard. See all events scheduled for today or upcoming in the next two weeks - finally, a way to make use of the todo feature! Also, enjoy a new FGPS contact data tab which provides an intuitive representation of the active FGPS scenario along with direct access to your favorite storyboards and several new FGPS reports.
▪New and greatly enhanced Financial GPS Version 2! - Last year's addition of Financial GPS was well received and was a real game-changer that easily transitioned leads into prospects ready to move forward with the process. However, you asked for more - greater control, multiple scenarios, advanced data entry options, more and better reporting, scenario comparisons, a tool that can be used throughout the sales process. We listened and rebuilt the tool from the ground up to do that - and more!
•Unlimited number of FGPS scenarios per contact.
•Scenario comparisons - both single scenario (baseline to modified) and dual scenario (Position A to Position B) options.
•Additional model options such as retirement tax bracket, optional early withdrawal penalties, more granular control of contributions, withdrawals, fees, rates of return, property buy/sell, future loan payout/payoff, and major capital purchase designation to prevent accounts from funding future lifestyle.
•Hazards - the ability to inject a significant event into the scenario(s) and see how the model responds. Hazards include: disability, long term care, major liability, market volatility, premature death, and tax rate changes.
•Insurance policy types: Disability, LTC, P&C, Term Life, and Umbrella - which can help shield against hazards.
•PEM view improvements such as better tank scaling, BOY/EOY tank balance and PV/FV lifestyle display options, and a visual indication when accounts are subject to RMDs.
•Updated solution calculator options:
oSpecify positive or negative returns.
oSpecify additional contributions to individual accounts or the percentage of calculated contributions to apply to individual accounts.
oChoose whether to maintain current lifestyle (funded by an "additional income source" like RRON) or by increasing lifestyle efficiency (funded by "found money" - like SG) when making additional contributions to save more.
oAdd additional accounts on-the-fly, specify retirement age directly, toggle comparison modes, apply hazards, copy data to other COW presentations or Spending Game.
oAccess "SG-like" Cash Flow Worksheets and Annual Summary for All Accounts for both the baseline and active (revised) scenarios.
•New Financial Fact Check report - Generate the equivalent of a confidential questionnaire using the FGPS scenario data and use this report in your annual reviews to confirm you have their latest account information.
•New Retirement Roadmap report - Once you've modeled your suggested strategy in Financial GPS, generate a beautiful takeaway report from that data with a single-click! Want more control? Of course you do, feel free to override the default wrap-up text with your own summary content.
▪IUL Comparison Calculator - Tired of being told that IUL policies are too expensive compared to other investment options? This calculator let's you prove that IUL policies can actually be more cost efficient over time. As a side benefit, this new calculator will also allow you to compare the costs of different policies against each other.
▪Capital Equivalent Value of Life Insurance - At last year's Cow College, Bryan Bloom, CPA shared how he communicates the capital equivalent value of life insurance and how it is so much more than simply it's internal rate of return. This year we worked together to create an easy-to-use storyboard so that you too can leverage this powerful concept with your prospects and clients.
▪Updated and Easier to learn 10-Step Process - Over the past year, Don has been simplifying, refining and testing revisions of his 10-step sales process with a specific focus on achieving repeatable success with every prospect you meet.
▪Updated Circle Talk - With the advent of Financial GPS, we've removed the deprecated screen 13 (80/20 prescription) and instead finish the story on screen 12 with a directed closing statement.
▪Spender, Saver, Wealth Creator, Legacy Provider Storyboard -This is a new story that Don developed to help communicate and promote legacy giving.
▪Entering PII (Personal Identifying Information) is now discouraged by default. As information systems have come under increased risk of cyberattack over the past year, we believe it to be a prudent strategy to discourage and/or remove unnecessary PII from the Circle of Wealth system wherever possible.
•All summaries and accounts now include an Age EOY column (hidden by default.)
•New Retirement Roadmap visualization which mirrors the chart found within Financial GPS.
•Outflow accounts have a new "M.P." option which will display the outflow amount in the major purchase tank.
•Qualified accounts have new "Allow EWD" (early withdrawal) and "EWD Penalty" options. These are applied when using the auto-solve feature of the cash flow worksheet and allow the calculation to skip funding from qualified accounts until they become available without penalty.
•Accounts subject to RMD will have their name appear in red in the PEM visualization once they reach RMD age.
•Accounts with "Enforce RMD" activated will allow withdrawals greater than the RMD. Previously, it this setting would always override withdrawals so they could 'reset' after model changes. If you are performing what-ifs and rely on the RMDs to reset to lower values, you'll need to manually 'reset withdrawals to zero' between iterations.
oTweaks
▪Up-to-date training schedule (with links for quick access) added to the COW dashboard.
▪Permanent Insurance has been renamed Cash Value Insurance whenever practical throughout the system.
▪RRON-specific data is no longer presented on the contact detail screen by default. However, if your "Lifestyle Regulator Link Preference" is set to "RRON", a new RRON data tab will which includes these legacy values.
▪Miscellaneous bug fixes, typo corrections, wording updates, and data entry safeguards added to address issues reported by our members or discovered by our team.
▪Market history updates for FY2023
•Update log for 2023.8.23
oBug Fixes / Tweaks
▪QP101 screen 3 swapped the order of the last two summary items to keep related concepts together.
▪Financial GPS revolving credit account editor was missing the Monthly New Charges data entry field. Also fixed an issue that kept manually set desired lifestyle from being immediately displayed on screen 2 in the first year (This was a display update issue only - underlying calculations were correct.)
▪10 Step launch pad (2024) changed several documentation links to their pdf equivalent for consistency. Also added Financial GPS to step 3.
▪OCQ link (not set) showing for a small group of members.
▪Added printed report to Budget Builder screen.
▪SG annuity account did not inherit prior row "withdrawal as inflow" setting when additional years were added to an existing scenario.
▪SG reallocations from taxable accounts to TDBT ones now generate beneficial tax effects (like a contribution does.)
▪SG visualization and reporting bar charts now attempt to persist the visibility state of individual accounts being shown when changing the number of years being displayed. E.g. If you click an account name in the chart legend to hide it, and then change the start or end year, the chart refreshes and the previously hidden account remains hidden. (You're welcome Ryan ;)
•Update log for 2023.7.27
oBug Fixes / Tweaks
▪Circle Talk screen 3 accumulated money tooltip will change based on your current RRON/FGPS preferred storyboard setting.
▪PEM standard of living examples will now allow you to toggle the sub-dialog header between "Major Capital Purchase" and "Major Lifestyle Expense" by clicking on the header text.
▪PEM right-clicking the QP tube text will toggle it to display "Deferred Compensation" to support members having that niche conversation.
▪Fixed 4-Questions report Save More value did not always match calculated/displayed value.
•Update log for 2023.7.12
oBug Fixes / Tweaks
▪PEM visual changed the word 'Outflow' to 'After-Tax Cash Flow' to be more intuitive to clients.
▪Added new setting to allow control of presentation activity being logged to contact (or not.)
▪Added beta 2024 versions of 10-Step launchpad and Circle Talk to simplify new member training.
▪Updated pdf parsing template for MTL Horizon Value WL.
▪Updated QP101 storyboard to display changed RMD penalty percentage.
▪Fixed Tax History could display the personal tax rate with extra digits under some circumstances.
•Update log for 2023.5.7
oBug Fixes / Tweaks
▪Updated tax tables to tax year 2023 rates and thresholds.
▪Accumulation vs. Distribution changed label from "Certificate of Deposit" to "CD and Cash."
▪Added additional keywords to storyboard search dictionary based on member feedback.
▪Enhanced SG RMD calculation logic to accommodate Secure Act 2.0 future age change. (Citizens born after 1/1/1960 have RMD starting at age 75.)
▪Adjusted SG Transferred Money visualization sidebar layout to keep the account list from 'disappearing' when the available display height was insufficient.
▪Fixed Structured Income Streams checkbox functionality issue.
▪Fixed SG Taxable Income Summary report showing taxable income for Roth Annuities with Income Riders after basis was depleted.
▪Fixed QP Screen 6 after tax documentation displaying wrong value in final year net withdrawal.
▪Fixed FGPS would not adjust age 'red box' if the client never ran out of money (still.)
