Need to Know
- CIBC has launched a new financial planning platform available to its Imperial Services clients.
- The GoalPlanner tool allows clients to identify goals and see an overview of their finances with an easy-to-use, modern platform.
- As the pandemic continues to disrupt the world, the need for improved financial planning grows, and banks like CIBC, TD, and BMO are responding with new digital tools and resources to do so.
Canadian-based financial institution CIBC has launched a new platform to help clients set goals for the future and make financial planning feel easier. The new CIBC GoalPlanner “modernizes and simplifies the financial planning experience” so clients can get started with their financial planning through CIBC’s online bank.
The CIBC GoalPlanner gives clients an overview of their finances and offers insight into opportunities, shortfalls, and surpluses with their cash flow, offering a better understanding of their progress and what it takes to reach their goals.
When visiting the GoalPlanner Tool online, users are presented with a number of goal options to choose from, such as saving for retirement, paying off debt, or buying a home. After clicking on a goal, users are then taken to a page that offers tips, worksheets, and the option to book an appointment with an advisor.
Currently, the GoalPlanner platform is available exclusively to CIBC’s Imperial Service clients. Imperial Service is a program that offers financial advising services, as well as exclusive banking and investment products, a special black Imperial Service credit card, and additional online services for financial planning.
In a time when our environments, needs, and priorities are changing rapidly, the need for digital financial support is growing.
“The pandemic has affected the finances of many individuals and families, making it more important than ever before to have clear financial goals, and to stay connected to your progress toward achieving your ambitions,” said Laura Dottori-Attanasio, group head of personal and business banking at CIBC. “The path to reaching your goals is rarely a straight line. Coupled with great advice, CIBC GoalPlanner gives you the confidence that comes from having a comprehensive financial plan and the ability to track your progress digitally, whether your ambition is to own a home, help your kids pay for post-secondary education or save for retirement.”
CIBC is not the only online bank to launch a new financial planning tool; a number of competitive banks have also launched digital financial planning tools to support their clients.
TD Bank launched its GoalAssist app in Canada just last week, to help clients set goals and make investments. Also last month, BMO added a new WealthPath feature to its app, now offering clients a view of their financial plan after working it out with an advisor. BMO’s new planner also includes “adaptability features” that reflect a clients’ need for flexibility amid the pandemic.
Added Dottori-Attanasio, “As life changes, so will your financial goals and the path to get there. CIBC GoalPlanner simplifies the planning process and adjusts your financial plans to meet your evolving needs.”