Whealthcare Planning LLC Introduces Industry First Health and Elder Care Financial Planning Platform
Belmont, Ma (PRWEB) June 15, 2017 -- Whealthcare Planning LLC, a technology company specializing in developing financial planning and behavioral assessment applications, announced today that its comprehensive Whealthcare Planning platform is available for access by financial advisers and planners. The cloud-based platform offers a suite of financial and life-planning tools that help advisers address growing client needs around fraud protection, financial caretaking, long-term care cost estimation, health care cost control, and the identification and management of diminished financial decision-making capacity.
The platform consists of three modules: Financial Caretaking, Whealthcare Risk Profiling, and Long-term Care Planning.
· The Financial Caretaking application enables users to identify trusted contacts and establish the criteria for managing the transfer of financial decision-making authority. It outlines the steps individuals have already taken, and specifies the tasks they need to complete to get ready for the day when they can no longer manage finances on their own.
· The Whealthcare Risk Profile tool identifies behavioral traits that could place a person at higher risk for financial exploitation. It is designed to help advisers quickly detect signs of diminished capacity and thereby prevent the financial exploitation of older adults. The assessment is based on a study recently conducted at the Massachusetts General Hospital.
· The Long-term Care plan identifies the levers - including living preferences, quality of life directives, and attitudes towards medical treatment - that enable you to control the costs of your health care. It also incorporates these factors, along with life expectancy, health status, and region, to generate personalized health care cost estimates, including long-term care cost scenarios.
The Whealthcare Planning platform was developed in close cooperation with thought leaders in wealth management, psychiatry, health care and geriatrics, including Carolyn McClanahan, Director of Life Planning Partners and co-founder of Whealthcare Planning LLC. Some of the tools and training materials, including checklists and conversation scripts, were developed in collaboration with the Massachusetts General Hospital. The Whealthcare Risk Profile tool is based in part on a study that was conducted at the Massachusetts General Hospital entitled "Cognitive Function as a Proxy of Financial Decision Making in Older Primary Care Adults", which examined the relationship among aging, cognitive impairment, and financial decision-making.
About Whealthcare Planning LLC
Whealthcare Planning LLC is a financial technology company jointly owned by Cogniscient and CMCC Ventures Media, LLC. The company's mission is to develop innovative, cloud-based applications that help to protect older adults and their families and enable them to make the best possible financial decisions. For more information visit http://www.whealthcareplan.com.
Chris Heye, PhD, Whealthcare Planning LLC, http://whealthcareplan.com, +1 617 484 4893, [email protected]
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