Holistiplan, known primarily for its tax planning software, has been recognized with a 2025 WealthManagement.com Industry Award (the “Wealthies”) for its insurance and personal risk review capabilities. The award, announced at a gala in New York City, acknowledges the platform’s role in helping financial advisors identify coverage gaps and integrate risk management into comprehensive financial planning.

WHY THIS MATTERS FOR FINANCIAL ADVISORS

The recognition comes as advisors face mounting client demand for insurance guidance. According to a 2021 Spectrum study, 72% of clients ask their advisors about insurance coverage, yet only 2% of advisors actively address property and casualty needs in their planning process.

“Advisors care so much about their clients, but until now they have not had a trusted partner like Holistiplan to provide unbiased, honest input from a financial perspective when talking to their clients about personal insurance,” said Meaghan Dowd, Author of Protect Your Lifestyle- Make Empowered, Educated and Effective Personal Insurance Decisions and the Master Chef of Personal Insurance. “The truth is, if insurance isn’t discussed and thought about, it can disrupt an entire financial plan.”

WHAT SETS THIS TOOL APART

Holistiplan’s insurance module functions as a needs analysis system rather than a simple pricing comparison tool. The platform reviews declaration pages from any carrier – whether direct writers like State Farm or insurance brokers offering policies from entities such as Safeco, Travelers, and Chubb – and in under 60 seconds, advisors can upload declarations and promptly receive fully formatted insights.

The system analyzes over 50 lifestyle questions across auto, home, landlord, and umbrella policies to identify potential vulnerabilities. Common gaps the tool identifies include:

• Outdated replacement cost valuations on homes
• Missing coverage for rental properties, including Airbnb and VRBO operations
• Exclusions for lifestyle additions like trampolines or pools
• Inadequate umbrella coverage for households with young drivers or domestic employees
• Deductibles mismatched to clients’ financial capacity

DISTINGUISHING REPLACEMENT COST FROM MARKET VALUE

The platform also includes a Cotality integration that calculates accurate replacement costs independent of market value or property tax assessments, a distinction particularly important in high-land-value markets like California, where Zillow estimates can overstate or understate actual rebuild costs by hundreds of thousands of dollars. The tool provides detailed breakdowns of construction materials and costs, including often-overlooked factors such as debris removal, giving advisors concrete data to share with clients, who can then share it with their insurance professional to align their dwelling limit with the true rebuild cost.

“The Holistiplan system gives advisors the tool they need to help clients align on an accurate cost to rebuild their home. It doesn’t care about the land, but it does care about debris removal—that’s a huge cost that people overlook,” said Dowd. “Now your clients can go back to that insurance professional with insight into what the insurance industry is seeing from a rebuild cost versus market value.”

MAKING CLIENTS “PROSUMERS” OF INSURANCE

The platform’s goal is to transform clients’ awareness, moving them from passive or only partially informed consumers into informed “prosumers” who make proactive decisions about insurance and related risk management factors. The Holistiplan tool supports advisors in having meaningful conversations about whether clients can afford certain risks, such as hosting large gatherings or maintaining rental properties, rather than defaulting to coverage decisions.

For advisors new to insurance conversations, Holistiplan offers a seven-day free trial. Learn more about Holistiplan’s Insurance Planning tool here – or tune in to this Swift Chat video interview with Meaghan Dowd and host Marie Swift.