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Users have provided several recommendations for the software based on their experiences. The most common recommendations include having a clear cancellation policy in place before signing up for the software. Users emphasize the importance of understanding the terms and conditions of cancellation to avoid any unforeseen issues.

Another recommendation is to take advantage of the software's ability to involve clients in data entry, as it helps decrease data transfer errors. Users appreciate the feature that allows clients to directly input information, ensuring accuracy and efficiency in the process.

Additionally, users recommend utilizing the software's reporting capabilities to generate comprehensive reports and discover outside held funds. They find this functionality helpful in gaining insights into their clients' financial situations and identifying potential areas for improvement.

Overall, users suggest committing to using the software and taking advantage of support to introduce clients to the client portal. They also mention the value of watching a demo or getting a consultation on best practices before using the software. Additionally, users recommend dedicating time to learning the software as it is considered an effective tool for calculating retirement plans. While there may be a steep learning curve initially, once mastered, users find it to be a more efficient and robust solution.

Finally, some users mention that while suitable for easy-to-use, goals-based planning, the software may not be as suitable for cashflow-based planning.

Envestnet MoneyGuide is a financial planning software designed to assist financial advisors in creating customized and detailed financial plans for their clients. According to the vendor, this software is suitable for financial advisors of all sizes, from solo planners to large enterprise firms. It is widely used by professionals in various industries, including financial advisors, wealth management firms, independent registered investment advisors (RIAs), broker-dealers, and insurance agencies.

## Key Features

**MyBlocks**: According to the vendor, MyBlocks is a client-led planning tool that simplifies complex financial topics and helps engage the next generation of investors.

**MoneyGuideEliteSM**: The vendor claims that MoneyGuideEliteSM provides illustrations of income distribution, tax planning strategies, lifetime protection strategies, and the benefits and tradeoffs of annuities.

**Wealth Studios**: According to the vendor, Wealth Studios offers interactive demonstrations of advanced estate planning strategies, addresses client cash flow questions, and models dynamic net worth.

**LIFESTYLE GOALS**: The vendor states that this feature helps clients define and prioritize their goals into Needs, Wants, and Wishes, providing perspective for financial decisions and facilitating informed choices.

**PLAY ZONE®**: According to the vendor, PLAY ZONE® allows clients to interact with their lifestyle by adjusting plan elements, such as retirement age, goals, and savings, and immediately see the impact.

**HOLISTIC STRESS TESTING**: The vendor claims that HOLISTIC STRESS TESTING is a dynamic presentation feature that helps plan for factors outside of anyone's control and provides answers to tough questions using a simple slider.

**CASH FLOW**: According to the vendor, CASH FLOW maps out retirement years with the Retirement Cash Flow Chart, plotting various goals, options, surpluses, and shortfalls based on the client's plan inputs.

**Transform how clients view their financial future with MyBlocks**: According to the vendor, this feature facilitates ongoing advisor-client collaboration, sets realistic expectations, and helps clients discover answers to complex questions while delivering control and choice within a familiar user interface.

**Income Studio**: The vendor claims that Income Studio provides a holistic view of clients' yearly income sources, educates clients on how expenses can be funded, and predicts surpluses or deficits.

**Lifestyle Studio**: According to the vendor, Lifestyle Studio allows clients to co-design their own plan and make informed decisions, providing a breakdown of projected net worth by asset type and individual asset balances.

MoneyGuidePro provides financial planners with a reliable and efficient tool to run comprehensive financial plans for clients. With a focus on goal-based planning, it allows planners to assess clients' retirement income projections, organize investment accounts, and plan other financial issues such as social security payments. The software provides an easy-to-understand report that allows clients to self-realize their situation and have in-depth discussions about their current financial state compared to where they want to be.

By acting as a repository for all financial planning information and providing dual entry access between client and advisor, MoneyGuidePro emphasizes the client relationship and counseling approach that clients prefer. The software simplifies complex retirement calculus into an easily digestible print-out or PDF document that updates as adjustments are made. This makes it easy for clients to track their retirement track over time, allowing them to make educated decisions on future investments. With the ability to drill down and get more detail on calculations that would be difficult if not impossible without Money Guide Pro, it ensures thorough discussions about where clients are now and where they need to be.

User-friendly Software: MoneyGuidePro is praised by many users for its user-friendly interface and easy navigation, with a short learning curve. Several reviewers have appreciated the software's flow reports that are fairly easy to understand and provide thorough reporting capabilities. It allows clients to move between investment assets, spending goals, and Carlo results with ease.

Thorough Financial Planning: MoneyGuidePro provides comprehensive financial planning tools that allow users to capture all client's assets and liabilities in one place and run various scenarios. The What-If Worksheet, Supersolve, Insurance needs section, budget tool, net worth portion of the software were some features loved by most reviewers. These features make it easy for clients to understand their financial plan while providing multiple planning tools to leverage with clients.

Scenario Analysis Capabilities: Many users found the software's ability to analyze different scenarios using the planning software helpful. The What-If worksheet was extremely helpful for analyzing different scenarios while the Plan Summary was useful for adding in regular notes. Reviewers also appreciated the ability of MoneyGuidePro to set goals and use the budget tool to make annual retirement expenses real while showing how different changes in their plan could impact the probability of success.

Slow Performance: Some users have reported that MoneyGuidePro can be slow at times, taking a long time to load pages which can be frustrating for clients. 

Expensive Fees: The cost of the software is a common complaint amongst users, with some stating that it is expensive due to its yearly fee in addition to monthly payments, making it difficult for small offices to keep within budget.

Lack of Customization Options: Many reviewers have expressed disappointment at the lack of customization options for reports. The default settings make the reports confusing for clients and there is not enough flexibility to tailor them to specific needs.

Designed for advisors with the client in mind, MoneyGuidePro® provides solutions and smart assumptions to help advisors navigate the complex financial elements of their clients' lives. The product is now supported by Envestnet (acquired in late 2019).

Covercy is a Banking-Embedded Investment Management Platform built for commercial real estate investment firms. It offers automated distribution & capital call payment processing, an Investor Portal, and APY yielding checking accounts.

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ECOS

Envestnet MoneyGuide

Investment Portfolio Management

MoneyGuidePro Partner Demo

MoneyGuidePro® for Advisors

MoneyGuidePro®, our flagship product, has been named the number one Financial Planning Software -  eleven years in a row.

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Investment Portfolio Management Software

Envestnet MoneyGuide
Formerly MoneyGuidePro

Overview

What is Envestnet MoneyGuide?