Advicent headquartered in Milwaukee offers NaviPlan, a financial planning software for firms.
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RightCapital
Score 10.0 out of 10
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According to the vendor, RightCapital's financial planning solution allows financial advisors to:
•Differentiate their value for more clients.
•Create a simple plan in as little as 10 minutes.
•Empower themselves to evolve with planning needs.
NaviPlan is an invaluable financial planning tool. There are so many strategies and reports that can be built and used within the software. I've been using it for around 8 years and still don't how to use all of the functions. It has come a long way over the 8 years in terms of functionality. There is a definite learning curve, however, I've found it has become more user friendly.
I think it is well suited for planners that are just starting out and have an appreciation for cash flow analysis for their clients. I think it is more bang for your buck in that regard. The cash flow analysis can be a helpful addition when discussing client finances because it's easy to say that goals will be reached, but it's better to describe, year by year, how a client's cash flow will look.
Snap Projections - We were using this software up until this year alongside Naviplan to see how it compared. The reason we tried Snap Projections was the difference in pricing. Naviplan is expensive, where Snap is only a fraction of the cost. The biggest reason we stayed with Naviplan was familiarity for the advisor presenting. He was accustomed to it. I find the interface of Naviplan better cosmetically. They both are great financial planning software tools with pros and cons in each. I have found that you can manipulate the software to show most of what you need. Both platforms continually update and take user feedback into consideration when building on to it so they both get better all the time
Again, as I mentioned before, RightCapital seems to be much more user-friendly for people starting out because of how intuitive the platform is. In addition, it beats on cost and flexibility, in my opinion. I think the cost per advisor with eMoney can be around $3600, and RightCapital is half that. Now there may be services that I will need as I grow that will compel me to switch, but I am not there yet and am unwilling to lose the features that RightCapital provides.
Tax calculation of the organization and employees was very difficult, and Navi Plan made is very easy now.
The introduction of the software makes positive changes in the organization in managing the financial needs, which helps the organization to allocate what is required.
Employee benefit calculation was a bit difficult and it made a big positive impact.
It does the job and we get the best for what we pay for.
If the industry becomes big, then slight changes must be introduced to manage the big data needs.
