If you’re not getting better, you’re falling behind. Technology makes this statement even more true. In the last week of May and the first week of June 2023, we experienced this more than ever with stocks such as Nvidia, which is a leader in artificial intelligence semiconductor chips and Tesla, the next-generation car manufacturer, having tremendous gains! My friend Dave Ramsey and his team at Ramsey Solutions are also constantly putting their foot on the petal regarding their tech stack. Think about how much easier and convenient it is to budget with the EveryDollar Budgeting App (did you know you get the plus version for free for one year from Whitaker-Myers – ask your Advisor how) or how about the Ramsey Network App, which has all your favorite Ramsey shows and podcasts in one convenient app.
Why this monologue? We have made a significant investment in the online portal that you, as a client, access to view your Schwab, Betterment, or 401(k) managed through our third-party technology. If we help you manage a portion of your net worth in one of the ways mentioned above, you’ll soon get an online client experience that we are over the moon excited about.
First, let’s discuss what’s not changing. If you view your account directly through Schwab.com or Betterment.com, please know that your login, password, and experience are not changing since the custodians run those platforms. However, if you use our Emoney or Morningstar Portal, your view will get quite a bit better in about two weeks. Those online portals will shut down in favor of our consolidated Whitaker-Myers Wealth Managers Client Portal. What’s even more exciting!?!? Around July of 2023, the portal will have a fully functioning mobile app in the Apple App Store and Google Play Store. Search Whitaker-Myers Wealth Managers or Smartvestor Pro, and you’ll find this one-of-a-kind, handy-dandy app.
Let’s talk about what you’ll see on this new portal:
Client Overview Tab
This will be your landing tab when you initially log into the portal. The page will allow you to quickly and easily see some of the most important parts of your financial story, including your net worth, transactions (assuming you have linked your bank accounts to the system through PLAID), and progress on your financial plan.
Ever wonder how a bad day in the markets affected your long-term financial plan? My guess is not much, but now you can log right in and quantify that question from the results of this screen. Your net worth and liabilities are tracked month to month to see the progress you’re making on paying down debt and building wealth. This is particularly helpful in a year like 2022 when the stock market dropped 20% (and growth stocks dipped nearly 35%), yet your personal real estate took a major step forward, yielding a neutral net worth. The beauty of diversification!
Newsfeed
All the content that the team at Whitaker-Myers Wealth Managers and Tax Advisors creates will be uploaded to this newsfeed portal so you’ll have one convenient location to watch our “What We Learned in the Markets This Week” video series or read about Qualified Charitable Distributions or any other financial planning topic, from one of our Financial Planners. You will have customized, easy-to-read statements created for you once a quarter that very simply show you your starting balance, ending balance, and gain/loss for that period and since inception. These statements will be posted right on the newsfeed. Finally, any custom videos your advisor does specifically for you will be uploaded to the newsfeed section of the web portal.
Personal Finances Summary
Remember how Dave says there is a nerd and a free spirit in every relationship? This page will allow you to dive deeper and further understand what you have from an investment perspective and how it's performing. You can check out information for various time frames, including your returns, market value, and allocations. We are also working with the team that built this portal for us to categorize your funds into the Growth, Growth & Income, Aggressive Growth, and International Allocations, so you know precisely which fund falls into which Ramsey Solutions category.
In addition, this page will allow you to link an outside institution or add an account manually to the portal. For example, if you’d like your 401(K) balance to update daily, you can enter your login credentials for that plan. It’ll update daily (Note that those clients that use Whitaker-Myers Wealth Managers to help manage their 401(k) through our third-party technology will be able to see daily updates to their 401(k) without having to enter credentials).
Reports
Ever wonder what your cash flow will look like ten years later? How about what your balance sheet should look like based on executing your Baby Step 4? Click here to see a sample of this page. The Reports page lets you access even more information about your goals and finances. You’ll be able to toggle between reviewing projected cash flows and values of individual assets and liabilities and even see action steps your advisor will give you for achieving your goals.
Document Vault
In the document vault, you can store and share documents securely with your advisor. Files uploaded into the vault are encrypted in transit and at rest to provide end-to-end security and protection. Many users upload tax statements, wills, insurance policies, and more for safekeeping. This will become your digital LEGACY DRAWER, which Dave Ramsey and Ramsey Solutions so adamantly recommend you keep. This is also where each month we’ll upload your Schwab custodian statement. Remember, Schwab statements are some of the hardest to read (as any custodian statement is), so we’ll create our own version to help you better understand what happened in your account.
Goal Results
Lastly, the goal results page will give you a high-level summary of your financial planning goals and drill into detailed information on individual goals. You’ll know if each goal is funded or not, and you can then click on each goal to view more details, including projections, action steps, and suggestions. You can also complete a new goal workflow and add that to your plan. Examples of goals you can add are: Retirement Savings, College Savings, Debt Management, Home Purchase, Emergency Funds, and many more.
In addition, should you have questions about linking your outside accounts to this portal, you can learn more by clicking here. This software uses Plaid to link your bank, 401(k), or other outside accounts, which is one of the premier data encryption services in the world.
We are very excited about releasing this new and exciting way to view your finances. Investments and enhancements like this are why the Ramsey Solutions team continues to trust our firm, Whitaker-Myers Wealth Managers, to serve fans and listeners all over the country to live and give like no one else.
You should receive your client portal login instructions in the next few weeks; however, if you’d like to receive yours today, please click here to email our Client Relations Manager, Shelly Sturts, who will be happy to send you your login today.
YOUR CLIENT PORTAL IS GETTING A MAJOR UPGRADE!
June 4, 2023
John-Mark Young
Whitaker-Myers Wealth Managers is an SEC-registered investment adviser firm. The information presented is for educational purposes only and intended for a broad audience. The information does not intend to make an offer or solicitation to sell or purchase any specific securities, investments, or investment strategies. Investments involve risk and are not guaranteed. Whitaker-Myers Wealth Managers reasonably believes that this marketing does not include any false or misleading statements or omissions of facts regarding services, investment, or client experience. Whitaker-Myers Wealth Managers has a reasonable belief that the content will not cause an untrue or misleading implication regarding the adviser’s services, investments, or client experiences. Please refer to the firm’s ADV Part 2A for material risks disclosures.
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