Some examples of what this new feature can help advisors show clients: Based on plan complexity, prices will vary, ranging from as little as $1,500 to $5,000+. With this in mind, it is common that GWS&A may charge a separate for the service. Depending on plan complexity, the GWS&A team spends 10 to 30+ hours from start to finish on the overall process. The program is incredibly powerful for modeling “What if Scenarios”. MoneyGuideElite℠ uses Monte Carlo analysis and runs at minimum 100 trials to determine outcomes, based on stochastic modeling, the likelihood of success with variable stock market conditions. This ensures that if your financial plan is reran or modified in the future, each new instance and scenario is based on a true and accurate representation of your current account values. At GWS&A, we feel that running a fee-based plan through this sophisticated software can help pre-retirees enter into retirement with additional confidence. It is also pricey to get all the features.MoneyGuideElite℠ has been rated “the top choice of financial planning software for eight straight years,” according to Financial Planning Magazine’s annual survey. The MoneyGuideElite℠ program has partner integration with eMoney. For clients that are already using eMoney as an account aggregator to see all of their assets/liabilities in one place, GWS&A is able to link your living balance sheet directly into your MoneyGuideElite℠ Plan. with the learning curve but it could be easier to use. It is difficult to have it both ways.Easy to use and Comprehensive. It is overwhelming and not as intuitive as other Financial Planning vendors. The other Con is the large learning curve for this software. I also sometimes hear from the client that they cannot find their institution. I am no longer having clients connect to their financial institutions because they always have to update the connections due to changes in their respective financial institutions' rules for password updates. They also provide instant help as opposed to waiting for them to call me back. If I have a question, the customer service team is extremely helpful and they are located in the United States. The customer service team does provide some implementation and understanding of the software. It is a full financial planning software that covers most, if not all, aspects of financial planning. I would like things to be more intuitive and less bulky but not at the expense of losing certain features. To date, it has cost me much time to set up (much of the data entry & setup was done by me) but has not served the intended purpose.Ĭomments: Based on my needs, I would probably not change vendors as this provides all aspects of financial planning. When working, it is aggregating income and expenses apparently inaccurately and "organizing" expenses in ways that do not jell with my bookkeeping. eMoney will not support individual clients without their financial rep on the phone at the same time, which eliminates all after hours and weekend support (the main times I am attempting to use the program). I have had issues with password and security questions not being recognized by the system, then lockout with no recourse. It was to have been my core tool to determine asset reallocation and tracking my big picture financially. I am a client who is paying a financial planner for access to eMoney. I have had constant connection issues with banks and brokerages to the point of making the software useless for my purposes. If it were working consistently, accurately and had adequate tech support, it might give a good overview of client financial status, asset allocation, etc. Nice idea, folks, but needs a whole lot of work and client-friendly interaction. They have been somewhat responsive to my financial planner, but the system appears to be very brittle when it comes to 3rd party aggregation and non-responsive to client emergencies. The system was down without warning (even when I phoned about issues) for 5 days. It is not intuitive-learning curve re: terminology and organization of the software is relatively steep. Comments: Overall a very poor experience-not available when I need it.
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