What is everyone's thoughts on the best cashflow software?
I have been asked to review what we use currently (Cashcalc and FinCalc) so I am comparing these to the following:
Voyant - Which I have used before.
Timeline - Which I haven't used before
I4c/Intelliflo Planning - Again never used before.
We are looking for a simple system to stress test retirement income (I'm currently thinking Cashcalc) and a more advanced system to carry out scenario analysis for clients who want to look at things in more detail (whcih I am currently thinking would be Voyant).
To be honest I can't really see past Voyant for the more complicated stuff.
I'm running a case where a 48 year old client is wanting to know if he can retire at 60 on £40k per annum on all of the above systems. The client has a couple of DC pensions and an old DB scheme however we don't know the projected benefits for the DB scheme at age 60.
So far Voyant seems to be the best at estimating the DB scheme, something Cashcalc and Timeline can't (or at least I can't work out how to do!).
Downside is the time taken to key in the details and having to add in asset class assumptions.
I4C/Intelliflo Planning doesn't seem to have much in the way of stress testing nor does it seem to be able to model randomised returns.
Timeline has loads of stress testing but carrying out different scenarios seems to be quite difficult, as does modelling things like using ISA allowances, selling businesses etc.
Am I missing anything?