•Update log for 2023.3.24
oBug Fixes / Tweaks
▪SG Taxable and Tax Free accounts did not update associated account-level fields when values were pasted into the first row.
▪SG visualization Summary Values column selection logic was updated to address undesired behavior when the same column was selected multiple times.
▪Updated import button label on Contact Dashboard to make the Online CQ panel easier to find.
▪Changed the final button on the Online CQ portal to display "Finalize & Submit" so respondents would know that moving forward completes the process.
▪FGPS would not adjust age 'red box' if the client never ran out of money.
▪FGPS screen 2 was always displaying the sweep account in the funding account list - even when it wasn't being used.
▪FGPS term insurance account now uses the same start and end age strategy logic as the other accounts.
▪FGPS returning to screen 2 after changing the tank scale would cause the tank scale slider section to disappear.
▪FGPS account data entry fields no longer allow you to inadvertently 'delete' currency values. (Doing so would cause calculation errors since 'nothing' is not a number.)
•Update log for 2023.3.6
oBug Fixes / Tweaks
▪Added notice to OCQ settings to indicate that the portal culture will be updated when you save updated portal settings (We built it in from the start, but didn't emphasize that feature initially and have fielded several support calls asking if/or how to update the OCQ portal for Canadian financial products. Lesson learned... we'll make such options more visible in the future.)
▪Added 'skip forward >>' button to FGPS screen 1 to allow you to bypass that screen if you've already presented it before.
▪Fixed FGPS -> SG Head Start issue where PLI illustration data transferred, but did not force the SG account to recalculate immediately - so calculated PLI values (like spendable income) were not populated before the spend-down method was applied. Wow what a rabbit hole that was!
▪Constrained FGPS screen 3 work-longer specified years to not exceed the length of the projection.
•Update log for 2023.2.27
oBug Fixes / Tweaks
▪Replaced RRON links in the 10-step launchpad with Financial GPS.
▪Updated the screen finder storyboard list.
▪FGPS future lifestyle account list now displays cash surrender value for PLI type accounts.
▪Contact data tab FGPS account list was missing the option to add an Inflow account.
▪FGPS screen 2 step 7 funding account list changes (on their own) did not immediately force a model recalculation.
▪Added a few requested keywords to storyboard list (to make them easier to find. ;)
•Update log for 2023.2.14
oBug Fixes / Tweaks
▪Renamed RRON/FGPS link option setting to "Lifestyle Regulator Preference" (formally Tax Filter Preference.)
▪Fixed edge case issue causing favorites list to be unintentionally overridden.
▪Updated PDF generation library to resolve issue where SG Model View Net Worth chart would intermittently not print.
▪Added refresh notifications for Asset Class List in settings to resolve 'stale' list issues.
▪Added "toggle asset visibility" checkbox to SG Spendable Income visualization bar chart.
▪Updated style classes for Online CQ settings dialog so it's actually usable with dark themes.
▪Fixed Mortgage Master screen 11 link color. (This probably fixed other presentation screen links as well.)
▪Updated QP101 screen 3 to reference new RMD age of 73.
▪Clarified Financial GPS retirement age to represent the first year when the client is no longer receiving an earned income.
▪SG Cash flow worksheet (and Financial GPS) Balance B.O.Y. column now reflects the row's 'initial value' (which is the same as the previous row's E.O.Y. value.)
▪Umbrella Insurance screen 1 layout did not adjust properly for narrow screen ratios.
▪Fixed animation timing on several 101 presentations.
▪Fixed 10 Min Lesson 101 premium input locations.
•Update log for 2023.2.4
oNew/Updated Features
▪Online CQ web portal defaults all questionnaire values to zero or empty to better indicate which fields the prospect actually entered data into. Subsequently, when importing OCQs into a contact record, only non-zero/non-empty data fields are transferred as client entries. This does a GREAT job of not 'polluting' your contact data record with 0/empty bold fields. A bit of DI on our part.
▪SG Head Start using FGPS data will now transfer over the sweep account (if used) and perform the present position spend-down in order to begin the SG scenario in a state that matches the Financial GPS present position.
oBug Fixes / Tweaks
▪Retirement Income Alternatives screen 4 - improved the interest rate syncing experience between the conserve vs. consume options.
▪SG & FGPS, you can now click on the "Remaining Income Potential" balance to show/hide the tank balances. This is useful if you choose to 'over-scale' the tanks to display all the accounts and the balances are in the way.
▪SG Asset Allocation & Allocation Mix storyboard - No/Low Risk tanks display green fill to visually indicate they are "Safe tank" assets.
▪SG we 'warmed' the light-theme editable column color a little based on member feedback.
▪FGPS had a few intermittent reports of the 7 step buttons not appearing on screen 2. We finally had an opportunity to diagnose the experience and this release includes the solution.
•Update log for 2023.1.28
oNew/Updated Features (video overview)
▪Complete Framework Update - Software component features, tooling, and visual elements continue to evolve at a break-neck pace and we're committed to make sure that Circle of Wealth users are not lagging behind. The 2023 software release was completely rebuilt using the latest available components which not only ensures continued maintainability but also unleashes a host of new and useful capabilities.
▪Light & Dark Themes - The new framework comes with an entirely new set of themes to choose from, all of which include both a light and dark background option. We think you'll find these new themes not just visually pleasing, but much easier to view in different lighting scenarios.
•PEM Tax Filter Click Preference - Choose between launching RRON or Financial GPS when you click on the PEM tax filter.
•Spending Game Visualization Option - You may now choose the default visual to be displayed when you click the Visualizations link in Spending Game.
•Option to enable biblical references on the PEM model.
▪Financial GPS storyboard - This game-changing new storyboard combines the visual simplicity of the PEM, ease of use of Retirement Ready or Not, and the calculation power of Spending Game to provide a simple to learn process to attract and engage prospects to want to move the conversation forward with you. Use this new tool to quickly and easily collect the prospect's 'present position' scenario data and show them the answers to the 'four questions' using their account data right on the spot. When done, you can use their data to seed a full SG scenario (which can be used to model your recommendations,) back-fill RRON data (for use in other storyboards like allocation mix,) and generate a Financial GPS report as a take-away summary document.
▪Online Financial Questionnaire Portal - You asked for it - we built it - an all new customizable web service to collect financial questionnaire (aka eCQ) data from you prospects and import that data directly into your Circle of Wealth software. You can embed your questionnaire portal into your website (using an iframe) or provide/send your specific portal link to your prospects for completion. Your Circle of Wealth software then checks for completed online questionnaires and automagically moves them to your private Circle of Wealth software database for review and processing.
▪Import Online Questionnaire Feature - The companion feature to the Online CQ portal, this screen allows you to review, print, or use any of the online questionnaires associated with your private link. OCQ data can be used to update an existing contact or as the basis for a new contact. This is also where you customize the online portal colors and thank you messaging.
▪Enhanced Contact Data Tab - Additional information collected by the Online CQ and Financial GPS storyboard is available for review and editing within the data tab. We also added additional helper buttons on the right side.
▪Screen Capture w/Annotations - New ability to print/queue a screenshot that includes annotations (just remember to pause the drawing tool so you can click the screen capture button ;).
▪Budget Builder Calculator - A simple budget building calculator that can be used to illustrate the budgeting process.
•Column Freezing - Spending Game tables support the ability to freeze columns to both the left and right side so they remain in view while scrolling. BTW: This looks great with row highlighting too! (This feature request has been on the top of the wish list since 2020, but required the new framework to achieve.)
•Row Highlighting - Many tables now include the ability to click on a row to highlight it (click it again to remove the highlight.)
•Cash Flow Reconciliation has a new [Total Account Balances B.O.Y.] column which supports a more logical left-to-right visual calculation flow using the default cash flow layout.
•Roth Annuity option added to the annuity account. When selected, TDBT conversions to the account will be taxable. Additionally, Roth annuities will appear as Tax Free/Tax Advantaged dollars in subsequent SG reports and visualizations.
•U.S. RMDs are triggered at age 73 due to recent Secure Act 2.0 changes.
oTweaks
▪Lots of minor visual UI changes related to the framework update. We worked very hard not to 'move the cheese' on you, but it wasn't possible or desirable to make everything look/work identically to the older components. ;)
▪Compare Account Types storyboard - account documentation now includes taxes paid and cumulative taxes paid.
