The latest enhancement from Finology Software is a powerful Report Builder, delivering new custom capabilities that complement the Federal Loan Simulator and IDR Comparison, released in Spring of 2024, within the Liability Planner tools.
The custom reports for student loan repayment planning are designed to showcase the client debt lifecycle visually with an exportable pdf. Financial advisors desire a client-ready branded report to have an intelligent conversation with their current or prospective clients with federal student loans.
Finology Software’s technology empowers advisors to scale the number of initial client meetings and bridge the current gap in organic growth by expanding the scope of their firm’s services, opening up a new market of future clients that have student loan questions today.
Report Builder is the fall 2024 release from Finology Software and marks one year of ongoing development that began in September of 2023. Last year the Finology Software offering was launched to financial advisors in preparation for the return to student loan repayment announced earlier that year.
Finology Software has taken the time to carefully develop and iterate on its roadmap by listening to the growing number of financial planners using the solutions and continuously refining the platform. The culmination of this innovation lies the Report Builder, generating the end-to-end solution designed to empower financial advisors with personalized insights into their clients federal repayment options. Whether advisors are evaluating different Income-Driven Repayment (IDR) Plans or strategizing their clients’ way to financial wellness, these reports provide everything needed to look at the entire scope of pro forma federal loan repayment.
If you are interested in trying Finology Software for your firm, accessing the platform is easy and no credit card is required to get started.
Key Features of the Reports:
- Customized Repayment Plans: Each report is personalized for the client, offering detailed comparisons of IDR plans and recommendations based on individual financial situations (Scenarios) that include pro forma income, family size and tax filing status.
- Comprehensive Scenario Planning: The report outputs include the details for Public Service Loan Forgiveness (PSLF), Teacher Loan Forgiveness, employer contributions, as well as accelerating payments if clients are able, ensuring clients can see a complete picture of their repayment journey.
- Custom Branding Options: Advisors can customize these reports with their own firm’s branding, providing a professional and personalized experience for their clients.
- Easy Access to Key Data: Finology Software has been specifically designed to accept the National Student Loan Data System (NSLDS) information, ensuring clients have the most accurate and up-to-date information available and the NSLDS is easily onboarded in the dashboard.
- End-to-End Solution: Finology Software offers a complete suite of tools, within the Liability Planner including the powerful Federal Loan Simulator streamline student loan repayment management of SAVE, PAYE, IBR, Standard, Graduated, ICR from start to finish.
Finology Software is grateful to Ryan Galiotto and insights from Steve Witter, who have been testing and delivering feedback on the latest seen here in the latest Community Live. These reports go beyond data—they offer actionable insights that make complex repayment options easy to understand and navigate delivering a roadmap for client financial success.
As the only solution on the market that is updated continuously over the last year and offering NSLDS onboarding, automated workflows, and powerful student loan repayment planning capabilities, Finology Software’s reports help advisors strengthen their client relationships while ensuring compliance.
In line with Finology Software’s commitment to fostering a strong advisor community, the upcoming CCFC session at XYPNlive will highlight how advisors can leverage these tools to enhance their offerings. We’re also excited to announce our next live webinar, bringing our growing community together and featuring real customer stories and best practices for maximizing the platform’s impact. Stay tuned for the date of this joint session with customers and prospects!
Ready to transform the way you manage student loan repayment? Get started in 2 minutes or contact us today to schedule a demo and learn more about how our comprehensive reports can provide your clients with the insights they need to achieve financial freedom.
Alex Bottom
CEO Finology Software
