Wells Fargo Envision Scenarios is a new online tool that will enable investors to model how hypothetical adjustments in their investment plan could affect their investment goals.
Dubbed ‘Envision Scenarios’, the new offering will allow clients to create up to four scenarios at one time.
The tool will notify financial advisers about the changes made by clients. Advisers can then review the various scenarios and offer advice on which elements to incorporate in the plan.
The tool can also be used by advisers to create scenarios for their clients.
Wells Fargo Advisors head of innovation and strategy Joe Nadreau said: “Envision Scenarios is designed to help give answers to the ‘What if?’ questions people have when it comes to their investment plans.
“The tool allows investors to dig into their plan and learn how different decisions, or scenarios, may impact their dreams. They can adjust their goals and instantly view how big or small changes may impact their existing plan. This tool is a first in providing investors a real-life and real-time look into future possibilities.”
However, the hypothetical changes in the plan do not alter a client’s existing plan.
“Envision Scenarios is a win for our clients and our advisers. It gives our clients a new way to digitally collaborate with their adviser, and it also empowers them to be more involved with their investment plans and the Envision process. For advisers, it provides another way to connect with their full-service clients,” Nadreau noted.