The Plan parameters area of the Advisor Portal > Client Settings > Client Presets tab allows you to set a number of default plan inputs that will be used within newly created client plans. Depending on your specific account setup, your Client Settings tab may be located in the °°° More Menu.
Most of these parameters are a part of the initial data entry process (the Profile) and are primarily intended to save you time when inputting client information into RightCapital. Any changes made within this area will be applied to new clients created in RightCapital going forward. Existing clients will not be impacted.
Planning horizon
This controls the default planning horizon for new clients, which is the age at which a client is assumed to pass away. This parameter stems from the Client and Co-client cards within the Profile > Family section of each plan. By default, this will be set to age 90.
Residence state
This controls the default resident state for new clients, which determines how state taxes will be calculated in the retirement projections. This parameter stems from the Client card within the Profile > Family section of each plan. By default, this will be set to New York.
Retirement age
This controls the default retirement age for new clients. This parameter stems from the Retirement Age card within the Profile > Goals section of each plan. By default, this will be set to 67.
Annual retirement health cost estimate
This controls the default retirement healthcare costs for new clients. This parameter stems from the Annual Retirement Health Cost card within the Profile > Goals section of each plan. By default, this will be set to the National average ($6,092 for 2024).
Annual retirement LTC duration
This controls the default long-term care duration for new clients. This parameter stems from the Annual Retirement LTC Cost card within the Profile > Goals section of each plan. By default, it is set to the Last two years of the plan.
Annual retirement LTC cost estimate
This controls the default long-term care costs for new clients. This parameter stems from the Annual Retirement LTC Cost card within the Profile > Goals section of each plan. By default, it will be set to In-home care — national average ($68,640 for 2024).
Spending strategy
This controls the default retirement spending strategy for new clients, which determines how their retirement expenses will change over the course of their plan. This parameter stems from the Retirement Expense card within the Profile > Goals section of each plan. By default, this will be set to Inflation Adjusted.
To read more about retirement spending strategies, click here.
Expense Approach
This controls the default expense approach for new clients, which determines whether living expenses are entered as a single monthly amount, or as a detailed worksheet with custom expense categories. This parameter stems from the "Pre-retirement Living Expenses" and "Retirement Expense" cards, within the Profile > Expenses and Profile > Goals tabs respectively. By default, this will be set to Simple approach.
Historical Net Worth Period
This controls the default time period for the Historical Net Worth chart, located within the Dashboard > Balance Sheet area of each plan. The default setting is Last 12 months.
Target allocation
This controls the default target allocation for new clients, which is the model portfolio that can be compared to the client's current allocation in the Investment > Asset Allocation tab of each plan. New asset allocation models can be created within the Models > Portfolios tab of the advisor portal.
