Home Breadcrumb caret Industry News Breadcrumb caret Industry New tool offers ‘snapshot’ of financial well-being The online platform, launched by IG Wealth Management, gives users a score in less than 15 minutes By Maddie Johnson | October 29, 2019 | Last updated on October 29, 2019 1 min read © Dinis Tolipov / 123RF Stock Photo Winnipeg-based IG Wealth Management has introduced a new online tool designed to give users a snapshot of their financial well-being in less than 15 minutes, the firm said in a release on Tuesday. The IG Living Plan Snapshot uses a combination of advanced artificial intelligence and data algorithms to assess individuals on five criteria related to their household’s financial life and assign them a score of 0-100. According to the release, users are evaluated on: managing cash flow and daily spending; planning for major expenditures such as real estate; preparing for the unexpected with insurance and emergency funds; optimizing retirement savings; and sharing one’s wealth through a charitable giving strategy and estate planning. “Financial well-being is about more than just investing and returns,” Jeff Carney, president and CEO of IG Wealth Management, said in a statement. “What makes the IG Living Plan Snapshot truly unique is that it provides a holistic and comprehensive measurement of all aspects of a household’s ability to realize its financial goals.” In September, MoneyGaps — an online tool that allows independent financial advisors to offer prospective clients a “lighter financial planning experience” — was launched by wealth management consultant Preet Banerjee. The IG Living Plan Snapshot is intended for users who do not yet have a comprehensive financial plan or don’t think their current plan encompasses all aspects of their financial life. Maddie Johnson Maddie is a freelance writer and editor who has been reporting for Advisor.ca since 2019. Save Stroke 1 Print Group 8 Share LI logo