Financial Planning Software

Best Financial Planning Software is any program capable of financial calculations and projections across a range of accounts. These can include credit cards, investments, loans, college expenses, and Social Security in a single interface.

Why use financial planning software?

Today’s modern technology has set a high bar for advisor and client expectations when it comes to the financial planning software they use. In addition to the basic calculator for completing financial calculations and projections, advisors expect a collaborative tool that offers real-time analytics and decision making, archiving, document storage, and screen share capabilities.

Client-facing features that render contextually on any device in a mobile setting are a must for client experience. Integrated tools that automatically update account information for an all-in-one financial picture powered by a centralized repository of investment data are also key.

Goals-based or cash-flow-based financial planning software can help clients map out a roadmap to reach their goals. These systems track each client’s current earnings and estimate future financial results based on their goals.

Step 2: The CFP Board has identified the process of setting goals as critical to the success of a financial plan. As a result, it is essential for financial planning software to have a feature that links goals directly to funding plans, providing a critical and dispassionate perspective on the viability of each goal under existing habits.

Financial Planning software should be scalable to address the needs of a wide range of clients across the entire wealth cycle, from the earliest days of accumulation when goal-oriented planning is most important to later phases of retirement distribution where cash-flow planning will be the primary focus. As a result, financial planning software should provide ample flexibility to tackle the most challenging needs and issues in any practice environment.