▪RRON screen 4 documentation link replaced with a 'print' button.
▪Added faint RISK and SAFE labels to tanks in Financial GPS & SG PEM visualizations.
▪Market & inflation history updates for FY2022
•Update log for 2022.10.20
oNew/Updated Features
▪Spending Game visualizations now persist common selections as you move between views (e.g. Protection Level, Summary Values, and Model View choices) making it more fluid and intuitive when navigating to see/adjust other data and then come back again.
▪Mortgage Master screens 15-17 chart colors changed to blue and black (matching the legacy software) in order to avoid an unintended good/bad labeling that green and red might imply.
▪Mortgage Master screen 13 data is now carried forward to screen 14 (the start of the legacy Compare Two Mortgages.)
▪Added TSX Total Return index values to market return calculator.
▪Added additional TSX historic market values.
oBug Fixes.
▪Spending Game imported scenarios would show raw html tags in the notes section.
▪Updated SG Fund Desired Income logic to solve better when taxable accounts that had very large PTFL liabilities in future years.
▪IFR screen 10 corrected labeling in B.O.Y entries. They said "Balance", but should have read "Withdrawal" and "Deposit" respectively.
▪Fixed text justification for contact report todo & note details.
•Update log for 2022.6.23
oNew/Updated Features - Happy Canada Day!
▪Canadian Culture
•Tax History now includes provincial tax rates.
•Income Tax calculator now includes provincial tax rates.
•Tax Thresholds storyboard now includes provincial tax rates.
•Life expectancy is calculated using Canadian tables when Canadian culture setting is active.
•RMD calculator uses RRIF withdrawal calculations when Canadian culture setting is active.
•Spending Game adds a [RMD Age] field to TDAT, TDBT, and Annuity accounts for Canadian users to support RRIF account minimum withdrawals at any age. (The default setting is the normally configured RRSP to RRIF transfer age - 71.)
•The maple leaf appears on every dashboard screen.
oBug Fixes.
▪Compare Accounts - fixed a minor typo.
•Update log for 2022.6.1
oBug Fixes.
▪Compare forward mortgages data entry screen would reset certain values to default if you returned to the screen without having an active contact. An active contact is no longer a requirement to assert data changes.
▪IFR screen7 correct wording to "Flat Tax" in title.
▪Income tax calculator marginal breakdown did not align vertically on desktop version.
▪Income tax calculator now uses new AGI value when calculating the effective tax rate.
▪Circle Talk screen 9 now changes heading to 'Bat' when baseball image is selected.
▪RRON screen 3 could hide the Retirement Income Projection header but not toggle it back on. You can toggle both states now.
•Update log for 2022.4.22
oNew/Updated Features
▪Tax rates and thresholds updated to TY2022 values
▪Spender Saver Wealth Creator last screen now shows the green tank continuing to increase as debt is paid off.
▪Income Tax calculator reworked to add gross income and deductions - which then generates the taxable income used to calculate taxes due.
▪Added client name to report footers.
▪Added a confirmation popup when someone clicks the "contact me" link in the referral center.
▪Mortgages 101 screen 3 added a link "Cash or Mortgage" which jumps to "How Would You Like to Pay for It".
▪Canadian Culture
•Ten Minute Lesson 101 - modified wording in the RSP vs LI comparison dialog.
•Qualified Plans 101 - fixed typo on screen 3.
oBug Fixes.
▪RRON pem view did not net out matching funds from displayed cash flow values.
▪Distribution solution did not save changes to "Project To" age.
▪Addressed a rare, edge-case theme coloring issue.
•Update log for 2022.4.2
oNew/Updated Features
▪Custom presentation can now have keywords/notes associated with them to make them easier to find.
▪Custom presentation screen image list now has an option to delete all unused images (making it very easy to clean out the dead wood.)
▪Custom Presentations Builder adds filter capabilities to your custom presentation [by name, keyword/notes], source presentation [by name, keyword], and image [by name] lists.
▪SG Cash flow Worksheet report now tries really hard to fit all rows on one page (if possible.)
▪Report Builder adds the client name to the file name of the generated report for easy reference.
▪Added a pdf import template for Columbus Life Indexed Explorer Plus UL.
▪Added member notice area to bottom of the dashboard recent list.
▪Canadian Culture
•Added RRSP to registered plans screen 1
•Added maple leaf to heading of all feature areas (not just the main dashboard.)
•Major Wealth Transfers, removed Tax on SS button and replaced it with Tax on OAS. This is currently a placeholder for discussion and does not link to a calculator (at least not yet ;)
•PEM Scenario mode "Social Security" changed to "CPP / OAS" in the drop down. The pool is now labeled "Canada Pension Plan"
oBug Fixes.
▪4 Questions report did not list future expenses properly. Sorry about that.
▪Roth comparison calculator did not work properly if current and retirement ages were the same (or reversed.)
▪Spending Game CFW Fund Desired Lifestyle from Taxable account with Pay Tax from Lifestyle activated did not handle large tax swings well in certain circumstances.
•Update log for 2022.2.25
oNew/Updated Features
▪SG cash flow worksheet now supports manually setting column breaks for printing (just right-click the column header to set/clear where you want the table to stop.)
oBug Fixes.
▪RMD Table III Uniform Life lookup was returning the wrong factor (due to an index change with the new tables.)
•Update log for 2022.2.18
oBug Fixes.
▪New members were not seeing the default favorites list. Our humble apologies about that!
▪401Condo - updated RMD wording from 70 1/2 to 72 to reflect newer rules.
•Update log for 2022.2.12
oNew/Updated Features
▪Updated all RMD life expectancy tables to include the 2022 changes.
▪Excel export precision changed to two digits.
▪Report builder starts up with the "last used" page layout selected. (portrait/landscape)
▪Retirement Income Alternatives screen 4 - Added cumulative totals to last line of the documentation worksheet.
▪Retirement Income Predictability - Search keywords added per member request.
oBug Fixes.
▪Contact names with "/" could not be accessed.
▪Income Tax screen top tax bracket segment calculation was unintentionally constrained. (However, this did not affect the summary result value in any way.)
▪SG Annuity account surrender factor had a formatting issue.
▪Market History excel export had a number formatting issue.
▪Compound Interest screen 2 did not apply account balance change.
•Update log for 2022.1.21 release
oNew/Updated Features
▪Enhanced Reporting
•New Report Builder feature - Easily compose professional quality reports for your clients and prospects utilizing output from any of the Circle of Wealth presentation calculators or Spending Game scenarios combined with your own template-enabled personalized content.
•Printed output refinement - All documentation tables and charts have been reviewed and refined to improve layout, pagination and print quality.
•COW documentation worksheet filter and assumptions - Filter visible and printed rows by Age/Year/Row as well as selectively hide unnecessary columns before queuing/printing/exporting the data. Initial assumptions header option available for select worksheets.
•Personalized Age columns in Spending Game - Tables and reports will substitute names for Client and Spouse in the age columns. E.g. "Client Age" becomes "Fred's Age".
•Spending Game Account reports - Select individual accounts to print or select them all for use with the new report builder.
•SG PEM Visualization Protection Levels will display in the report if they are displayed on screen.
▪Enhanced Data Management
•Data LiveSync feature - When data syncing is enabled, the system will now update the sync database immediately after a change is saved locally. This feature replaces the previous batch/interval data sync strategy. In addition, a new 'first time sync' process will download your existing data from the sync server en masse to your new installation while keeping you well informed along the way.
•Spending Game Auto-Save option - When selected, pending changes to your active scenario are automatically saved every minute. This can help in avoiding accidental loss of data when building scenarios 'on the fly' with clients. (Hint: It should probably be turned off when performing "what if's" on the scenario, since you probably don't want to overwrite the saved version with such temporary assumptions and results.)
•Additional Data Loss Prevention alerts - The system will now pause the close/exit process and give you an option to return and save your unsaved changes before closing the program.
•New and Improved Data Access Engine - The entire data access layer was reviewed and rewritten in order to achieve an 'order of magnitude' improvement in speed. COW has never been so responsive! However, there is a temporary small price to pay for this new "super-charger" upgrade - existing 'Recent Contact' and 'Recent Scenario' links will not navigate as expected because they contain references to 'slow' data access links. Thankfully these 'stale' recent items will quickly be updated as you navigate the software.
