Every financial advisor knows having a plan for your funds is essential. A complete financial plan may include budgeting, saving, investing, paying off debt and retirement planning. But how do experts handle all this planning, and what platforms do they use?
Well, you have many choices and they all offer a unique set of benefits. As a financial adviser, you have access to various financial planning tools to assist you in managing your customers’ money.
To help streamline your operations and make your services more appealing to today’s wealth management clients, we’ve compiled a list of some of the best software for financial advisors, broken down by category.
Practice management software
FuseBase (formerly Nimbus)
FuseBase (formerly Nimbus) is a client collaboration tool that embraces a few key practice management software features. It stands out among financial planning software programs as an exceptional client collaboration software and Practice Management tool, boasting two functions in one streamlined tool. FuseBase (formerly Nimbus) recognizes the necessity of team collaboration for success in financial advising. We take an integrative, client-centric approach with FuseBase’s (formerly Nimbus) suite of products.
FuseBase (formerly Nimbus) offers advisors efficient means of building strong client relationships by encouraging open dialogue, data sharing and presenting a holistic overview of each client’s financial journey. By prioritizing client needs and interactions, this management software streamlines administrative tasks and enriches client experience—setting it apart as the go-to option for client-oriented businesses.
Who uses FuseBase (formerly Nimbus)?
FuseBase (formerly Nimbus) is primarily a platform for client collaboration businesses, which makes it one of the best financial planning software solutions (used by financial advisors, advisory firms and client services teams in financial advisory services) to streamline practice management, enhance client collaboration and maintain brand consistency.
- Super documents. Even though FuseBase (formerly Nimbus) is not primarily a document management software, it offers great document management features. Converge multiple types of information onto one page—text, photos, audio/video files and PDFs. Organize page content, while buttons/tips/toggles help guide clients through pages and highlight crucial information, helping improve productivity.
- Client Portals. FuseBase (formerly Nimbus) offers no-code client portals that improve client experiences while simultaneously helping financial advisors promote services and keep project information current with clients.
- Permission management. FuseBase (formerly Nimbus) provides a clearly laid out hierarchy for access control and permission management, so setting workspace and folder editing privileges with fine-grained permissions ranging from complete editing to viewing is simple and enables employees to focus on their work without worrying over critical data security concerns.
- Kanban boards to Keep Track of Project Workload. By allocating resources and avoiding task overloads, kanban boards allow you to visualize progress effectively while pinpointing bottlenecks as quickly as possible—customizing workflows per any given project and organizing tasks according to assignee, status or initiative.
- Free plan is available
- Paid plans start from $9/user/month
Morningstar Office is one of the advanced financial planning software programs designed exclusively to serve Registered Investment Advisors (RIAs). Utilizing Morningstar’s vast data, advanced analytics and ratings as a basis for portfolio management software and practice management, Morningstar Office helps RIAs maximize client reporting capabilities by using research analytics in managing portfolios efficiently. Also, Morningstar Office provides powerful document management software with tools for organizing and accessing financial documents as part of its core advanced planning features. Any financial advisor can significantly benefit from having Morningstar Office financial planning software at their disposal!
Who uses Morningstar Office Cloud?
This portfolio management software is excellent for financial advisory firms using specialized practice management software to benefit from account analysis, security screening, tax-aware rebalancing, portfolio development and what-if analysis.
- Financial goal planner. All clients have financial goals, even if they don’t need complete financial planning services. Morningstar’s Goal Bridge allows you to have conversations about goals with your clients and then connect these goals quickly to a plan that is easy to understand and that clients prefer for portfolio management.
- Reduce time spent on back-office tasks. Outsource daily data imports to Morningstar. Automated basic tasks allow you to focus on selecting investments, marketing and relationships.
- Accessible Reports. The most popular report for clients shows the impact of taxes on households over a specified period.
- Drill-Down Analysis. Look deeper into your models for more details on the tax implications of a proposed open trade. You can view the current, target and post-trade values for each subclass and all the trades necessary to reach your goal.
