inStream's ease of use and simplicity is where it stands out from its competitors. With each update, we strive to make a product that increasingly becomes more user friendly. After this article, you will know how to navigate inStream confidently and jump right into the plan creation tools.
The fundamentals of inStream consist of: 1. Creating Clients and 2. Creating Plans (Scenarios) for those Clients
1. Creating Clients:
There are two ways of creating clients in inStream. Each module achieves the same objective, it really does not really matter which you choose. The first being + Add a Client, this is our standard way of creating a client, however last year we created a more intuitive UI for client creation called + Add a Prospect which also includes a Fact Finder to send to your client.
Click here to learn more about Fact Finder.
2. Creating Plans (Scenarios) for Clients:
After you have created a client, the only sub-tabs you need to learn to navigate are: Profile, Plans, and Portfolios. These three sub-tabs are all you need to create different plans and scenarios for your client. Once you can quickly navigate and use Profile, Plans, and Portfolios, you have mastered the software!
Master the Software: Navigating between Profile, Plans, and Portfolios
The first thing you need to know is that not all sections of the Profile are used in the Plan calculation and analysis. Below is a breakdown to help you understand which sections are included and which sections are not:
Included in the Plan calculation to generate the probability of success: Income, Accounts, Goals and Taxes
Included in the Net Worth Statement Only: Insurance, Properties, and Liabilities (Accounts are also included)
The Plans tab is where you will put together client plans and test different scenarios. This is the central hub that can bring data from Profile (Income, Accounts, Goals and Taxes) and Portfolios into your client's plans.
Creating a Plan is as simple as selecting + Create New Plan and completing the wizard.
TIP 1: After a plan has been created, to quickly create a new scenario select Copy Plan
TIP 2: Use Compare Plans to create and compare multiple scenarios at the same time
Portfolios tab is where you can upload your client's existing or proposed portfolios, which can be used in Plans to generate the simulated net return. Please note that Portfolios and Accounts are not the same thing and serve two different functions: Portfolios are used to generate the simulated net returns (ie. the rate of return and standard deviation) of the plan; and Accounts specify the account type (eg. IRA, 401k, etc) and the current value of the asset (eg. $250,000). You have the option to attribute a Portfolio (rate of return and standard deviation) to all Accounts, or to a specific Account in a plan.
Click here to learn how to apply a Portfolio to all accounts.
Click here to learn how to apply Portfolios to specific accounts.
1. Create a client > then after your client Profile has been created;
2. Learn how to navigate between Profile, Plans, and Portfolios.