▪10-Step Launchpad refresh - The launchpad was completely reworked to make it easier to use and explain.
▪Presenter Dashboard group changes - New selections are Favorites, All, Custom, and Steps 1 - 10.
▪Presentation Builder Source Presentation Filter - You can now filter the list of source storyboards by keyword (similar to searching for storyboards in the presentations dashboard).
▪PRS Opportunity Example storyboard - This new storyboard provides an intuitive way to show and document how a loan can be used to fund an investment opportunity.
▪Dollar Cost Averaging storyboard - A presentation to explain dollar cost averaging to accumulators.
▪Social Security Early or Late update - This calculator is refactored to better resemble its online peers.
▪Reverse Mortgage 101 updates - Screens 3 & 4 contain updated wording and flow to provide a more natural conversation and explanation.
▪Drawing Tool is now available when documentation is being shown, giving you the ability to highlight and annotate the displayed values.
oTweaks.
▪New contacts are automatically selected when created.
▪Additional keywords added to several storyboards thanks to member feedback.
▪Canadian Culture
•Removed FICA tank in PEM Social Security scenario
•Hid (non-applicable) reverse mortgage button on RRON data entry screen.
•Update log for 2021.11.12
oNew/Updated Features
▪Update U.S. tax brackets to 2021 values.
▪SG added reallocation editor to Reallocated Funds TE column.
▪SG new case year will default to current year. (Previously it rounded to nearest year.)
oBug Fixes.
▪SG Reallocation Fund Contributions/Payments from Qualified accounts to non-qualified with PTFL generated incorrect funding amounts.
▪RRON Spend Less % change display incorrect when Defined Benefits hidden.
▪SG deleting an account did not automatically delete associated reallocations.
▪SG Reallocation Reduce amount may be different than balance by pennies in final year due to annual rounding. Adjust warning to compare whole dollar withdrawal amounts to address possible bogus warnings.
▪SG Older scenarios (with saved custom layouts) do not have access to newer columns (CFW "Rows" for example.)
•Update log for 2021.10.16
oNew/Updated Features
▪Spending Game is now MUCH more aware and responsive to incoming scenario changes via sync. (Best practice is still to NOT edit the same scenario at the same time from multiple locations - because doing so will generate record conflicts.)
▪SG scenario cloning process updated to check for unsaved changes before cloning an active scenario and will present an option to clone with, or without, the changes.
▪Added new option to accounts that appear in the SG Cash Flow Reconciliation worksheet (CFW) to allow Showing/Hiding those accounts in the CFW. Consequently you can now hide account columns using the Column Control Panel in the CFW. Doing so will toggle the associated account CFW option for you behind the scenes.
•Update log for 2021.10.08
oNew/Updated Features
▪RRON / SG Head Start improvements:
•If default account names are in use, 'Annual Savings' will become a contribution for the 'Current Value of Investments' account.
•An annual savings account ending in the word 'match' will be considered a company match inflow and not impact the current lifestyle calculation. In addition, when used with SG Head Start, it will become a company match for the associated TDBT account. For example, assume a client is contributing $3,000 and their company is matching $2,000 annually into their 401k, which has a beginning balance of $100,000. You would enter it as follows:
oAnnual Savings
▪401k -> annual client contribution of $3,000
▪401k match -> annual company match of $2,000
oAccumulated $
▪401k -> a Tax Def account with beginning balance of $100,000
▪SG Annuity account now defaults to LIFO when added to the scenario.
oBug Fixes.
▪Club vs. Swing list of benefits was not set to bold text like all other instances of the list.
•Update log for 2021.9.25 (and 28) release
oNew/Updated Features
▪Added "Need help logging in?" link to login screen which directs to a support page that can help you remember your credentials.
▪Added ability to set your own default list of assets in Club vs Swing storyboard.
▪In Social Security Early or Late storyboard, changed "assumed rate of return" to "cost of living adjustment" along with a default value of 2%.
oBug Fixes.
▪Time & Money "Revised Saving @ xx" age label would concatenate instead of sum age values under certain conditions. This did not affect any calculations.
▪Auto-sync setting liked the number 5 way too much and made it difficult to enter numbers that didn't start with 5.
▪iOS Only - Mortgage Master (and several other storyboard screens) had data entry issues.
▪Fixed PEM layout issues in RIA screen 4.
▪Fixed minor typos on PRS screen 6 and on an IFR screen 11 dialog box.
▪.28 release fixed an issue with popup calculators in desktop versions.
•Update log for 2021.8.20 release
oNew/Updated Features
▪Spending Game Inflow Account type has a new 'Deductible Amount' column and ITR option to better model taxation of AGI.
▪SG Head Start feature updated to better align data conversions so RRON & SG results easily match.
▪Added right-click 'Copy' feature to TVM calculator results.
▪Swapped Term & Umbrella Insurance in the PEM Protection Items graphic. Doing so groups like items together (P&C, Medical, Estate)
▪Updated PEM Protection Items 'Wills & Trusts' link to jump to Estate Planning storyboard.
▪PEM Protection Items 'Active' shield changed to gold for increased visibility.
▪Compare Fwd Mortgages - added Current Age data entry field to support direct usage scenarios (I.E. when you've not had the opportunity to enter the prospect's age yet.)
▪Safe Account Benefits - minor updates to Fixed Annuity considerations.
oBug Fixes.
▪Tax History -> Income Tax link lost the ability to 'Use Result'.
▪RRON Screen 4 PEM side-by-side view did not display correctly in narrow screen mode.
•Update log for 2021.7.27 release
oNew/Updated Features
▪Logged in member name is now displayed in the settings drop-down menu.
▪Made a minor wording change in 4 Questions report to better support Canadian members. (Changed the wording 'qualified accounts' to 'retirement accounts' in one instance.)
▪Desktop popup calculators are now culture aware and will provide Canadian data if that culture setting is selected.
oBug Fixes.
▪Canadian SG PEM Visualization displayed 'Qualified Plan Contribution' instead of 'Registered Plan Contribution.'
▪Canadian culture 'Tax History U.S.' storyboard would still jump to the Canadian version of tax thresholds.
▪SG Review Advance feature could truncate reallocation transactions under certain conditions.
•Update log for 2021.6.28 release
oNew/Updated Features - Happy Canada Day!
▪Added Canadian-specific versions of the following storyboards (these changes activate when culture setting is set to Canada.)
•Income Game
•Annuities 101
•Tax History
•Tax Thresholds
•Income Tax
•History of Inflation
▪Added S&P/TSX Composite Index to market history.
▪SG Cash Flows - added ability to fund payments for Outflow->Taxes type accounts.
▪Added Whiteboard option in desktop version "Popup" menu.
▪Refactored storyboard assignments within the presentation dashboard 10-step links.
▪Alphabetized storyboard list in presentation builder.
oBug Fixes.
▪Four question report did not display defined benefit cola percentage correctly.
•Update log for 2021.5.14 release
oNew/Updated Features
▪Added SG Reallocation option to pay taxes from lifestyle during a qualified plan conversion.
▪Added [Alt]+[d] keyboard shortcut to show/hide the drawing tools.
▪SG Loan account columns renamed: [Loan Principal Paydown] -> [Extra Principal Payments], [Loan Drawdown] -> [Loan/Draw]
oBug Fixes.
▪Fixed minor typos on screen sseol1 and ifr11 documentation
▪Four question report did not display "not" accessible account property correctly.
▪SG Account export to Excel would fail if the account name included special characters: * ? : \ / [ ]
▪Inctax1 taxes paid per bracket display logic failed on values within the top bracket
•Update log for 2021.4.30 release
oNew/Updated Features
▪Added settings option to edit the account benefit list used across several COW presentations. (Use this feature with caution. Changing the names on the list does not change how they are auto-highlighted.)
▪Added Canadian debt clock link to tax history screen.
▪CP Gateway one-page summary now supports direct access to each persons 'Statements Most Like ..." list by clicking on their name below the Your Strengths Chart.
▪Added a link the the Federal Tax Liability calculator on RRON screen 2.
▪Improved layout and highlighting in IFR storyboard.
▪Added [Taxable $ from Lifestyle C] to available SG Taxable account column list.
oBug Fixes.
