User Manual
Contents
1. 182. You can choose to print these documents manually by holding Ctrl P on your keyboard This method however cannot guarantee that the page layout and print margins are ideal The Ledger Page The Ledger page is a collection of data from every year of the analysis This section is not designed to be client friendly as it contains a large amount of data Use the Ledger page when looking for more detailed information or to verify where a value originates Navigation Navigation throughout the Ledger is done using the vertical and horizontal scroll bars in The Razor window For organizational purposes the Ledger has been separated into 4 levels of headings Main Heading Sub Heading Category Heading and Colum Heading In addition to the 4 headings the ledger page also highlights 3 key years Retirement Client A Life Expectancy and Client B Life Expectancy 15 Main Heading pli ie ee r lariai i E FETI i pa Category Heading Column Heading H Retirement Client A Life Expectancy Printing The Ledger pages were not designed as printable reports due to their size and complexity You can choose to print these documents manually by holding Ctrl P on your keyboard This method however cannot guarantee that the page layout and print margins are ideal The Report Financial Opportunity Analysis The Financial Opportunity Analysis report is the completed financial analysis It consists of 9 repor
3. the Resource Center THER AYH OR med O NT bere Pa Lo E a1 E cows The Resource Center This area of the About screen is regularly updated with useful links such as Online Tutorials The Razor Glossary and Sample Reports Access any of these areas by clicking directly on their icons Resource Center Getting Started Tutorial The Razor Glossary Sample Reports Data Entry Wizard The Data Entry Wizard is a client friendly data entry process composed of 6 Steps covering 24 questions Each question focuses on an individual aspect of client data and includes a quick description of the required data THERAZOR Conhdential Chent Questionnaire Pe PP Navigation To navigate through the Data Entry Wizard use the Next and Back buttons located on the left hand side of the Wizard screen The buttons will take you through each of the 6 steps and 24 questions To jump to a specific planning step select it from the left hand side of the Wizard screen Navigate between the questions of a step by selecting any of the tabs across the top of the Wizard screen These tabs will change depending on the step you are currently viewing 10 Personal Information Step 2 Sources of Income Step 3 Personal Assets Entering Data Data Fields To enter client data type directly into any highlighted field To avoid possible Value errors be sure the data entered reflects the format o
4. Save Print Report File Click the New Client button to start a new client file The Open button allows you to open a previously saved client file Click Save to save the currently open client file Print Report will print all selected documents from the Client Report Financial Opportunity Analysis View Menu agoe Wizard Data Chart Ledger Report View The Wizard button will take you to the Data Entry Wizard The Data button will take you to the regular Data Entry Screen The Chart button will take you to the Financial Planning Analysis screen The Ledger button will take you to the razor Ledger Page The Report button will take you to the Client Report Financial Opportunity Analysis Miscellaneous Menu Eb Calculate Exit About Misc Click Calculate to update the financial analysis after entering or changing client data To exit The Razor click the Exit button The About button will take you The Razor About screen and Resource Center File Management File Management is controlled through the 4 buttons in the File menu of the Ribbon New Open Save and Print Report Starting a New Client File There are two ways to start a new client file by selecting New from the Ribbon or by clicking Start a New Planning Analysis from the About screen Once selected the software will prompt you to save t
5. THERAZOFR _ SPEED LOGIC SIMPLICITY User Manual FPAdvantage Aug 26 2011 Contents ee 3 NIVE AN OU sea ers E a pees sot ashen cic nrs ie oct oe a rscte sing esol sang aida cea diate E us olea t E E E bee dna tcteuan eaetioa A E en ante veeeeane an 3 The Razor Ribbon CONtKOIS cc ceecccccccssseecececeneseeeeeeseeeeeeeeeaeeeeeeeeseeeeeeeeeseeeseeeeeeseeeseeeeesaeeeeeeeeeaeaeseeeesseasseeees sesuauuseseeseaaaassess 4 4 4 Miscellaneous Nenu eener eee ee ee ner re eee et eee ners re ee ee ee ee eee 5 Se EL 5 Ne a NEWN CENE HG 5 OEMS Saved le 6 SU I I EIE merianae ine iene cients acter nc snes seins EEE E E EE S E 6 EDIT 7 DENI actin eects se serpin ere cc ete itt ciate ti nelly cece ci pctchotgr cate prclet cet stra cai cit ac os seca et eae ct cieeute weet sais coin cee Gh nepec wea eeee eet 7 Cren OS STON E eae te neen E cane saeteccnncevacesneyeseissedectnaciuas aes se E EE EE E E E E E 7 PanA SUNDIO een E EA EE E E E EE AEE EEEE EATE 8 SET 8 TE ADOUCIR 8 Baa EVM WA UZ O E E A E A T EEE 10 Toe DEIET OE EE EEE E EEEE EEA E 12 The Chart Screen Financial Planning Analysis Nt 13 Wie OOS P EE a E cautece odeaanteasonesaiueosenscesuaneee 15 The Report Financial Opportunity Analysis es sesesseesenssssrenssrrrrssrrresrrerssssrressreroseresssreressrterssrereserersseeresereresseereserereseeee 16 About The Razor The Razor utilizes a Whole Wealth approach to financial planning that