Contact Morningstar Office to get info about pricing.
The financial industry can benefit from Creatio’s software for financial advisors solution by improving customer service and retail sales and creating and executing multichannel marketing campaigns. The platform’s adaptability in client segmentation across multiple dimensions enables targeted client communication via the most appropriate channels at optimal times.
You can buy Creatio products alone or as part of a complete Customer Relationship Management (CRM) Software that automates customer-facing and internal business processes with zero programming. This is the right financial planning software for organizations to digitize workflows, enhance customer and employee experiences and increase productivity across all business divisions with the help of Creatio’s products, packed with powerful no-code tools and out-of-the-box capabilities. Non-technical users can make robust business apps using Creatio’s drag-and-drop visual design tools and no-code UI builder.
Who uses Creatio CRM?
Creatio financial planning software applications are highly adaptable and easy to use, allowing businesses of any size and industry to manage client-facing activities better and provide a superior customer experience.
- Marketing. The platform is one of those digital tools that requires no coding and gives you complete control over automating your marketing campaigns and lead management processes.
- Sales. A code-free, fully customizable, end-to-end platform for automating all aspects of the sales process, particularly in personal finance.
- Infinite, no-code personalization. CRM Creatio provides a robust collection of no-code tools for UI/UX development, workflow automation, data modeling, integrations with other software and more, allowing users to build their own custom business applications on top of the platform.
- End-to-end workflow automation. Create and automate complicated workflows for various customer relationship management (CRM), operational and industry-specific use cases and channels.
- Sales Creatio – starts from $25/user/month
- Service Creatio – starts from $30/user/month
- Marketing Creatio – $916/year
- Studio Creatio – starts from $25/user/month
You won’t find a better CRM for a young business in the financial services industry. In terms of strengthening ties with customers, it’s hard to beat. Junxure is useful for keeping track of activities and collecting financial data. As a result, automated financial plans and advice are provided in real-time. You can use it to keep track of your tasks and set reminders. Junxure financial planning software provides several personalization possibilities to help users expand their client base. You can customize themes for social media posts and email marketing and easily acquire customer data in a short amount of time.
Who uses Junxure Cloud?
One of the best financial planning software options for Wealth Managers, Financial Advisors and Registered Investment Advisers.
- Workflow Automation. With these customizable workflows, they can automate routine tasks and processes for greater efficiency by eliminating manual data entry while making sure no key steps in managing client assets and financial plans go overlooked.
- Document Management. Junxure provides every financial advisor with excellent document management solutions to securely store and organize client-related documents, accounts, compliance regulations and more. It enables easy document retrieval as well as compliance with record-keeping requirements.
- Compliance Tracking and Reporting. Assist advisors with managing compliance-related tasks and reporting, from tracking deadlines and meeting regulatory requirements to creating custom report templates as needed.
- Junxure’s Integration Capabilities. Junxure has earned recognition for its seamless integration capabilities, seamlessly interoperating with various third-party financial planning and reporting tools, custodian platforms and other financial advisory industry software applications.
- You can schedule a demo
- $65/user/month, billed annually
It is a CRM system for financial planners. This is one of the financial planning tools that works well with existing sales force automation and forecasting systems. In addition, it manages pipelines effectively. Ugru can help automate your email marketing and bring in more clients. The search and filter functions in the CRM are beneficial. It’s easy to import data in bulk and takes very little time. You can use the available features like lead retrieval and lead referral routing to get more potential customers interested. Pipeline activity and campaign effectiveness data are obtainable. Ugru is one of the best financial planning software that keeps integrating more and more features. Tools for managing personal finances are also included and numerous tools exist to facilitate budgeting and other related calculations.
Who uses UGRU?
With a particular focus on the Financial Services industry, UGRU provides its services to all multi-advisor firms and SMEs.
- Data Management. All of the client information can be stored in one place, where it can be easily created, retrieved, updated and managed, including information related to client portfolios.
- Lead Management. Track potential and new clients from their initial contact to purchase. As a result, the sales staff can follow up with prospects and increase the deals they close.