▪Some referral map pins were not displaying where desired.
▪SG Tank View pdf report did not paginate correctly when an even number of risk tank rows were required.
▪Communication Profile engine did not allow email addresses with a plus sign.
▪IFR screen 2 would not allow editing of rate of return on Account 2 or Opportunity Cost.
▪Time and Money documentation still referenced DB instead of Lump Sum Requirement.
•Update log for 2021.4.9 release
oNew/Updated Features
▪Add new '4 Questions' Report to Retirement Ready or Not.
▪Modify RRON SG Head Start conversion to use RRON Life Expectancy for SG scenario Project To age.
▪Update PEM Standard of Living image to reference communications (phone) instead of travel (suitcase) expense.
▪Add documentation feature to Opportunity Cost of a single payment screen.
▪Annotation pen color and stroke width options persist between sessions.
▪Spending Game accounts have a new export to Excel option.
▪Add "show all" button to Legacy PRS screen 7 (Spender, Saver, Wealth Creator) to replicate prior framework functionality.
▪Improved support for MNL Accelerator & Protector pdf illustration importing.
oBug Fixes.
▪Debt 101 screen 3 animations were not working as desired.
▪College Planning screen 8 had a layout problem. (Windows desktop version only)
▪Added missing storyboards to 'All' group.
▪Added missing Finance Calculator to Canadian storyboard list.
▪Paste function on SG Annuity Surrender Factor column was not working.
•Update log for 2021.2.26 release
oNew/Updated Features
▪Worksheet export feature now generates formatted Excel documents (.xlsx) in both Spending Game and presentation storyboard documentation. (This supersedes the previous csv export file format.)
▪SG Note account column labels were updated to better clarify that funds were being received and not paid out.
▪SG 'Use Account Colors in Charts' setting is now a scenario property and is saved/restored with each scenario. There is also a new system setting to choose whether this feature should be turned on when a new scenario is created. In addition, when use Account Colors in charts is turned on for a scenario, the colors are applied whenever practical to do so - such as in the balances chart on the SG Dashboard and in account-specific charts within the Spendable Income, Model View, and Transferred Money Visualizations.
▪Major Wealth Transfers screen now includes links for Estate Tax (to Famous Estates) and Estate Planning (to Estate Planning) storyboards.
▪Time and Money changed label 'DB Requirement' to 'Lump Sum Requirement' in chart pop up.
▪PEM Screen help page now includes a link to download the PEM Link Layout support document.
oBug Fixes.
▪SG Tank View visualization pdf report was not working.
▪Fixed and updated the new member orientation visual guide.
▪Fixed a typo on Spender Saver Wealth Creator screen 3.
▪Importing legacy custom storyboards could potentially duplicate screen ids for imported screens - which would negatively affect editing the storyboard in the future.
▪Added Club vs. Swing screen thumbnail to the presentation builder list.
▪Corrected documentation column header labels in Compare Mortgages Legacy -> Difference in Tax Savings worksheet.
▪Tax History could display wrong percent increase value when returning from tax bracket link (under limited circumstances.)
▪Editing SG Risk Level year-by-year would show the wrong editor dialog.
•Update log for 2021.1.29 release
oNew/Updated Features
▪New Annuities 101 Storyboard - easy to learn and use presentation to introduce the features and benefits of annuities.
▪New Disability 101 Storyboard - easy to learn and use presentation to introduce the features and benefits of disability insurance.
▪New Estate Planning Storyboard - a new conversation to discuss the importance of product choices and strategies for minimizing losses and delays in the asset transfer process.
▪New Side-By-Side PEM visualization - use the powerful PEM screen to show account/position differences. This visual is included in:
•New Compare Forward Mortgages storyboard.
•New Compare Reverse to Forward Mortgage storyboard.
•RRON Screen 4 PEM comparison between Present and Revised positions.
•New Compare Account Types storyboard - a simple to implement presentation to quickly compare accounts and/or strategies utilizing the calculation power of Spending Game without the need to create scenarios.
▪New Time & Money Storyboard - easily communicate a prospect's current financial path compared with an ideal retirement strategy. Calculate the lump sum required to replace income and retirement cash flow if income stopped on any given year in the projection. Use intuitive sliders to display the effect of changing major assumptions.
▪Added Club vs. Swing Storyboard - a commonly requested presentation migration from the legacy version that helps you explain how a diversified collection of assets work together to support a client's circle of wealth.
▪New Mortgage Interest Only Storyboard - a comparison calculator similar to Mortgage Extra Payment, but with the ability to consider the additional cash flow available using an interest only loan.
▪New SG Visualizations
•Transferred Money - This feature heralds the return of Wealth Transfers, Opportunity Costs, and Transferred Dollars calculations and reporting to spending game scenarios.
•Tank View - 'Splits Out' the individual accounts within the risk and safe tanks so that one can better visualize the year-by-year usage, performance, and interactions between them.
▪New Remaining Income Potential calculator - quickly and easily determine the present and future value of a collection of disparate income streams. Immediately show the effect of losing one or more of the income sources.
▪New Resource Center feature - purpose built to help you find like-minded professionals in other complementary industries in your area and build mutually beneficial referral relationships.
oTweaks.
▪Added search term 2021 to all new or updated storyboards so they can be easily identified in the presentation dashboard.
▪Added drawing capability to popup tools in desktop versions. Desktop popup tools also remain 'on top' of other windows (a common member feedback request.)
▪Added 'SG Head Start' button to screen 2 and 4 of Retirement Ready or Not. Clicking this button will create a Spending Game 'Present Position' based on the data entered during the RRON presentation.
▪TVM calculator renamed TVM+ because it now includes access to Inflation History and Life Expectancy calculators.
▪Added left-side slider to Borrowed Funds tank in PEM which allows you to show uncollateralized debt along side an existing mortgage. This feature also includes the automation of cash flow changes to streamline the debt refinance conversation.
▪Updated PEM disability protection icon to link to the new Disability 101 storyboard.
▪Added support for .gif (animated images) in presentation builder / custom presentations.
▪Added .pdf file data import feature for a limited number of annuity and pli products.
▪Added 'Enforce RMD' account-level UI for SG Annuity account.
▪Reverse Mortgage 101 - added Line of Credit visual to borrowed funds tank and minor bullet point changes.
▪Policy Loans for Investments - added a fifth bullet point.
▪Mortgage Extra Payments - added reset button to last step to quickly return the calculator to its initial state. This feature was also added to Mortgage How Long and Mortgage Down Payments as well.
▪Tax History - added link to Government Intervention storyboard from 'IRS Share' label.
▪Added csv export option to documentation worksheets.
▪Income Tax - added per-bracket breakdown of taxable income result.
▪Added highlighting to editable columns in SG column control panels.
▪Added 'scale' slider to RRON screen 3 PEM view.
•Update log for 2020.10.31 release
oNew/Updated Features
▪Migrated legacy QP Company Match calculator.
▪Migrated legacy Roth Conversion storyboard.
▪RRON screen 4 adjusted percent lifestyle adjustment calculation when both work longer and spend less are active. Also added headings to Present and Revised documentation worksheets.
▪Upgraded bullets to vector graphics for better resolution and ability to match theme colors.
▪Upgraded graphic resolution in Understanding Policy Loans screen.
▪Contact list now displays in alphabetical order by default.
▪Database will attempt to sync when members select logout from the menu.
▪Recent list item count increased to 10 item.
▪SG added Taxes on All WD C to column chooser list.
▪SG now shows annuity income in LCP tank when WD as Inflow option is selected.
▪SG added interpolation option to PLI account columns.
▪SG updated color palette in model view to better match SGv3.
▪SG supports legacy illustration xml-format import.
oBug Fixes.
▪RRON screen 2 iOS UI change to address data entry issues with popup lists.
▪Fixed issue loading software in Safari browser.
▪MacOS suffered from inconsistent paste formatting when pasting from pdf documents. Added additional logic to compensate for this.
▪Updated 10ML 101 benefit list to match other implementations (Safe vs Safe Barbour.)
▪Fixed typo in PLI Expense Example heading.
▪Fixed formatting issue in property income estimator popup.
▪Fixed SG PEM Visualization report shading when contributions were greater than income.
▪SG TDBT account was not populating calculated values for TaxEffect C, TaxEffect PV, and TaxEffect CPV columns.
