About Income InSight
Income InSight is a retirement planning software from Covisum that helps financial advisors illustrate their clients' retirement scenarios. It combines Social Security improvement, Tax Planning, and Retirement Income Planning to provide a comprehensive view of potential income flows. The software includes Portfolio Risk Analysis to assess investment strategies and their impact on retirement goals. Income InSight supports financial professionals in demonstrating the value they add and differentiating their services in a competitive marketplace. With features designed to build a clear roadmap for retirement, it ensures advisors can deliver tailored insights to their clients. Key capabilities: Covisum Suite Social Security improvement Tax Planning Retirement Income Planning Portfolio Risk Analysis Best for: financial advisors that need to provide detailed retirement income projections.
Income InSight by Covisum is a highly effective, advisor-focused software specializing in retirement income distribution planning, particularly for affluent clients. Its unique value lies in its deep tax integration and ability to seamlessly model complex Roth conversion strategies and tax-efficient withdrawal sequences. The platform’s standout features—the Multi-Year Tax Map and Stress Tests—generate impactful, client-friendly visuals that enable advisors to clearly demonstrate their value and navigate difficult conversations about market volatility or tax exposure. While it is a paid, subscription-based service, its primary drawback is its US-centric focus and the fact that its core competitors (Social Security, Tax Clarity, Risk) are sold as separate, albeit integrated, modules. It is an ideal tool for advisors who want to create differentiated value through proactive retirement tax planning.
Pros & Cons
- +Generates client-friendly charts and graphs that clearly simplify complex topics
- +Effective at identifying and illustrating Roth conversion opportunities and sub-optimal tax situations
- +Allows advisors to model worst-case scenarios to build client confidence
- +Seamlessly integrates with Covisum's suite of specialized tools
- +Offers specialized support from experts
- −The subscription fee is quite high for individual use
- −The default subscription is for a single user and requires an additional fee for team members to gain full access.
- −It is not a full-service financial planning software
- −Effective utilization requires dedicated training and a deep understanding of tax-efficient distribution strategies.
Features
Key features
- Year-by-Year Cash Flow Analysis
- Generates a detailed breakdown of a client's income, expenses, and account withdrawals for every year of their retirement.
- Multi-Year Tax Map
- Visually illustrates the client's tax landscape throughout retirement, helping advisors identify years with sub-optimal tax situations or "tax traps."
- Roth Conversion Strategy Generator
- Quickly identifies tax-efficient opportunities and suggests specific dollar amounts for Roth conversions to minimize future tax liabilities.
- Side-by-Side Plan Comparisons
- Allows advisors to display the client's current retirement strategy (Base Case) next to the advisor's recommended plan (Plan Case) to clearly demonstrate the value added.
- Comprehensive Stress Testing
- Enables advisors to test the retirement strategy against multiple catastrophic scenarios, such as a down market, early death, Social Security benefit cuts, and long-term health care events.
Additional features
- Portfolio Longevity Metric
- Calculates how long the client's current portfolio is projected to last under the planned scenario.
- Income Floor Metric
- Determines the percentage of a client's income needs that are met by guaranteed income sources (like Social Security or pensions).
- Estate Value Projection
- Calculates the estimated after-tax value of the client's remaining estate at the end of the planning horizon.
- Self-Employment Tax Feature
- Calculates the impact of paying both the employee and employer share of Social Security and Medicare taxes for self-employed clients.
- Data Input & Import
- Allows for manual data entry or importing client financial data from integrated third-party systems.
Pricing
Countries & Languages
Available in
Interface languages
Billing currencies
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About Income InSight
Income InSight is a retirement planning software from Covisum that helps financial advisors illustrate their clients' retirement scenarios. It combines Social Security improvement, Tax Planning, and Retirement Income Planning to provide a comprehensive view of potential income flows. The software includes Portfolio Risk Analysis to assess investment strategies and their impact on retirement goals. Income InSight supports financial professionals in demonstrating the value they add and differentiating their services in a competitive marketplace. With features designed to build a clear roadmap for retirement, it ensures advisors can deliver tailored insights to their clients. Key capabilities: Covisum Suite Social Security improvement Tax Planning Retirement Income Planning Portfolio Risk Analysis Best for: financial advisors that need to provide detailed retirement income projections.
Income InSight Details
Income InSight's In-App Market Place
Does Income InSight have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
1
Mini Apps
N/A
Pricing Options
Accepted Payment Currencies
USD ($)
Pros & Cons
- Generates client-friendly charts and graphs that clearly simplify complex topics
- Effective at identifying and illustrating Roth conversion opportunities and sub-optimal tax situations
- Allows advisors to model worst-case scenarios to build client confidence
- Seamlessly integrates with Covisum's suite of specialized tools
- Offers specialized support from experts
- The subscription fee is quite high for individual use
- The default subscription is for a single user and requires an additional fee for team members to gain full access.
- It is not a full-service financial planning software
- Effective utilization requires dedicated training and a deep understanding of tax-efficient distribution strategies.
Income InSight's Support Options
Email Address
help@covisum.comContact
402-235-4500Income InSight's Alternatives
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