- Territory Management. Accounts can be assigned to specific people, teams, or regions and those people’s responsibilities, calendar events, tasks and status updates can be readily reallocated to other people or groups.
- Sales Forecasting and Pipeline. With UGRU CRM for Financial Advisors, it is easy to predict your sales and cash flow with its handy tracking of contacts, their stage in the sales cycle, the amount of opportunity presented by each contact, whether this sale would be one-off or repeatable, etc.
- CRM Plus – $59/month, includes three users
- Performance – $139/month, includes three users
- Professional – $179/month, includes three users
- Advisor Pro – $324/month, includes three users
Financial planning software
MoneyGuidePro is an advanced financial planning software platform used by numerous professional advisors worldwide and trusted by their clients alike, providing access to comprehensive plans developed using different models, scenarios and capital market assumptions—MoneyGuidePro makes creating them effortlessly! In addition, MoneyGuidePro gives advisors tools for goal-based planning that take investment performance as well as risk tolerance into consideration while creating comprehensive plans with ease and accuracy for their clients.
Who uses MoneyGuidePro?
Financial advisors who wish to use this financial planning software for risk management purposes. It allows them to customize portfolios, generate net worth statements, analyze life insurance policies and much more.
- Advanced Planning. MoneyGuidePro takes an outcome-focused approach to the financial planning process. Advisors work directly with their clients to identify financial goals such as retirement, college savings and significant life events they would like to attain. They then create detailed plans that outline steps necessary to accomplish these objectives, considering the client’s risk tolerance and tax loss harvesting.
- Retirement Complex Planning. It helps advisors project and optimize retirement income sources like Social Security, pensions and other investments for optimal retirement planning.
- Scenario Analysis. MoneyGuidePro offers advisors the capability to run scenarios to evaluate potential outcomes of various financial decisions and market conditions on clients’ plans, providing advisors and clients alike with more informed decision-making abilities based on potential scenarios.
- Tax Planning. The software equips advisors to use various tax strategies to decrease tax liabilities while increasing after-tax returns for their clients.
- You can request a demo
- Contact MoneyGuidePro to get pricing info.
NaviPlan by Advicent provides comprehensive financial planning software programs used by financial advisors to create personalized plans for their clients, including in-depth and holistic stress testing.
NaviPlan’s highly accurate calculation engine equips firms to meet client needs, ranging from goal-oriented assessments to complex cash flow planning analyses.
Who uses NaviPlan?
All Sized Registered Investment Advisors and Broker-Dealers Serving Clients of Any Size.
- Monte Carlo simulations. Use this to assess the likelihood that clients’ wealth management and financial goals can be reached, helping advisors and clients understand the range of potential outcomes as they make necessary adjustments and adjust as required.
- Client Collaboration. NaviPlan offers a client portal designed to facilitate collaboration between advisors and their clients, giving clients access to their plans, tracking progress and uploading relevant documents—increasing transparency and increasing engagement with advisors and clients.
- Secure Data Management. With secure storage, monitoring compliance status reports and reporting, advisory firms meet regulatory standards more easily. This solution ensures firms meet compliance obligations effectively.
- Integration Capabilities. NaviPlan offers seamless integration capabilities with other financial planning software that make it possible for advisors to work effectively within their existing software stack, increasing both efficiency and data accuracy during planning processes.
Contact NaviPlan to get more info about pricing plans.
Intuit’s QuickBooks is an all-encompassing accounting and money management program widely utilized by organizations of all sizes to streamline bookkeeping, accounting and other financial operations. QuickBooks Online financial planning software makes keeping up with small businesses easy whether on the move or sitting behind a desk, offering both intuitive and powerful capabilities such as invoicing customers for services rendered, monitoring stock levels and processing payroll—keeping track of small business finances from any location! It will streamline processes while saving time during expediting payment.
Who uses Quickbooks Online?
This software program stands as one of the top financial planning solutions and serves as the industry standard in small business accounting and financial management.
