TrustRadius Insights
NaviPlan is a versatile financial planning software that offers a range of use cases to help individuals, couples, and financial advisors …
Overview
What is NaviPlan by Advicent?
Advicent headquartered in Milwaukee offers NaviPlan, a financial planning software for firms.
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What is NaviPlan by Advicent?
Advicent headquartered in Milwaukee offers NaviPlan, a financial planning software for firms.
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- Free/Freemium Version
- Premium Consulting/Integration Services
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Product Details
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- Tech Details
What is NaviPlan by Advicent?
NaviPlan by Advicent Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
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NaviPlan is a versatile financial planning software that offers a range of use cases to help individuals, couples, and financial advisors manage their clients' finances. Users can input detailed data about life situations and financial goals, allowing for personalized planning. The program securely stores this information, making processing time and information recording easier for users. NaviPlan assists in financial planning by calculating and providing recommendations on saving, investing, and living expenses, simplifying the overall process. Users have found NaviPlan to be a fantastic tool once they become familiar with its features.
One key use case of NaviPlan is the ability to model different financial scenarios and run Carlo scenarios to assess the probability of success. This feature helps users determine the impact of various strategies on retirement plans, making it an invaluable tool for financial advisors when discussing options with their clients. The software's visuals are also helpful in presenting analysis to clients, enhancing communication during important financial discussions. Additionally, NaviPlan allows for both quick retirement plans and detailed plans, offering flexibility in future projections and showcasing different strategies.
Moreover, NaviPlan serves as a central database for managing employee accounts in small industries and enterprises. It provides comprehensive information on salary, allowances, insurance, and other financial aspects. This end-to-end financial management solution streamlines processes for businesses while ensuring accurate record-keeping. Overall, NaviPlan helps users make informed decisions by visualizing income streams in retirement, estimating the longevity of funds, and assessing tax implications for different financial choices. Whether it's individual financial planning or enterprise-level account management, NaviPlan offers a range of solutions tailored to meet diverse needs.
Accurate and Detailed Financial Planning: Several reviewers have found NaviPlan to be a highly accurate financial planning tool that allows for the entry of detailed information, including variables like inflation and future dated changes. This level of detail creates a highly accurate financial plan.
Comprehensive Overview of Financial Situation: Many users appreciate the ability to view all of a client's assets and accounts on one screen, providing a comprehensive overview of their financial situation. This feature enables them to calculate potential options for financing and make informed decisions.
Flexible Scenario Illustration: The flexibility of NaviPlan is praised by reviewers as it can produce a wide range of documents to illustrate various financial scenarios. Users specifically highlight the usefulness of the foundational plan tool for illustrating retirement funding.
Steep Learning Curve: Several users have found the software to have a steep learning curve and not be particularly user-friendly. They have expressed difficulties in navigating the user interface, finding specific information, and ensuring accuracy. This has made it challenging for them to effectively use the program. Outdated Features: Many reviewers have criticized the software for being outdated and not suitable for goals-based financial planning. They believe that it lacks modern features and functionality compared to its competitors. Some users also mentioned inconsistencies in the program, such as random labeling of couples as single, which further adds to their frustration. Lack of Customization Options: A common complaint among users is the lack of customization options and difficulty in tracking specific items. They desire more flexibility in tailoring the software to their individual needs and preferences. This limitation has hindered their ability to efficiently manage their financial analysis tasks. Overall, users feel that while the software may adequately perform its job, it falls short in terms of ease of use, innovation, and adaptability to different user requirements.
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