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.
Poll: Financial planning software
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{ 4 comments… read them below or add one }
Am very interested in the results of the most preferred/best lifetime cash flow modelling software
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!
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
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.