- Invoicing and Payment Processing. QuickBooks cash flow-based software enables professional invoicing and payment processing by creating professional invoices electronically for clients to review and supporting regular billing cycles for recurring billing cycles, helping businesses create efficient financial plans.
- Track Expenses. QuickBooks integrates directly with bank and credit card accounts so transactions can be automatically imported for reconciliation purposes.
- Financial Reporting. QuickBooks’s various financial reports offer insight into any company’s finances’ health.
- Tax Prep and Reporting. QuickBooks makes tax prep simpler by organizing financial data efficiently, offering features such as sales tax tracking and calculation, as well as supporting filing tax reports and returns.
- Simple Start – $15/month
- Essentials – $30/month
- Plus – $45/month
- Advanced – $100/month
The time spent on client projects and the efficiency with which you reconcile your bank and manage your financials may be gauged by using FreshBooks. Advisors can use this system to keep tabs on bills and charge customers correctly.
FreshBooks is a web-based financial planning software specially made for sole proprietors, independent contractors and consultants. Its intuitive design and powerful features make managing customers’ personal finances and communicating with customers much more effortless.
Who uses FreshBooks?
Any company would benefit from using FreshBooks’s great financial planning software because it is a cloud-based solution tailored specifically for small businesses and advisers.
- FreshBooks can be easily integrated with online transactions. Customers can use the FreshBooks Payments solution to pay directly from their bills, and the service will log the transaction automatically. It’s quick, easy, safe and well-integrated.
- Make Instantaneous Payments Online. Credit card payments can be accepted on invoices with the press of a button. After entering a few details, FreshBooks will electronically transfer funds to the designated account. As would be anticipated, the process is quick and easy to understand.
- Know Your Metrics. You can check your progress without bothering your accountant. With FreshBooks, you can see at a glance how much it costs to run your business, make educated decisions based on data and track all of your expenses.
- Lite – $8.50/month
- Plus – $15/month
- Premium – $27.50/month
- Select – Contact FreshBooks to get a custom quote
Bonus: Software powerpack for financial advisors
FuseBase (formerly Nimbus)
FuseBase (formerly Nimbus) is a client-oriented platform specifically tailored to address the needs of business consultants, including financial advisors. FuseBase (formerly Nimbus) stands out among other tools as an outstanding choice of client collaboration software and practice management tool, prioritizing building stronger client relationships through Client Portals, Super Documents, robust permission management capabilities and Kanban boards that streamline project management—making FuseBase (formerly Nimbus) an exceptional option. This comprehensive set of capabilities makes FuseBase (formerly Nimbus) an outstanding selection when seeking to grow clientele for financial advisors.
Junxure stands out as an exceptional CRM solution for small financial services, particularly for strengthening client relationships and streamlining processes. It excels in collecting financial information such as real-time advisor tips and task management reminders; providing customization options for email marketing and data segmentation for more efficient searching; automating workflow processes such as document management with full compliance tracking reporting as well as seamless integration capabilities—not to mention providing a 30-day free trial period making this interactive tool one of the top choices among its category!
MoneyGuidePro is a top financial planning software tailored specifically for financial advisors. The program excels at goal-based planning for income strategies by optimizing income sources while considering tax efficiency strategies, scenario analysis and robust tax planning tools—helping financial advisors craft customized, comprehensive plans explicitly tailored to client’s goals and objectives, making MoneyGuidePro an undisputed leader among its counterparts in the software landscape.
Financial advising is rapidly developing and choosing financial planning software tools can make all the difference in its evolution. From comprehensive financial planning to efficient client relationship management, top software for financial advisors offers various features and benefits tailored specifically for them—FuseBase (formerly Nimbus) excels with client collaboration features. At the same time, Junxure Cloud shines at workflow automation and compliance tracking and MoneyGuidePro helps professionals provide goal-based financial strategies explicitly tailored for advisors. These tools demonstrate how technology has revolutionized the financial advisory landscape as it continues transforming into today’s professional landscape.