Review Detail
Overall rating
4.1
Company
5.0
Interface
5.0
Integration
2.0
Pricing
4.0
Monte Carlo Simulation
3.0
Taxes
5.0
Asset Allocation
3.0
LTC-College Planning
5.0
Estate Planning
5.0
Switched from Money Guide Pro to Naviplan Select
I just switched from Money Guide Pro to NaviPlan select. There were features of MGP I thought were great, such as itemized goal prioritizing and asset class history, but there were things that just didn't cut it. MGP was very poor at anything having to do with short term cash flow planning. Plus I thought their report formats were not useful. Naviplan is great for short term planning as well as long term planning.
NaviPlan Pop-up reports are great for quick comparisons of newly-entered or what-if data. It is much easier to see how things are calculated and with what assumptions.
Report formats are much easier to go over with clients as well. Information is much more concise.
User Review
The Good
Easier to see how things are calculated. Better cash flow tools. Better for short term planning. User interface is easy and. Side by side what-ifs are easy. You can enter your own text (such as additional considerations) in the client reports. Pop up reports are outstanding - one of the best features. Much stronger in non-investment planning areas, yet does a fine job with longer term investment allocation planning.
The Bad
You either get Ibbotson data base with provided portfolio allocations or you have to build them manually. If you build them manually you will need to find your own historical data (returns, std dev, correlations). If you get the Ibbotson data based there is no editing their returns or portfolios (no manual portfolio builds). I chose to go with manual building of portfolios using an outside party for historical data. I started with the Ibbotson data base, but found none of their portfolios fit what I needed to do.
The Bottom Line
I found MGP to be very asset-allocation focused, but lacked in areas of insurance planning, estate planning and taxes. I am finding NaviPlan to be less focused but adequate on the asset allocation and very strong in the non-investment planning areas. Reports are much easier to read.
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