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CCH ENTERACT™ Enhancements Include Monte Carlo Simulation
(RIVERWOODS, ILL., May 7, 2002) – Financial planners whose
clients live in the real world need planning software that takes that
fact into account, says CCH INCORPORATED (CCH), a leading provider of
financial and estate planning information and software. To help
professionals contend with a host of uncertainties – markets and
interest rates that go up and down, people who live longer than an
actuarial table predicts, colleges that raise their tuition more than
anticipated – CCH has incorporated powerful Monte Carlo simulation
capabilities into the latest release of its CCH EnteractTM
financial planning software. (For more information or to order CCH
Enteract, contact CCH at 800-449-8114 or visit the CCH Online
Store at onlinestore.cch.com.)
"Monte Carlo simulation plugs in many possible values for the
variables in a plan and runs hundreds or thousands of scenarios, using
the power of personal computers to model real-world outcomes,"
said Gail Fink, marketing manager of financial and estate planning for
CCH’s Federal and State Tax Group. "It’s a powerful tool that
can show the likelihood of a given plan reaching a given financial
goal, and also show how a change in the plan can improve the odds for
The Monte Carlo simulation tool used in CCH Enteract is
Crystal Ball®, by Decisioneering, one of the best known
and most trusted software tools for performing Monte Carlo simulation.
Decisioneering products are used by over 85 percent of the Fortune 500
for forecasting financial outcomes.
"Although it has extremely powerful capabilities, Crystal Ball
is also very easy to learn and easy to use," Fink noted.
See Changes As They Are Entered
CCH Enteract is a CD-ROM-based integrated planning system
designed to allow planners to see how changes in client data affect
planning scenarios immediately and interactively. It models financial
scenarios based on client data and produces compelling charts and
graphs to illustrate and support recommendations. CCH Enteract
supports integrated retirement planning, asset allocation, investment
performance analysis, income tax analysis, cash flow analysis,
education funding and more. It can produce integrated plans involving
several types of goals, such as planning for retirement and funding a
college education while simultaneously determining the need for life
"Enteract’s design allows planners to apply Monte Carlo
simulation to questions such as life insurance, long term care and
college funding planning, not just to retirement planning," Fink
What’s more, extensive customization options make it possible for
a planner to "tweak" client data and immediately see the
effect of the change on an entire plan in real time, allowing
"what-if" scenarios to be presented interactively.
Output Enhanced, Input Easier
In addition to Monte Carlo simulation, the latest release of CCH
Enteract offers enhanced abilities for creating scenarios and
reports while it streamlines data input.
With the powerful Scenario Manager, planners can adjust more
than 80 financial variables to develop virtually unlimited
"what-if" scenarios, then calculate and graphically display
the results immediately. Fine-tuning adjustments result in immediate
updates to sophisticated charts and graphs that demonstrate clients’
needs and goals clearly and persuasively. One enhanced reporting
function allows planners to show clients how money flows through
hypothetical estate plans, using flow charts and pie charts to
demonstrate where leaks and hazards lie in a way that clients can
With the latest release, the data input process is also easier and
more secure than ever. Because the planning software is fully
integrated, the data gathering and input process is streamlined.
Features such as intelligent client data forms that are matched to the
input screens, organized by logic driven tabs, all work together to
enhance efficiency. Users get a higher level of accuracy because the
unique Input Checker highlights potential errors and omissions,
alerting them to any possible oversights.
For users of other CCH products, such as CCH ViewPlan™ estate
planning software or CCH ProSystem fx® Tax, the
premier tax compliance software, data entry with Enteract gets
even easier. CCH Client DataXchange eliminates the need to rekey data
that has already been entered in any one of these three programs. This
means that a ProSystem fx Tax user who purchases CCH
Enteract does not need to re-enter the names, addresses, Social
Security numbers and so on of his or her current tax clients. They can
all be transferred effortlessly from the existing tax files.
Availability and Pricing
For more information or to order CCH Enteract, contact CCH
at 800-449-8114 or visit the CCH Online Store at onlinestore.cch.com.
A one-year subscription is $1,045 plus applicable tax, shipping and
About CCH INCORPORATED
CCH INCORPORATED, headquartered in Riverwoods, Ill., was
founded in 1913 and has served four generations of business
professionals and their clients. The company produces more than 700
electronic and print products for the tax, legal, securities,
insurance, human resources, health care and small business markets.
CCH is a wholly owned subsidiary of Wolters Kluwer U.S. The CCH web
site can be accessed cch.com.
The CCH federal and state tax web site can be accessed at tax.cchgroup.com.
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