6. Tax Efficiency Tax Efficiency is a concept that is applied to non registered investments and represents the portion of investment income that is taxable This concept is easily demonstrated when applied to the 3 main types of investment income e Interest Income which is fully taxable when earned is 0 tax efficient e Capital Gains which are 50 taxable when realized are a minimum of 50 tax efficient e Dividends earned personally are approximately 30 tax efficient depending upon the province There are 2 stages of Tax Efficiency to account for Accumulation now till retirement and Retirement from retirement on Human Capital Human Capital is a concept that represents the present value of your earning potential This concept is used in the Risk Management Analysis report to estimate the amount of insurance benefits the client needs for life critical illness disability and long term care The assumptions for Human Capital ask you to specify the timeline and percentage of income to take into consideration Using The Razor The Razor is separated into 6 main areas About Wizard Data Chart Ledger and Report All of these areas are accessible through the Ribbon at the top of the screen The About Screen The About screen is the main screen of The Razor You can access it at any time by selecting About from the Ribbon From here you can Open or Start a new planning analysis download a Client Questionnaire or access
7. e desired chart however you can only zoom in on one chart at a time Financial Flanning Analysis THe it aaee ill iilii PTE BOA h hD i INTTSS C i h r E fe uw Retirement Planning Options The Retirement Planning Options pane is a list of solved planning options These options will act as a guideline when changing and solving values Retirement Plannir tions Option 71 Adjust Income Goals Current income goal Attainable mzame goal Option re Adjust Retirement Age Current retirement age Attainable retirement age 61 Option 3 Adjust Rate of Return Curent investiment ROR 5 00 Required investiment ROR 5 24 Option 4 Adjust Savings Current annual savings 319 000 Required annual savings 21 000 Solving You can choose to solve any Investment Savings or Retirement Income values by clicking the solve button Select which data entry point you would like to solve and click the solve button The software will then calculate the optimal value required for the client to fund retirement 14 Investment Savings 60 1 10 Monthly RRSP Deposit Client B E Annual Investment Deposit Client A a ea Annual Investment Deposit Client B Annual Investment Deposit Joint a Retirement Income Monthly Lifestyle Passive Monthly Employment Client A Monthly Employment Client B Lifestyle Line of Credit Printing The Chart screen was not designed as a printable report
8. en does not include descriptions of required data but does allow you to enter planning notes Entering Data Data Fields To enter client data type directly into any highlighted field To avoid possible Value errors be sure the data entered reflects the format of the cell Entering text into a numeric cell can cause Value errors in the calculations Note Fields The note fields included in the Data screen do not require a specific format as the software will not use this information within the calculations Date Fields To enter dates it is suggested you use the same format established in your system settings for example dd mm yy or mm dd yy You can also choose to enter dates as mmm dd yyyy and allow your computer to automatically determine the correct format for example Jan 01 2011 Age Fields Some age fields allow you to enter either a numeric value for the age of the client or a predetermined value from a drop down Entering text that is not included in the dropdown may cause Value errors Single Clients The Razor is defaulted to build an analysis for a pair of clients each time you start a new client file To build an analysis for a single client simply delete the spouse s name and date of birth The software will then alter all reports to include only one client Printing Currently there is no built in print function for the Data screen To print these documents hold Ctrl P o
9. f the cell Entering text into a numeric cell can cause Value errors in the calculations Date Fields To enter dates it is suggested you use the same format established in your system settings for example dd mm yy or mm dd yy You can also choose to enter dates as mmm dd yyyy and allow your computer to automatically determine the correct format for example Jan 01 2011 Age Fields Some age fields allow you to enter either a numeric value for the age of the client or a predetermined value from a drop down Entering text that is not included in the dropdown may cause V alue errors Single Clients The Razor is defaulted to build an analysis for a pair of clients each time you start a new client file To build an analysis for a single client simply delete the spouse s name and date of birth The software will then alter all reports to include only one client Preparing the Analysis The first 5 steps of the Wizard will guide you through entering all client data and specifying Plan Assumptions Step 6 finishes the process by preparing the financial analysis and automatically taking you to the Reports screen From here you can review the Financial Opportunity Analysis and select which documents to print 11 The Data Entry Screen The Data screen contains all data entry points and planning notes within the software compressed into one screen This allows for quicker data entry and data adjustments The Data scre
