BMO InvestorLine today launched a comprehensive online retirement planning tool. According to the online brokerage, the Retirement Planner offers self-directed investors the ability to make more informed and disciplined decisions based on long-term goals.

“The Retirement Planner is a unique online offering, an advanced tool that helps guide investors to their ultimate financial goals,” said Tom Flanagan, president and COO, BMO InvestorLine. “The Retirement Planner is an innovative virtual solution for self-directed investors, providing a highly detailed assessment of an investor’s retirement plans and assists in creating an actionable, customized financial roadmap. It is focused on the needs of the investor and adding value at no cost.”

The planner also helps investors manage change in the market and in life circumstances, and monitors progress on an ongoing basis.

The planner provides a detailed assessment of a client’s registered and non-registered assets earmarked for retirement income. It then generates a snapshot of the client’s current position and goals. A questionnaire helps define a suggested asset allocation based on the type of investor, risk tolerance, level of investment knowledge and the timing of retirement income need.

The client’s score is generated and compared to numerous investor profiles and matched to a corresponding profile. A comparison is drawn between the investor’s existing asset allocation and the model suggested by the profile for both before, and after, retirement. The investor can choose either of these or can create an entirely different asset allocation that they feel is best suited for their needs. Using this asset allocation for both registered and non-registered assets, the Retirement Planner then calculates the savings the client will need to meet their projected retirement goals.

Clients can revise their plan to see the results under different scenarios. Once they have finalized their customized plan, they can save the results and return to the plan for regular updates and monitoring. With their plan in place, clients can link to mutual fund, fixed income and equity selectors to implement their portfolio strategy.

“Faced with market volatility as well as recent economic uncertainty, self-directed investors recognize the necessity of long-term financial planning and the Retirement Planner is the solution,” said Flanagan. “By offering credible, objective and comprehensive online financial planning, beginning with this tool, we are helping knowledgeable investors in search of ongoing guidance and support.”

BMO InvestorLine has also expanded its research offering with the addition of Zacks Investment Research. Clients can now access extensive analysis on more than 10,000 Canadian and U.S. companies, including company profiles, earnings estimates and buy, sell and hold recommendations.