Portrait of smiling woman in office with tablet
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Winnipeg-based IG Wealth Management has introduced a new online tool designed to give users a snapshot of their financial well-being in less than 15 minutes, the firm said in a release on Tuesday.

The IG Living Plan Snapshot uses a combination of advanced artificial intelligence and data algorithms to assess individuals on five criteria related to their household’s financial life and assign them a score of 0-100.

According to the release, users are evaluated on:

  • managing cash flow and daily spending;
  • planning for major expenditures such as real estate;
  • preparing for the unexpected with insurance and emergency funds;
  • optimizing retirement savings; and
  • sharing one’s wealth through a charitable giving strategy and estate planning.

“Financial well-being is about more than just investing and returns,” Jeff Carney, president and CEO of IG Wealth Management, said in a statement. “What makes the IG Living Plan Snapshot truly unique is that it provides a holistic and comprehensive measurement of all aspects of a household’s ability to realize its financial goals.”

In September, MoneyGaps —  an online tool that allows independent financial advisors to offer prospective clients a “lighter financial planning experience” — was launched by wealth management consultant Preet Banerjee.

The IG Living Plan Snapshot is intended for users who do not yet have a comprehensive financial plan or don’t think their current plan encompasses all aspects of their financial life.