10. fits provided W Alternative Investment Strategy Projected Net Worth Projected Cash Flow Projected Taxation Gill F Projected Taxation Mary Projected Retirement Investments Projected Cash Investments Projected Corporate Investments Select strategy to display RP Cash value W Override Strategy The strategy chosen is mathematically determined by the software as an appropriate solution for a client s situation At any time if you do not feel that the strategy selected is not appropriate for your client you can override the selection through the Select strategy to display dropdown This 17 dropdown will display all available strategies within the software By selecting a strategy the Alternative Investment Strategy document will be modified You can choose to reverse this action at any time by un checking Override Strategy Select strategy to display IRF Cash Valle lf Override Strategy RRIF Estate Frateco Assat Estale Pratecter Printing the Financial Opportunity Analysis Reports This is the only area of The Razor that is designed to print To print the Financial Opportunity Analysis report chick off all reports on the Navigation pane that you would like to print any unchecked document will not be printed All selected reports will print landscape with predetermined margins Changing these settings may provide undesired results Once your selections are made click Print on the Ribbon
11. he existing client file If this is not necessary or you have just loaded the software click No Once the new file has been loaded you are able to begin entering client data by using the Wizard or Data screens If you choose to start a new client file by selecting New from the Ribbon the software will automatically take you to the Data screen If you choose to open the client file by clicking Start a New Planning Analysis from the About screen the software will automatically take you to the Data Entry Wizard Opening a Saved Client File The Razor operates using a flat file system and not a database This allows you to open client files from any location connected to your computer whether you are using your hard drive flash drive or server The Razor however is unable to function as a server install and must be installed on your computer s C drive There are two ways to open an existing client file by selecting Open from the Ribbon or by clicking Open an Existing Planning Analysis from the About screen Once selected the software will prompt you to save the existing client file If this is not necessary or you have just loaded the software click No If you choose to open the client file by selecting Open from the Ribbon the software will automatically take you to the Chart screen Financial Planning Analysis If you choose to open the client file by clicking Open an Existing Plann
12. includes proven planning strategies and T1 based tax calculations The Razor helps deliver financial advice that not only addresses all of your client s needs but advice they will also understand In addition to using a whole wealth approach The Razor automates the analysis of your client s financial needs by answering their most important retirement planning questions e When willl be able to retire e How much can I spend e How much do I have to save e What rate of return do I need to earn The Razor also addresses your client s risk management needs by calculating the optimal amount of coverage for e Life Insurance e Disability Insurance e Critical Illness Insurance e Long Term Care Insurance In addition to this user manual we also offer the following e Sample Reports e Online Tutorials e The Razor Glossary e Training amp Support e Testimonials e FAQs Navigation Navigation throughout The Razor software is done using the View menu of the Ribbon Select one of the 5 available buttons to navigate to that area of the software Wizard Data Chart Ledger or Report The Razor Ribbon Controls F i A za E New Open Save Frint Wizard Data Chart Ledger Report Calculate Exit About Report File View Misc The Razor Ribbon is divided into 3 main areas File View and Miscellaneous Over 90 of Navigation and File Management takes place from the Ribbon File Menu JO amp New Open
