Six emerging FinTech companies showcased the latest technology innovations in Financial Planning that will directly impact the delivery of financial advice
Bozeman, MT (September 21, 2023) – XY Planning Network (XYPN), announced Income Lab’s new Retirement Income Stress Test “Best in Show” of the AdvisorTech Expo at their annual XYPN LIVE conference held in Atlanta, Georgia.
The AdvisorTech Expo recognizes new and emerging fintech companies that build solutions for financial advisors. This year’s focus was on advice engagement, including building tools to better engage financial planning clients in the upfront and ongoing advice process, leading to higher client retention and better follow-through on their financial planning recommendations.
The winner was based on the popular votes by advisor attendees of the conference, who numbered over 840 this year.
This year’s other nominees included:
● Bento Engine: Bento Engine is an integrated technology and content solution designed to provide proactive, impactful advice beyond investing to clients and prospects during key “Moments That Matter” on their financial journeys.
● Income Lab: Income Lab’s new Retirement Income Stress Test tests, visualizes, and compares how retirement income plans behave through real-world return and inflation environments by using spending adjustments—rather than portfolio failure—mapping out a plan to withstand periods of high inflation or market volatility.
● Pusle360: Pulse360 helps growth-minded professional financial advisors streamline and enhance their client documentation process.
● Snug: Snug is a total estate planning solution that goes beyond a Will or Trust to organize all of life’s details—everything from social security benefits to military service to digital assets, and takes on the universal pain and logistics of transitioning from one generation to the next.
● Switchboard: Switchboard by AdvisorCo is the first all-in-one cash flow platform to help advisors develop, illustrate, implement, maintain, and automate client cash flows.
To participate, companies must have launched in the past 12 months, and the company (or its new offering) must still be below $1M in revenue.
“Financial planning has been constantly evolving for nearly 50 years, and the technology that supports financial planning continues to evolve along with it,” said XYPN co-founder and Executive Chairman Michael Kitces. “Our goal with the XYPN AdvisorTech Expo is to help the financial planning community, especially our tech-forward advisor members, see the cutting edge of that evolution firsthand, and get a glimpse of the next big things coming in advisor technology. We’re incredibly proud of the track record of growth for our prior AdvisorTech Expo winners, including Snappy Kraken, Vestwell, and Holistiplan, many of which debuted for the first time at prior XYPN LIVE conferences.”
More than a dozen initial submissions were evaluated by Kitces and Dave Bowman, Director of Partnerships for XYPN, to determine which finalists offered the most promising and dynamic new tools to facilitate advice engagement. The finalists presented their new innovations at XYPN LIVE where audience members voted to determine Best in Show.
Income Lab is a company on a mission to revolutionize how people navigate retirement so they can live with confidence.
“With their second win in a row, Income Lab is the only team to be voted “Best in Show” twice at XYPN LIVE. Making the finalist’s circle and being invited to present live from the stage is competitive, but this back-to-back win is a special distinction worthy of well-earned bragging rights” said Bowman. “Income Lab has introduced a paradigm shift in how advisors talk with clients about one of the most classic financial discussions they can have—financial health in retirement—making their guidance more accurate, more caring, and ultimately more valuable.”
“We’re thrilled to have our new Retirement Stress Test named ‘Best In Show’ at XYPN LIVE.
It’s so exciting to have such great support from the financial advisor community and to be part of the push to improve client outcomes and experiences in retirement. We’ve already seen this tool relieve a lot of client anxiety and help people go into and through retirement with more confidence,” says Co-founder and Chief Innovation Officer of Income Lab, Justin Fitzpatrick.
About XY Planning Network
XYPN is the only turnkey advice and planning platform that makes it possible for fee-for-service financial advisors to build the independent firm of their dreams with complete autonomy. We do this through ongoing advocacy and access to education and training, curated technology, compliance support, community, and back-office and client support services. For more information about XYPN LIVE, XYPN, and the finalists, please visit XY Planning Network.
About Income Lab
Income Lab is a Denver-based retirement income planning and management platform that leverages cutting-edge data science and research to improve retirement income planning. The platform allows financial professionals to deliver better retirement income outcomes, while also streamlining ongoing plan monitoring and management. For more information, please visit Income Lab.
