MoneyGuidePro

(13)
4.2 out of 5 stars

Named the top choice of financial planning software for eight straight years, according to Financial Planning Magazine's annual survey. Why? We make financial planning engaging for the client.

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MoneyGuidePro review by <span>Elizabeth P.</span>
Elizabeth P.
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The best financial planning software for fee-only, no-minimum NAPFA advisors

What do you like best?

I love :

-setting goals as a confirmation that my initial due diligence with the client was correctly "heard" through data

-using the budget tool to make annual retirement expenses are "real"

-I also like the budget tool for helping our "money management" clients stick to a budget and we review monthly or less frequently to compare monthly averages year-to-date (I used to only use excel or google docs for this)

-I love the net worth portion of MGP

-I love the social security benefit analysis with certainty

-The What-If worksheet is extremely helpful for analyzing different scenarios

-We also use MyMoneyGuide with our financial literacy students and it's extremely helpful with the Video Lab

-I also use the Plan Summary to add in our regular notes (about 30-40 custom entries per plan, many are duplicates by plan)

-I really dig the way our Veo (TDAmeritrade Institutional) accounts sync well into a client's plan too

-We also integrate with RedTail CRM

What do you dislike?

-I find the real estate "mortgage" data entry rather limited. Typically clients provide the mortgage statement to be interpreted, and rarely does a single monthly mortgage statement include all of the information required for the mortgage data entry.

-I have yet to fully utilize the ISO/RSU workflows, but I have to admit, they seem a bit intimidating on the offset and I've been avoiding it.

-Plan Summary limitation: currently I use a Google Doc to track all of the custom entries I make into the Plan Summary with follow up items for clients. I do this so that I can copy/paste and enter into the Plan Summary for each client's plan. Ideally, there would be a MGP "database" of commonly added custom entries into Plan Summaries by license (but also across users) that would be extremely helpful for our practices purposes!

-Small thing, but it'd be nice to be able to access the Support Tools from a browser when logged into the MGP on my iPad, currently I cannot access.

-A minor irritation is that our RedTail CRM integration works well, except for our pro-active MyMoneyGuide users. It would be nice if our MyMoneyGuide new users could integrate and sync INTO RedTail CRM, currently I can only have an existing RedTail CRM contact sync into MGP and not from MGP to RedTail...though I realize I can manually enter MyMoneyGuide users into RedTail from MGP and then make sure the client is "matched" after the fact.

Recommendations to others considering the product

Commit to using the software and support curriculum. Also, make sure that you have a process to introduce your clients to the client portal.

If you use cash flow based retirement planning software, give goals-based a chance - the ease of data entry and flexibility for change analysis is striking!

What business problems are you solving with the product? What benefits have you realized?

Simplifying the "math" behind retirement calculus into a digestible print-out or PDF that looks professional and can operate as a "living document" as we council clients throughout their lives from initial financial plan, to plan implementation, on to monitoring.

Providing dual entry access between client and advisor to communicate over the long term about a client's budget (cash flow), financial plan/s, and investment management relative to financial planning goals as well as being able to make adjustments along the way.

A repository for all financial planning information so that our firm can emphasize the client relationship and counseling approach that our clients in our practice favor.

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MoneyGuidePro review by <span>Frances N.</span>
Frances N.
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MOneyguide review

What do you like best?

i like the planning software and being able to show clients what their percentage of success is to reach their different financial goals. it lets me run different scenarios based on what the client wants

What do you dislike?

i wish when you were changing states in retirement it was easier and could pick it for one scenario rather than all the scenarios.

Recommendations to others considering the product

this is a good software to use to show clients their financial situation. i wish it was better for client integration and clients using it

What business problems are you solving with the product? What benefits have you realized?

helping to provide advice to clients and show them their financial situation, helping to manage clients goals and what assets they have, provides insight of what a client needs to change in order to put themselves in a better financial situation

What Other Finance & Insurance solution do you use?

Thanks for letting us know!
MoneyGuidePro review by <span>Michelle K.</span>
Michelle K.
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Reviewed On

Financial Planning simplified

What do you like best?

I like the ability for clients to use the sliding scale to see various results.

What do you dislike?

I would like the ability to see when a client fully completes the questionnaire when I log in. When I log in I can see when they last accessed the account, but not whether it's complete. When I click their file to see if the information has been entered, if the income area is blank it doesn't allow me to proceed, but rather I have to close the window and reopen.

Recommendations to others considering the product

Allowing the client to be involved with the data entry is a win-win. Not only are they involved in the planning stages, they are more apt to follow the plan seeing as they had a part in it. The software greatly decreased our data entry time by allowing the client to do that part while decreasing the chance of errors or transpositions during the data transfer stage. We simply review the information entered for accuracy and completeness before going over the results. I appreciate the reports that are generated, as it also decreases the amount of work that is required on my part. Once live-time changes are made, we can print it on the spot. It has also assisted us in discovering outside held funds, many of which we have added to our models to get a more accurate projection of success.

What business problems are you solving with the product? What benefits have you realized?

Time and money. Prior to using MGP we spent much more time gathering data. If the data we received from the client was not complete, or better yet, had notes written on the form because they weren't sure how to answer a question, we spent even more time making calls. Allowing the client to enter the information decreased the amount we had to spend doing data entry, and increased the accuracy of what they "meant".

MoneyGuidePro review by User in Financial Services
User in Financial Services
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Verified Current User
Invitation from G2 Crowd
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Money Guide Pro - powerful computing with a friendly user interface

What do you like best?

Money Guide Pro provides the complex calculation of a personal financial plan with a great interface and workflow that makes both preparing the financial plan and sharing with your client very efficient.

What do you dislike?

The software is driven around planning for retirement. Some people believe the word retirement has a negative connotation and would prefer the term "financial independence". It would be great if you have the option to change the term "retirement goal" to "financial independence goal".

What business problems are you solving with the product? What benefits have you realized?

Preparing comprehensive personal financial plans for my clients. Many benefits, calculation that would be difficult if not impossible to calculate outside of Money Guide Pro, easy to understand reports, ability to "drill down" to get more detail.

MoneyGuidePro review by <span>Christopher C.</span>
Christopher C.
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Moneyguide Pro

What do you like best?

i love how moneyguide is a very easy visual for clients when showing them financial plans

What do you dislike?

the "newer" update does make things a bit confusing trying to set everything up. having so many options i think can hurt a bit when i's difficult to find places quickly

Recommendations to others considering the product

if you want a planning software that looks good with clients then this is where you need to look. once a plan is completed the clients will be wowed

What business problems are you solving with the product? What benefits have you realized?

were able to help put together comprehensive financial plans for clients and gain their trust usuing moneyguide to show them where they are and where they want to be

MoneyGuidePro review by Consultant in Financial Services
Consultant in Financial Services
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Verified Current User
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Reviewed On

Retirement Planning Tools

What do you like best?

MoneyGuidePro nailed it with this online retirement planning software. The capability to run all kinds of analysis and historical back testing and custom reports makes this a must have retirement tool to check out.

What do you dislike?

The program can be difficult at times take your time to learn the program and understand the different capabilities it has.

Recommendations to others considering the product

Get the software and take the time to learn it. This program is the best tool I have used to calculate retirement plans.

What business problems are you solving with the product? What benefits have you realized?

Learning and inputting the various integrations is time consuming but once in it cuts down your time.

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