MoneyGuidePro Reviews

MoneyGuide provides multiple planning tools to leverage with clients. To capture all client's assets/liabilities in one place and to have the ability to run various scenarios is very useful.

There are so many different tools/scenarios it can be cumbersome at times

MoneyGuide solves the issue of helping clients assess if they will run out of money in retirement. Also, it helps put everything in one place that can be updated/refreshed with clients as needed.

It's thorough but also client-friendly.

I wish it were a bit easier to plan on the fly with clients. I find navigating and updateing results a bit tedious when clients are at the table.

REtirement planning, investment account organizing along with many other planning issues.

Easy to use and for clients to understand

Account Aggregation does not work well always.

Mostly retirement planning for clients, though I am able to work on other financial planning issues as well.

I think the data entry format is excellent. It is designed to be very user friendly and client focused

The tool is user friendly but has a lot of areas that need to be updated to ensure the software is modeling your situation properly and as intended.

I use the software to analyze my clients holistic financial situation. I have realized that the conversation focused data entry is beneficial for my clients self realization of their situation.

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

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.

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.

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".

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

-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.

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!

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.

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.

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

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

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

The software is easy to use and client's enjoy how in dept the reporting capabilities are

MoneyGuide Pros servie team is exceptional, we have to call them on occasion as there are some scenarios we do not know how to create and it may not be the easiest for work through on your own without the assistance of their service team

We use the software to analyze clients retirement income projections and build allocations based on the plan

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.

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".

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.

Goals-based software is very easy to understand for clients. Data input is quick and easy.

Lack of ability to explore tax impact of certain strategies.

If you are interested in easy to use, goals-based planning software, this is the tool. If you're more interested in a cashflow based tool, this is not for you.

Using MGP makes the production of financial plans much more efficient.