PlanPro was recently featured in an article on WealthManagement.com. We’ve pulled out the mention here. To view the original article in its entirety, click here.
Our technology columnist shares some of his thoughts on the pro- and antigenerative AI hysterics, as well as cybersecurity and some providers worth mentioning.
AdvizorPro and PlanPro
I got to meet several newish technology providers at the conference as well. The most interesting were Michael Magnan and Hesom Parhizkar, co-founders of AdvizorPro and PlanPro.
Of most interest to financial advisors will be PlanPro, which provides data, tools and a plethora of filters to help effectively engage plan sponsors. The dozens of filters, including red flags, plan details, geography and others, can help advisors find plans in their area and view in-depth plan profiles. The data they collect can be used to find plans with high fees and the potential for savings, as well as weaknesses in plan funds or diversification issues among others.
Magnan, with more than six years of experience in the financial services industry as a data scientist and product manager before building his own startup, said it was personal experience that led him to start PlanPro.
While the application starts with Form 5500 data, it has investment data on plans with more than 100 employees and lets plan advisors get at plans in the sweet spot of having at least $10 million in assets.
“We provide all kinds of ways and filters for you to search to find companies that need your help,” Magnan said, easily drilling into plans that had unnecessarily high fees during a demo of the product.
“Two things we really specialize in are reports with rich data on plans and performance and our lead lists,” he added.