13. ing Analysis from the About screen the software will automatically take you to the Data Entry Wizard Saving an Open Client File To save your client file click Save in the File menu of the Ribbon This will automatically save the client file with the same name and in the same location If you are saving a new client file the software will prompt you to select a name and location to save the file To save an open file to a new location or with a new name click the drop down menu under the Save button and select Save As The software will then prompt you to specify a new name and or location for the client file Printing The Financial Opportunity Analysis report is the only area of The Razor that is designed to print All reports will print landscape and have predetermined margins Changing these settings may provide undesired results To print the Financial Opportunity Analysis report select Print Report from the File menu of the Ribbon Print Report will print all selected documents from the Financial Opportunity Analysis report any unchecked document on the Navigation pane will not be printed It is possible to print any other area of the software To print these documents navigate to the desired location and hold Ctrl P on your keyboard This method however cannot guarantee that the page layout and print margins are ideal Data Entry There are three ways to enter or change data within The Razor W
14. izard Data or Chart These 3 areas are all accessible through the View menu of the Ribbon The Wizard will guide you through the data entry process and provide a description of the data entry required The Data screen contains all data entry points and planning notes within the software The Chart screen Financial Planning Analysis allows an advisor to adjust alter or solve client data while simultaneously viewing the results This allows you to see how changes in the client s situation will affect all aspects of the analysis Client Questionnaires There are two Client Questionnaires available Short Form Questionnaire and Long Form Questionnaire Both are useable with The Razor and can be accessed through the Open Planning Questionnaire button on the About screen Neither questionnaire can be imported into the software Short Form Questionnaire This questionnaire is a very quick and summarized client questionnaire It has been built to resemble the Data Entry Wizard and only includes data that is required by The Razor Long Form Questionnalre This questionnaire is a very detailed Know Your Client questionnaire It is more time consuming to complete but will provide you with much more detailed client data Plan Assumptions There are two new assumptions included in The Razor that were designed to better analyze a clients situation while at the same time minimizing the data entry required Tax Efficiency and Human Capital
15. n your keyboard This method however cannot guarantee that the page 12 layout and print margins are ideal We will be looking to add a printing ability to the Data screen in a future release The Chart Screen Financial Planning Analysis The Chart screen allows an advisor to adjust alter or solve client data while simultaneously viewing the results This allows you to see how changes in the client s situation will affect all aspects of the analysis Changing Values Values are organized down the left hand side of the screen They are organized into 4 main sections Investment Savings Retirement Income Index Assumptions and Tax Efficiency Assumption Each of the 4 main sections contains multiple data entry points When any data entry point is selected the toggle buttons on the right will control the values of that selection From here you can increase or decrease the amount age or years to display I THERAZOR lnvwesine nt Savings Monthly Employment Client D Lifestyle Line of iredi Index Assumptions Peal heren Goer tiog Lifestyle Debt Fyncke 13 Any values changed will automatically be updated throughout both the Wizard and Data screens Be sure to Calculate after altering any values in the Chart screen Financial Planning Analysis Charts There are three Financial Planning Analysis charts Cash Flow Income Tax and Financial Assets You can zoom in on any of the three charts at any time by simply clicking on th
16. t documents and 7 ledger documents All documents are available for printing through the Print button on the File menu of the Ribbon a ithe Navigation To navigate through the Financia Opportunity Analysis reports use the Next and Previous buttons at the top of the Navigation pane These buttons will cycle through any selected reports You can also choose to jump directly to a report by selecting it from the list 16 ggg Previous Next gt gt gt Navigation Select pages to display and print x Cover Page 4 Contents x Financial Planning Process a Planning Assumptions x Financial Summary x Integrated Analysis Retirement nalysis 4 xl Risk Management Analysis x Alternative Investment Strategy 4 Projected Net Worth x Projected Cash Flow x Projected Taxation Bill Projected Taxation Mary 4 4 Projected Retirement Investments 4 Projected Cash Investments Projected Corporate Investments Adding or Removing Documents Any document listed in the Navigation pane can be added or removed at any time by checking or un checking the document When printing only checked documents will print Alternative Investment Strategy The Alternative Investment Strategy document can display any one of 11 alternative investment strategies These strategies do not incorporate client data but rather open the discussion as to the bene
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