▪SG did not respect 'percentage' value when performing Reallocate->Fund Contribution from an asset to a property account.
•Update log for 2020.7.3 release
oBug Fixes.
▪Refactored how & which startup settings are cached locally. This should resolve logout/login issues between different users sharing a common computer. PLEASE NOTE: An artifact of this change is that previously cached recent lists will be empty (because they are now saved and tied to your specific login.) This is a one-time migration that should have minimal impact on usability.
▪RIA3 [#'s] button did not work properly in a custom storyboard.
▪Education Fund estimator result text box would overflow if a 'negative years' result was triggered.
▪SG property sale wizard UI functionality improved to better match SGv3. Corrected auto note to use net distribution value when generating the sale notes for reallocated funds.
▪Fixed an issue that caused an (incorrect) insufficient reallocated funds warning in rare circumstances.
•Update log for 2020.6.12 release
oNew / Updated Features
▪Added the ability to clone custom storyboards in Presentation Builder.
▪Added the ability to Present custom storyboards directly from the Presentation Builder list.
▪Updated reporting logic to suggest more descriptive names when saving pdf reports or csv export files.
▪Updated SG Cash Flows column logic to persist non-account column locations at the scenario level (similar to how SGv3 did it.)
▪Added ability to paste E.O.Y. values into SG Annuity accounts and automatically calculate and adjust the rate of return to match the results.
▪Updated SG Annuity logic to support qualified -> qualified tax exempt reallocations.
oBug Fixes.
▪SG assets marked as M.P. tank accounts did not appear in the House/M.P. tank balance.
▪Updated the 10-step script library link in resources.
▪Updated help link for evac1 screen.
▪Fixed typo on Needs vs. Wants 101 screen 4.
•Update log for 2020.5.12 release
oNew / Updated Features
▪Added Presentation Builder and Spending Game Scenarios to Dashboard recent lists.
▪You can now select which categories of data you wish to export with a contact.
▪Removed the 'Edit' button from Presentation Builder custom presentation list. Clicking a custom presentation now selects it for editing.
oBug Fixes.
▪Presentation Dashboard would display wrong presentation group when searching.
▪SG PEM VIsualization now center justifies long account names when they are displayed in tanks.
▪SG Spendable Income Visualization - fixed edge case where negative accounts were not being displayed in the chart.
▪SG Cash Flows table allowed 'Paste with Comment' during withdrawal, but did not correctly associate the note with the underlying account withdrawal column.
▪SG Outflow account configured as tax now affects spendable income when deductible.
•Update log for 2020.4.19 release
oNew / Updated Features
▪Inflation Adjusted Buying Power added.
▪Inflation Adjusted Payments added.
▪Drop-down caret icon color changed to white in header areas for increased visibility.
▪Reverse Mortgage 101 screen 2minor changes to bullet points.
▪Sequence Risk screen 3 added first year withdrawal and average return to top of screen.
oBug Fixes.
▪Sidebar Ledger Item feature was not working properly.
▪SG Asset Class list honors order in settings.
•Update log for 2020.4.13 release
oBug Fix.
▪SG RMDs did not immediately recalculate/reapply when changing account ownership.
•Update log for 2020.4.10 release
oNew / Updated Features
▪Circle Talk 3 for Business Owners storyboard added.
▪RRON3 for Business Owners storyboard added.
▪Operating Efficiency storyboard added.
▪Contact Ledger (formally cashflow worksheet in legacy desktop) added.
▪SG Outflow accounts marked as Taxes are now allowed to be deductible and generate a tax effect.
oBug Fixes.
▪SG corrected 'Row' column formatting in reports.
▪SG Cash flow reconciliation will add loan accounts to the list if any year has a credit line available.
▪SG corrected cause of 'undefined' being added to scenario notes area. (You'll still need to delete the word undefined if it already exists.)
•Update log for 2020.3.27 release
oNew / Updated Features
▪SG Annuity account includes a feature to show withdrawals as inflows to the PEM model and reports. This can be activated at the account level and/or adjusted year-by-year.
▪SG Net Worth by Account report added.
▪SG Taxable and Property account Estate Values include step-up in basis (USA Culture only.)
▪SG Added 'Row' number column to all account and cash flow tables. It is hidden by default. You'll need to pull it from the column chooser if you want to see it.
▪SG Spendable Income pie chart rollovers now display both percentage and amounts for each wedge.
▪Return on Investment documentation refactored to use the reporting engine. (Making it printable.)
▪Tax History screen added a link to income tax calculator which is intended to calculate and return current effective tax rate. This info is then used to compare the client's current rate to the average rate (or any selected) change in tax rates.
oBug Fixes.
▪Safe account benefits narrow screen formatting corrected.
▪SG Asset Class visualization in Estate Value mode did not show Term death benefit. It is now expressed as an asset class of 'Term Insurance'.
▪SG Importing a SGv3 file with no future value items failed.
▪SG Adding cell notes did not enable the save feature.
▪SG Importing a SGv3 file with single quotes in cell notes left html entities for the quote symbol in the scenario note. When exporting the scenario back out to SGv3, this artifact would make the SGv3 import fail.
•Update log for 2020.3.11 release
oNew / Updated Features
▪SG Assets, Liabilities and Outflows reports added.
▪SG Itemized Expenses report no longer lists outflow accounts configured as taxes.
▪SG Spendable Income & Asset Class bar charts use the same scale in comparison mode.
▪SG Spendable Income & Asset Class bar charts use the same account colors in comparison mode.
▪SG Spendable Income & Asset Class pie chart colors for taxation and source are now configurable in settings.
▪SG Spendable Income & Asset Class pie chart fonts for taxation and source are larger and easier to read.
oBug Fixes.
▪SG worksheet printed report columns would overflow the page under certain circumstances.
•Update log for 2020.2.27 release
oNew / Updated Features
▪SG Presentation Builder honors storyboard-specific features on screens that have multiple functionality.
▪SG Presentation Builder added thumbnail images for new 2020 screens.
▪SG Outflow account now has a 'Deductible' option.
▪SG default lists have been updated to reflect current best practices.
▪SG Cashflows now has an export (to csv) feature.
▪SG csv exports now include a disclosure in the final row.
▪Added Tax History to the desktop popup menu.
▪Added documentation link and report for TVM calculator.
▪Documentation worksheet dialog now uses print engine for reports.
oBug Fixes.
▪NextGen import of SGv3 files now fails gracefully (and provides an error message) when importing case files with apostrophes in reallocation account names. File conversion cannot properly deal with reallocation account names with special characters (apostrophe being one of them.) NextGen will issue a warning that the reallocation was ignored when this happens. To solve the issue, open the case file in SGv3 and change the account name - removing the apostrophe (or special character) and save the case again. NextGen should then have no problem importing the case file.
•Update log for 2020.2.28 release
oNew / Updated Features
▪We figured out a way to successfully import SGv3 files with apostrophes in the account names.
oBug Fixes.
▪SG import of SGv3 files with too many reallocation transaction rows would fail (an unusual, but possible situation.)
▪SG RMD calculations started one year early if account owned by spouse.
▪SG inadvertently stripped negative sign from pasted values.
•Update log for 2020.2.27 release
oNew / Updated Features
▪SG Presentation Builder honors storyboard-specific features on screens that have multiple functionality.
▪SG Presentation Builder added thumbnail images for new 2020 screens.
▪SG Outflow account now has a 'Deductible' option.
▪SG default lists have been updated to reflect current best practices.
▪SG Cashflows now has an export (to csv) feature.
▪SG csv exports now include a disclosure in the final row.
▪Added Tax History to the desktop popup menu.
▪Added documentation link and report for TVM calculator.
▪Documentation worksheet dialog now uses print engine for reports.
oBug Fixes.
▪NextGen import of SGv3 files now fails gracefully (and provides an error message) when importing case files with apostrophes in reallocation account names. File conversion cannot properly deal with reallocation account names with special characters (apostrophe being one of them.) NextGen will issue a warning that the reallocation was ignored when this happens. To solve the issue, open the case file in SGv3 and change the account name - removing the apostrophe (or special character) and save the case again. NextGen should then have no problem importing the case file.
