Cashflow Planning Modellers
We are reviewing our external tools and already have the cashcalc suite however it is not ideal for the more complex cases involving stochastic planning and crossing tax bands.
Can anyone make recommendations to which tool they are using?
Comments
Have a look at Truth & Voyant if you want stochastic. You could also consider Timeline - not a CF tool but you might find it useful with retirement planning.
Paraplanner. F1, Apple, Nutella, ice cream. No trite motivational quotes. Turning a bit northern.
We moved from Truth to Voyant. Would never look back and find it a lot more user friendly and visually much better for clients than Truth. Both very comprehensive bits of kit but Truth just feels like a 1980s banking type system and is dated IMO.
We've just started to use i4c - really impressed with it so far. They've also just been bought by intelliflo I believe so have considerable financial backing.
https://i4csoftware.co.uk
I forgot to mention that. Had a brief look and they are doing things a little bit different. Not had time to do a detailed comparsion yet.
Paraplanner. F1, Apple, Nutella, ice cream. No trite motivational quotes. Turning a bit northern.
My experience is much the same. Moved from Truth to Voyant years ago and never looked back, despite being implored to by someone at the CISI paraplanner conference a few years ago.
Hi Andy, does this use stochastic forecasting, take into account tax bands and easy to navigate?
Thanks
We moved from Voyant to i4c and we find it easier to navigate
Thanks
What are the must have features in a cashflow tool for everyone?
Paraplanner. F1, Apple, Nutella, ice cream. No trite motivational quotes. Turning a bit northern.
All taxes built in are the biggest must.
Planning tools e.g. Voyant's Insights and I am rather fond of Voyant's Monte Carlo simulation. That, along with the historic function, appear to be the only ways to model variable investment returns. The Monte Carlo tool is really useful to compare two scenarios e.g. take DB income vs drawdown.
I had a play about with i4C and at the time I didn't think it stacked up as well as Voyant, but I was assured that more of these modelling tools would be coming. I expect the IO deal will provide the funds to do this, as well as improve the integration with IO. As IO users this could eventually be a deal breaker, but we have been using Voyant for the past 7 years and there is a lot of data in it.
Ability to bring client info across from iO. Saves so much time on the initial build. Taxes are a must.
How it looks in front of a client (Adviser Go works better than Voyant once you're used to the differences). But then again, we've used paraplanning resource recently for meetings to "work" Voyant so that the paraplanner can make adjustments whilst the adviser keeps listening.
Like Tom, we've used Voyant for a long time now and it would have to be something pretty amazing to make us change.