An adviser’s guide to the best financial planning software

With the rapid development of Fintech, financial advisers are constantly looking at the best technology to improve their services to clients.

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The financial planning software available offers essential tools for advisers who now recognise that they need the technology to calculate potential outcomes for their investment plans. Ideally, this will also help clients to understand the consequences of any financial decision made on their behalf.


The Financial Conduct Authority has suggested, however, that consumers do not really understand stochastic modelling when it comes to advice on pension provision and called for an industry-wide analysis of the prediction model last year.

Most advisers understand that financial adviser software such as that provided by intelliflo is essential for their business and also that they need to be able to communicate the information to their clients in a manner they understand. Having the programme available in real time and being able to assess results collaboratively with the client is one way of ensuring a relationship endures and is viewed as useful by the customer.

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Choosing the right software model for the business is essential because not all advisers specialise in the same areas of financial planning or interface with clients in the same way. The best programme will address the adviser’s needs and help to communicate decisions to the client list.


Within that group, advisers may be faced with individuals with different objectives. They might be looking to increase cash-flow or saving to cover future costs, such as a pension or college finance. The software used must be flexible enough to provide models to meet both sets of clients’ needs. Additional issues may include insurance and tax planning.

In the back office, the choice of software will also have an impact. Ease of input will enhance that department, and choosing a programme with a natural manner of logging data will ease the workload of a key section.

Clients are also increasingly interested in personal financial management portals, and these can vary in how much access they provide. Some clients may want to have greater access to the information stored rather than just a snapshot of their current financial plan.

Just as clients shop around to find an adviser, firms should look at several quotes from software companies and ensure they fit their own needs.

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