Poll: Financial planning software

by Richard Allum on 29 February 2008

This weeks poll looks at the popularity of the various software tools available for financial planning. We are looking here primarily about lifetime cash flow forecasts and shortfall analysis. I have used all of the tools shown in the poll and have my own views on the pros and cons of each which I will share in a future article. For now though, please visit the forum by clicking here and add your vote and comments.

{ 4 comments… read them below or add one }

Duncan Hannay-Robertson 20 June 2008 at 18:01

Am very interested in the results of the most preferred/best lifetime cash flow modelling software

Richard Allum 24 June 2008 at 7:11

Hi Duncan,

We had a real mixed response on this one. I have been quite surprised at the relatively small number of paraplanners involved in this area and can only assume it is still a ‘niche’ advice area. However, the results showed that the two most popular software tools for lifetime cash flows are Truth/Prestwood and Excel. Other people are using PlanLab and Dynamic Planner but to a lesser extent. Personally, I use our own tool created within Excel which does the job for us!

Ian Lees 10 July 2008 at 14:30

Hello Richard ( and Duncan )

I have been using Prestwood Software to carry out our Income Expenditure and Lifetime cashflows, andwhat if scenarios.
I have an excell spreadsheet which can do the job, but when you are with clients I feel it is important to pass over the information in a way which the client understands, with ease. Prestwood does this whereas the excell spreadsheet is designed for number crunchers, engineers or scientific types. I like the option for our clients.

Ian Lees

Richard Allum 17 July 2008 at 9:32

Hi Ian,

Good points – I think Prestwood/Truth is the best of all the tools for showing scenarios to clients. I have developed Excel on a bit and now have interactive forecasts similar to Truth but a bit prettier and easier to use. I plan to post some examples here soon for people to see.

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