The Evaluation is where you enter and maintain a client's financial information in Planworth. This information is used across Statements, Wealth Insights, and Financial Insights.
The Evaluation begins with Preliminary, where you identify the accounts, assets, liabilities, and other financial information relevant to the client. You do not need to complete every section or reach 100% completion before creating a financial plan. However, you should enter enough information to accurately represent the client's financial situation.
1. Open the Evaluation
From the Client Dashboard, select Evaluations.
Open the Core or Pro Evaluation available in your workspace.
The Evaluation opens on Preliminary, where you can identify the financial information relevant to the client.
2. Complete Preliminary to Show the Relevant Sections
Preliminary acts as a checklist for the client's financial situation. It determines which sections and subsections are available throughout the Evaluation.
Review the Preliminary categories and select the options that apply to each household member.
For example:
Selecting TFSA makes the corresponding Savings section available.
Selecting Other Real Estate (e.g. Rental) allows you to enter rental properties.
Selecting Mortgage Debt or HELOC Debt allows you to enter the corresponding liabilities once a personal real estate type has been selected.
Indicating that the client owns a private corporation makes the applicable corporation sections available in a Pro Evaluation.
Important: Selecting an account or asset type in Preliminary does not automatically create the account or asset. You must open the corresponding Evaluation section and enter its details.
If a section is missing from the Evaluation, return to Preliminary and confirm that the applicable option is selected. Available options may differ depending on the Evaluation type, workspace, and household.
3. Enter the Client's Financial Information
Once you have completed the relevant Preliminary selections, use the sections across the top of the Evaluation to enter the client's financial information.
The table below shows where common types of information are entered.
Information | Where to enter it |
Bank accounts, non-registered investments, TFSA, RRSP, RRIF, LIRA, LIF, DCP, RESP, FHSA | Savings |
Salary, pensions, CPP/QPP, OAS, defined-benefit pensions, and other income | Income |
Principal residences, vacation properties, and rental properties | Real Estate |
Mortgages and HELOCs | Real Estate Debt |
Other liabilities, such as car loans | Applicable debt section |
Life insurance and other insurance policies | Insurance |
Other applicable assets | Unique Assets |
Private corporations | Corporations (Pro) |
Family trusts | Family Trusts (Pro) |
Estate planning documents | Estate Planning |
Each section contains fields specific to the type of information being entered. Complete the applicable fields and save your entries.
Adding Savings and Investment Accounts
In Preliminary, select the account types the client holds under Investment Accounts, Retirement Accounts, or Other Accounts/Info.
Open Savings.
Select the applicable subsection, such as Bank Accounts, Non-Registered, TFSA, or Canadian Registered.
Add each account, entering the ownership, account type, balance, and any other applicable fields.
Select Save.
Entering Salary and Pension Income
Income information is entered under Income, using the client's employment and pension information.
In Preliminary, complete the applicable career and employment selections.
Open Income.
Select the appropriate subsection, such as Salary, Pensions, CPP/QPP, OAS, or DBP/Other.
Enter the relevant information and select Save.
Retirement information helps determine when salary income ends in the financial projection. Defined-benefit pensions and bridge benefits have additional fields for commencement timing, benefit amounts, indexing, and survivor benefits.
Adding Real Estate and Related Debt
Properties and their associated debts are entered separately.
To add a property:
Under Preliminary → Personal Real Estate, select the applicable property type.
Open Real Estate.
Select Add Real Estate under the applicable owner.
Enter the property's details, including ownership, fair market value, and other relevant information.
Select Save.
For rental properties, select Rental Property under Property Use and enter the Annual Rental Income and Annual Rental Expenses, along with their applicable growth rates.
To add a mortgage or HELOC:
Return to Preliminary → Debt and select Mortgage Debt or HELOC Debt.
Open Real Estate Debt.
Add the mortgage or line of credit.
Connect the debt to the applicable property.
Enter the outstanding balance, interest rate, payment information, and other applicable fields.
Select Save.
Important: Mortgage and HELOC options require a personal real estate type to be selected in Preliminary first. Entering a property's fair market value does not automatically create its mortgage or HELOC. These must be entered separately.
Mortgage payments recorded under Real Estate Debt already affect the financial projection. Avoid entering the same payments again under Spending Goals, as this may double-count the expense.
Entering Other Financial Information
Continue through any remaining sections that apply to the client, including insurance, unique assets, other liabilities, corporations, family trusts, and estate planning. The available fields depend on the information selected in Preliminary and the Evaluation type.
For each applicable section, enter the required details and save the information.
4. Review Evaluation Progress
Planworth displays completion indicators throughout the Evaluation, including section percentages, checkmarks, and an overall completion percentage. These indicators help you identify sections that may still require attention.
Before proceeding with financial planning, review the information entered and confirm that it accurately represents the client's financial situation.
You can also review the Overall Net Worth displayed in the Evaluation to help verify the recorded assets and liabilities.
You do not need every Evaluation section to reach 100% before creating a Financial Insights scenario.
5. How the Evaluation Connects to Financial Planning
Once the client's information is entered, it is used across several areas of Planworth.
Statements displays the client's current financial position based on the information entered.
Wealth Insights uses the client's financial information to identify potential tax and estate planning opportunities.
Financial Insights uses the information to create financial projections, including income, expenses, investment growth, withdrawals, and changes in net worth.
When you create a Financial Insights scenario, its assumptions are saved with that scenario.
6. Troubleshooting
A section is missing from the Evaluation
Return to Preliminary and confirm that the corresponding account, asset, or information type is selected. Also confirm that the feature is available in your Core or Pro Evaluation.
Financial Insights does not open
Confirm that the primary client's date of birth has been entered and saved under Family Info.
Financial Insights shows unexpected values
Confirm the relevant Evaluation information was saved, then review the selected scenario's assumptions, toggles, and applicable cash-flow or account details.
Remember that Statements reflects the client's current position, while Financial Insights projects future results using the scenario's assumptions.