Review Detail
Overall rating
3.6
Company
5.0
Interface
3.0
Integration
3.0
Pricing
4.0
Monte Carlo Simulation
5.0
Taxes
2.0
Asset Allocation
2.0
LTC-College Planning
4.0
Estate Planning
4.0
The what-if tool is particularly useful for "on the fly" assumption changes during client meetings.
Don't expect this to be your only planning software, but it provides excellent value for the price.
User Review
The Good
Quick input, straightforward reports. As long as all data has been previously entered, it's an excellent tool to use interactively with clients. Seeing the effects of changes to assumptions as we're making them helps them to better understand our conclusions and recommendations, and the outcome is more diligence with implementation.
The Bad
The program accommodates only simple straightforward situations. It's possible to manipulate the input to cover issues that the software isn't designed to handle, but doing so often requires side calculations that must be separately documented.
The output does not provide sufficient details about potential solutions. For example, if the likelihood of achieving a client's retirement income goal using the stated assumptions is weak, the program does not quantify the amount of increased savings or increased investment return needed.
The output does not provide sufficient details about potential solutions. For example, if the likelihood of achieving a client's retirement income goal using the stated assumptions is weak, the program does not quantify the amount of increased savings or increased investment return needed.
The Bottom Line
Not just for new planners - the logic and methodology are sound, as long as the client's situation can be adequately covered within the limitations of the program. It's an excellent tool for the efficient analysis of basic circumstances.
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