•Update log for 2020.2.21 release
oNew / Updated Features
▪SG Cash Flows - Several HUGE enhancements to reconciliation sidebar:
•1st year value if left at zero means don't overwrite or change the existing Desired Lifestyle Funding values. This allows you to set any series of values in the Desired Lifestyle Funding column and the system will solve using those values. However, if you enter a number other than zero for 1st year value, it will be applied as normal. Also, the 1st year value applies to the Start Age year, as discussed next.
•New Start Age and End Age feature allows you to solve time frames differently (like accumulation, distribution, college funding years, major purchases, etc.)
•Step 2 and Step 3 settings are saved with the scenario, so they will persist between screens and (if the scenario is saved) will be shown the next time you use the scenario.
•1st year value, Start Age and End Age persist through the active session (so you can change screens or scenarios and they will remain the same.)
•Loan accounts with a Credit Line > 0 now appear as a withdrawal account for Step 3 and can be used to fund desired lifestyle (up to the credit line limit.)
▪SG Loan accounts now cap Loan Drawdown requests such that Balance BOY is not allowed to exceed the Credit Line.
▪SG Visualizations comparison scenario 'Close' button was changed to make it more obvious/intuitive how to clear the comparison scenario.
▪Added missing help file for contact data tab.
▪Government Intervention screen added SECURE Act of 2019.
▪PRS screen 1 added steps to reveal bullet points 2 & 3. Animation begins with bullet point 2 and remains through point 3.
▪PRS screen 5 darkened the selected benefits for better contrast.
oBug Fixes
▪Income Tax screen displayed bracket 7 (37%) for both bracket 6 & 7 (35% & 37%.) This was simply a display typo and did not affect any underlying calculation.
▪Mortgage Master screen 13 displayed the wrong variable in a text description.
▪SG scenario export would fail if an asset class was empty/null. SG import has improved support for special entities like & sign.
▪SG Note account type wrongly displayed a negative value on the Initial Values report.
▪Presentation Builder source screen area did not utilize all available space.
•Update log for 2020.2.13 release
oNew / Updated Features
▪SG Visualizations - restricted entry of additional summary values to one at a time (otherwise wacky things happened.) Added a separation line between summary values and the main visual. Added a new button to reset the summary values to your settings default list.
oBug Fixes
▪SG Cash Flows column Desired Lifestyle Funding would clear contributions to first account if you pressed the 'Reset Contributions to 0' button.
▪SG TDBT reallocations to taxable accounts were inadvertently zeroing out reallocation taxes due.
▪Jump storyboards were appearing in the recent presentation list.
▪PRS screen 1 did not scale the PEM visual correctly in the desktop version.
•Update log for 2020.2.4 release
oNew / Updated Features
▪SG Tank scale option added to top bar of PEM Visualization.
▪SG Accounts, Cash Flows and Reports table now highlight the table row on double-click.
▪SG Cash Flows reconciliation step 1 populates with the most recently used first year target value (or zero at the beginning of a session.) The calculated first year actual lifestyle value is displayed below for reference and can be clicked to be used as the 1st year target.
▪SG Cash Flows reconciliation step 2 added an option to 'Reset contributions to 0' before the solution is calculated.
▪Contact list privacy selection changes are now maintained throughout the session. (The 'Enhance Privacy' selection in Settings determines the privacy state when the session starts.)
▪Contact Export and Delete options were moved the foreground of the contact detail screen.
▪Ten Steps Launchpad includes and updated Spending Game link.
oBug Fixes
▪SG Visualization summary values list were showing blank selections.
▪SG RMDs were starting a year late.
▪QuickNote allowed 'empty' notes to be created - disabling the associated contact report because of a formatting error.
•Update log for 2020.1.30 release
oNew / Updated Features
▪SG implemented undo/redo/save feature when adding or deleting accounts.
▪SG PEM Visualization tank account order matches accounts sidebar order.
▪IFR screen 1 minor text and formatting update.
▪Income Tax screen 1 on-screen tax brackets adjust to match selected filing status.
oBug Fixes
▪RRON screen 4 iterative solutions were not running to completion.
▪SG was not switching life expectancy tables to match account ownership selection.
▪SG property sale wizard had issue with cap gains calculation and currency formatting.
•Update log for 2020.1.24 release
oNew Spending Game Feature
▪Spending Game is updated, simplified and fully integrated into the Circle of Wealth platform.
▪Scenarios (SGv3 'Case Files') are associated with contacts and synchronize between devices.
▪Import/export between legacy SGv3 and the Circle of Wealth platform is fully supported.
▪New Cash Flow Reconciliation view integrates the best features of the SGv3 Find-It and Solve-It summaries.
▪New Visualizations section hosts the popular PEM & Model Views as well as all new Spendable Income, Asset Classs and Asset Allocation views.
▪New Reports section provides an intuitive way to view, print and export the entire list of available summary reports.
oPrivate Reserve Strategy revised and streamlined
▪This is now a six-screen conceptual storyboard that cleanly and simply explains the advantages of building and maintaining collateral capacity.
▪Foundational concepts, if needed but not previously explained, are available as links where appropriate.
oNew Spender, Saver Wealth Creator storyboard
▪This new four-screen storyboard provides easy-to-follow talking points to the original spender, saver, wealth creator screen. It then takes the concept further by presenting each purchasing strategy with an animated PEM visualization.
oRevised/New Policy Loan Storyboards
▪'Access to Capital 101' storyboard was renamed 'Understanding Policy Loans 101' and includes an updated screen layout.
▪'Policy Loans for Purchases' replaces and updates the prior 'Things to Know for Major Capital Purchases' storyboard.
▪'Policy Loans for Investments' replaces and updates the prior 'Things to Know for Investment Opportunities' storyboard.
oAdditional Updates
▪Spending Game & Legacy SGv3 added 'Reset to 0' to contributions wizard.
▪Added additional search keywords to help find relevant storyboards.
▪Annotation/Drawing tools are now always available for use.
▪Dashboard layouts standardized for visual consistency.
•Update log for 2019.10.15 release
oAdded: Ability to relabel house tank to MCP Funds (Major Capital Purchases Funds) by clicking on the top tank label. You can also change the name within the tank by clicking on it and typing.
oModified: Clicking PEM Qualified Plans tube exit elbow will hide/show tube.
oAdded: Additional search keywords for 10-minute lesson on life insurance.
oModified: PEM changed 'Lifestyle' to 'Current Lifestyle' outflow tube.
oBugfix: Corrected wording in RRON summary report.
oBugfix: RRON screen 2 -fixed data entry issue with life expectancy and reverse mortgage popups in edge case scenarios.
•Update log for 2019.9.4 release
oAdded: Canadian changes to Registered Plans, Registered Plans 101, 10-Min Lesson on LI and Mortgage Master. We even added a handsome maple leaf to the main dashboard to indicate Canadian modification are active.
oAdded: Ability to 'Quick Add' a contact using the right sidebar.
oAdded: Member conference link to dashboard.
oModified: Activating a contact adds them to the recent contact list.
oModified: Presentation builder custom image preview updated to better match presentation screen format and clipping.
oModified: PRS15 removed highlighting of collateral opportunity for 401k.
oModified: Settings framework to honor prior custom settings when logging in to a new instance for the first time.
oBugfix: MM11 tax rate did not sync with other screens.
oBugfix: Fixed typos on PRS1
•Update log for 2019.7.22 release
oAdded: Mortgage Master changes to screen MM6 & MM17 for Canadian members.
oAdded: 10 open-ended questions doc to training scripts resources list.
oAdded: Finance calculator.
oModified: PEM display to represent cash flow moving up Future Lifestyle tube.
oModified: Drawing tool text now conforms to currently selected color.
oModified: Top-bar active contact link navigates to contact data tab.
oModified: Added 'college' keyword to Education Fund Estimator.
oModified: Presentation Builder to allow the same image to be used multiple times in a storyboard (as well as being uploaded multiple times.).
oBugfix: RRON2 defined benefits dialog box would not close after clicking save if nothing was modified.
oBugfix: RRON2 inflate savings did not persist selection.
oModified: RRON3 changed annual income in LCP tank color to green to match outflow color.
oModified: RRON3 layout to better accommodate optional PEM elements.
oBugfix: RRON3 would intermittently display old/default values if RRON2 data entry did not have enough time to save its changes.
oBugfix: RRON4 was difficult to hide documentation dialog at certain screen dimensions.
oBugfix: Mortgage Master T/F questions did not reset after changing active contact.
oBugfix: 10 Min lesson help link was not working. Help links with upper-case letters were not working.
oBugfix: HM3 coverage requirement was not displaying correct value.
oBugfix: Fixed typos on MM10, F3, F4, PRS15.
oSGv3: Refactored all accumulating Present Value numbers to be compatible with Net Present Value. All accounts now provide Spendable Income Present Value (and Cumulative.) Added NPV Spendable Income Summary.
oSGv3: Column 'Taxes on All WD' renamed to 'Taxes on WD' to address ambiguity with 'Potential Taxes if All WD'.
oMacOS: updated desktop shell to address an intermittent issue a member was having.
