MONEY GUIDE PRO VS EMONEY SOFTWARE
MONEY GUIDE PRO VS EMONEY PLUS
MONEY GUIDE PRO VS EMONEY FREE

One user notes, “It's a little tricky to learn at first - there are so, so many layers”. Some MoneyGuidePro reviewers on G2 comment on the difficulty of getting started.

MONEY GUIDE PRO VS EMONEY FREE

Support and training (including our webinars) are always free and our help center is intuitive and well-organized. The onboarding specialists will make plenty of time for follow-up calls if you would like some extra support as you get started. RightCapital advisors are usually comfortable working within our platform in less than a month. RightCapital also has the following features that are not available within MoneyGuidePro:Īdvanced Social Security optimization such as government pension offset, windfall elimination provision, etc. A G2 user notes a dislike of MoneyGuidePro is the “Lack of ability to explore tax impact of certain strategies”. While MoneyGuidePro has Roth conversions, it lacks the interactivity and visual outputs. RightCapital also includes future tax projections including sample tax forms such as the 1040. The biggest difference you’ll see between RightCapital and MoneyGuidePro when it comes to tax-planning is that RightCapital offers an interactive Roth conversion tool that makes it easy to visualize the impact of conversions on items such as IRMMA surcharges and increases to taxable Social Security. To fund any deficits, RightCapital also considers drawing down and selling assets, which produce unique tax scenarios. RightCapital notes all income sources and how each of them is taxed. These additional inputs and tools provide more control for the advisor to help clients with their specific financial situations.

MONEY GUIDE PRO VS EMONEY SOFTWARE

That’s why RightCapital includes budgeting, and debt and student loan management tools built within the software to envision a client’s entire financial picture, and accounts for clients’ spending habits such as when they are spending more than they make within a given year. In reality, people’s lives are much more complex. MoneyGuidePro assumes that clients are not spending more than they make in a given year. For example, in MoneyGuidePro, there is minimal consideration of pre-retirement income and expenses. RightCapital considers more data sources than MoneyGuidePro does.

MONEY GUIDE PRO VS EMONEY PLUS

Beyond that, goal-based planning isn’t particularly useful for say, a 30-year-old.” With RightCapital, advisors have the flexibility to use goal-based planning, cash-flow planning, plus modified cash-flow planning. A user on Reddit also notes, “MGP is great for pre-retirees and retirees. According to this article by industry expert Michael Kitces, goal-based planning “puts the cart before the horse” and may result in hard conversations with the client about needing to create more realistic goals. There are some major differences between RightCapital and MoneyGuidePro, the main one being that with MoneyGuidePro, advisors must use the goal-based planning approach. MoneyGuidePro functionality Planning approach Morgan Stanley has both a proprietary platform, Goals Planning System, along with outside vendors, including MoneyGuidePro, a key competitor to eMoney.RightCapital vs. Merrill Lynch developed its own planning platform, called Personal Wealth Analysis, and introduced it last summer.

Wells Fargo Advisors is likely the first wirehouse to add eMoney. Wells Fargo Advisors’ competition at the three other wirehouses, Merrill Lynch, Morgan Stanley and UBS, each have their own financial planning processes for advisers. “They get used to it and it’s an important part of the client-to-adviser communication platform to set goals.” “Advisers like to stick to their financial planning tools,” said Alois Pirker, research director with the Aite Group. Advisers would be more easily able to continue financial planning for clients on the eMoney platform after they start working at Wells Fargo Advisors. Adding eMoney - which is widely popular among registered investment advisers and advisers at independent broker-dealers - could be a help to recruiting, several industry sources said.

Money guide pro vs emoney