Collaborative Financial Planning with Firm-Level Control
RightCapital is designed to scale alongside the firms that use our software. As firms seek more collaboration and control over planning parameters, they can enable RightCapital's firm settings. Firm Settings provide options for control over:
Templates for PDF reports, Planning Access, the Vault, & the Snapshot module
Custom models, including Model Portfolios, Glide Paths, Return Scenarios, Vesting Schedules, and Retirement Spending Strategies
Super Administrator Overview
General Information
Customization
For more information and details pertaining to custom branding, please reference this article.
Oversight
The Oversight tab will allow the Super Administrator to control if the firm member can:
Update their firm name.
Update their address.
Use their own report disclosures.
Customize their branding.
Customize their invitation email template.
Templates
Asset Returns
Controlling return assumptions for your team and reviewing these assumptions periodically is essential to keeping your team confident during client presentations. Using historical data to set return assumptions provides a systematic approach to factoring the historical experience data into your financial projection. Using a forward-looking method allows you to incorporate more subjectivity into the projection. Controlling asset returns at the firm level creates consistency for team members. It removes individual advisors' ability to adjust each asset class's return rate and volatility.
This feature is not included by default within the Firm tab. Locking return assumptions is only available if all advisors hold a Platinum subscription to RightCapital. To enable this feature, please have your super administrator contact sales@rightcapital.com.
Asset Class
When Custom Asset Classes are enabled, we use a different model to generate Monte Carlo scenarios. This is to account for the flexibility provided for updating volatility and correlation assumptions. This granular approach utilizes a standard log-normal distribution model. If you enable Custom Asset Classes, you may see different results for existing plans. This feature cannot be turned off once enabled for the firm. For more information about Custom Asset Classes, click here.
After being enabled, Custom Asset Classes are organized at the firm level by the super administrator. Only the super administrator will have the ability to add custom asset classes for their team. This feature is available upon request but will not appear in the firm tab by default. If you wish to gain access to Custom Asset Class functionality for your firm, please get in touch with us at support@rightcapital.com.
Correlation
A calculation will run to ensure the correlation matrix is valid; if not, an error message will display, and values must be corrected. An example of an invalid correlation matrix would be if category A is 100% correlated with category B, category B is 100% correlated with category C, but category A is negatively correlated with category C.
Models
The Super Administrator of an organization will be able to create Portfolio, Glide, Scenario, Vesting, and Retirement Spending Models for the firm that can then be used among advisors. The firm-level models will be treated like our default models and can not be edited by advisors. Advisors will continue to have the ability to create their models within their Advisor Portal > Models tab.