•Update log for 2019.5.16 release
oAdded: Feature to import contact and case data from legacy cow.
oAdded: Feature to import contacts via csv file from CRM or other sources.
oAdded: Contact data tab to view and modify commonly used values.
oAdded: TVM, Market History and Income Tax popup calculators to desktop version (accessible through new 'Popup' menu in menubar). PEM popup was relocated under the popup menu as well.
oAdded: '10 Questions' and '10Q' keywords to 10-step launchpad.
oUpdated: Link to 1040 tax tables to final IRS publication.
oModified: RRON data entry screen to remove deprecated 'Client Name' field. We then used the additional space to move the Accumulated $ field to it's own row.
oModified: Contact dashboard UI to use toggle button to select/deselect the active contact.
oModified: Contact report to include time in the activity list.
oModified: References to 'Case' were changed to 'Contact' (as in setting Active Contact.)
oBugfix: TVM calculator did not work properly in iOS or Safari browser. Also fixed layout issues for 10-key calculator in narrow screen format and added support for the numeric keypad while we were there.
oBugfix: Corrected typo in RRON Summary report. Also corrected intermittent timing issue when modifying defined benefits on RRON screen 4.
oBugfix: Corrected visual issue in PEM social security scenario when LCP tank is hidden.
•Update log for 2019.4.2 release
oAdded: Orientation tour on first-time usage.
oModified: Custom image sync logic to enhance success and provide friendlier notification of errors.
oModified: Presentation builder swapped locations of custom storyboard list and builder sections to match layout of other feature areas.
oModified: Several screens to better match expected design patterns.
oBugfix: Presentation builder would not complete legacy storyboard import if it contained a deprecated screen.
oBugfix: PRS screen 16 expense button link not working.
•Update log for 2019.3.25 release
oAdded: Member and support website links to right side-panel.
oModified: Resource block names and location to make them more intuitive.
oModified: Sequence risk summary reports refactored to pdf reports, shuffle arrows now indicate link action, added year to best/worst-year results on screen 3.
oModified: Market History SP500TR participation limits with dividends calculation.
oBugfix: Credit cards screen 1 had wrong wedge label.
•Update log for 2019.3.13 release
oAdded: Ability for Moneytrax to provide NextGen software trial subscriptions.
oBugfix: Fixed typo in opportunity cost screen 2 result text.
•Update log for 2019.3.9 release
oAdded: PRS Expense Example (Collateralization vs Pay Cash Strategy) storyboard.
oAdded: Custom storyboard export feature.
oModified: Renamed presentation builder 'Reset' button to 'Clear'.
oModified: Changed to hash-based navigation strategy to overcome some Safari browser 'quirks'.
oModified: Added subtle link indication to jump hotspot (lower right-hand corner of presenter screen, where the navigation position is.)
oBugfix: Understanding Policy Loans narrow layout corrected.
•Update log for 2019.3.1 release
oAdded: Structured Income Streams, Social Security - Early or Late? storyboards.
oAdded: Data entry for both screen and print disclosures added to Settings area.
oModified: Disclosure screen. It now responds better to lengthy disclosure statements.
oModified: Settings screen layout is now responsive to screen size and makes use of extra width when available.
oBugfix: Trading Cars data entry field was not working properly.
•Update log for 2019.2.22 release
oAdded: 401(condo), Distribution Solution storyboards.
oModified: Improved precision of Market History $1 actual return calculation so that result scaled properly to real-world values.
oBugfix: RRON Future Assets were causing a calculation error. Sequence Risk Total Assets data entry field was not working properly.
•Update log for 2019.2.18 release
oEnhanced: Custom image import feature as follows:
▪Open image dialog allows selection of multiple files (so you can import an entire group of images at once.
▪Screen preview includes an outline indicating how the custom image will display in both wide and narrow-screen formats.
▪Custom images now stretch to fill the height of the screen display area without compromising the image aspect ratio. Images that are too wide to fit are cropped. Images too narrow are surrounded by the screen background.
•Update log for 2019.2.16 release
oBugfix: Custom storyboard import failed to complete when import file did not include custom images.
oBugfix: Undo/Redo feature of drawing tool had issues with hi-dpi displays.
•2019.2.15 Initial Release
oNew Version Number Protocol
▪Version numbers now indicate the release date (2019.2.15 = Feb 15th 2019).
oPEM - Upgrades:
▪We continue to make enhancements to the capabilities of the Personal Economic Model as described below:
•The house tank has a new slider on the left side to set a marker to indicate a significant level. It is primarily intended as a reference level for initial value/purchase price, but can be used to mark anything relevant to the conversation. As an added accelerator, when you double-click the right slider handle, the reference level will be set to that same height (making it very quick and easy to set the reference level to your initial house value.)
•Several links were updated to jump to new or revised storyboards.
•Standard of Living House, Auto and College links will use the newly revised 4-screen Finance 101 storyboard as the linked calculator.
•Protection House links to a new Protection - Homeowners Insurance storyboard.
•Protection Life links to a new Protection - Term Insurance storyboard.
•The Safe Tank, Permanent Insurance protection shield links to the newly revised Permanent Life Insurance 101 storyboard (formally TLSC.)
o101 Series Presentations
▪There are several updates and additions to the 101 style presentation as follows:
▪Finance 101
▪Has been updated to give more direction and clarity to the story. The presentation adds three additional screens that set up the story and provide a closing summary. The prior calculator screen (now screen 3 of the storyboard) also includes talking points as you step through the animations.
▪Qualified Plans 101
•This presentation has several updated bullet points as well as animated highlighting on the final 'Things to Consider' screen.
▪Permanent Life Insurance 101
▪A new Permanent Life Insurance 101 storyboard was created out of the prior version TLS Compact storyboard. The third question was changed to 'How about access to capital?' and a checkbox was added which toggles between using 101 style presentations or using the prior version unscripted presentations. When in the default 101 mode, new 101-style presentations are used for Needs vs Wants, 10 Min. Lesson on Life Insurance and Access to Capital.
▪Needs vs Wants 101
•A six-screen presentation to address the 'How Much Coverage?' question on life insurance. It includes new prompted versions of popular screens and simplified wording for calculated results.
▪10 Min. Lesson 101
•This presentation was revised to prompt the entire storyline or order to help new (as well as seasoned) Circle of Wealth members excel at this powerful presentation quickly and easily.
▪Access to Capital 101
•A three-screen presentation that conveys the benefits and considerations related to policy loans.
o10-Steps Launchpad
▪This screen was updated for 2019 to include linked reference material for each step of the Circle of Wealth process. Click the 'Show Documentation' checkbox to enable links to internet-hosted resource materials.
oHow Much Coverage calculator
▪This calculator uses industry guidelines to provide an estimate of average maximum coverage attainable to the client or prospect.
oThree new Mortgages Presentations
▪We've added three new space-bar-simple animated presentations to answer the following mortgage related questions:
•Mortgage Extra Payments
•Mortgage Down Payment
•Mortgages How Long to Finance
oCommunication Profiles Presentation
▪The CP Gateway includes access to a new six-screen storyboard to help discuss the communication profile results of your clients and how this information can be utilized to enhance communication, understanding and rapport. Elements of this presentation are dynamically generated based on the profile scoring of the selected respondents.
oAdditional updates:
▪How Long Will Proceeds Last calculator results were simplified.
▪Annual updates to stock market returns. (as available at this time.)
▪Spending Game adds access to Canadian RMD calculations when it's culture setting is 'Canada.'