The Basics
Definition of a Target-Map
A Target-Map describes the current funding level of a goal or project by comparing the present value of funding desires (What you want) with the present value of funding sources (What you have). A Target-Map displays the difference between the two in today's dollars. This provides a path for the advisor to generate an effective conversation about various funding priorities and to provide solutions or optimizations.
Quick list of Target-Map Features
Displays clarity of financial goals for the client on the Target-Map's What it means page.
Investable asset rates of returns are blended into one Expected Net Rate of Return making reports succinct and easily consumable.
Clones: run financial scenarios of a plan.
Target-Maps generated can be edited and refined by the advisor as needs change over time.
Target-Maps are time sensitive and respond automatically to the current date.
Target-Map funding changes automatically as updates are made to the Asset-Map.
Optionally printable Notes can be maintained with a Target-Map.
Cash Flow Details displays a January 1 to December 31 translation of the year-to-year cash flow implications.
Target-Map Types
Definition of a Target-Map Template
Preset funding goals and automatic funding sources
Target-Map Templates are provided to quickly generate a high level visual of the funding for five priority funding goals: Loss of Life, Long Term Disability, Long Term Care, Retirement, and Dependent Education. They are governed by Target-Map Preferences. These types of Target-Maps provide funding desire line items and automatically assess the client's Asset-Map and apply related funding sources.
Definition of a Custom Target-Map
User defined funding goals and user defined funding sources
A Custom Target-Map uses some Target-Map Preferences to provide the framework for the advisor to define funding desires (What you want) and funding sources (What you have). Custom Target-Maps cannot be saved for later use.
Definition of a Custom Target-Map Template
Preset funding goals and user defined funding sources
A Custom Target-Map Template is an advisor-created Target-Map template that is saved within the advisor's account. A Custom Target-Map Template evolves from a custom Target-Map or from one of the five Target-Map templates provided by Asset-Map Platform from which the advisor wishes to retain their What you want edits (funding goals) to use with other Households.
Keep in mind that Custom Target-Map Templates provide the ability to save edits to the What you want side of the Target-Map equation for repeated use with other households. Unlike the five Target-Map Templates described above, there is no automatic search and application of funding sources.
Target-Map Support Resource Links
Support Resource | Description |
Table of Contents Links list to Target-Map Resources | |
Training webinars (Target-Maps and others!) | |
Weekly group training |
1/2024