As advisors grow more reliant than ever on software to track their clients’ accounts–and as the choice of products has grown at a mind-bogglingly fast rate–Aite Group has released an in-depth report that rates 11 major players’ financial planning platforms.

The 90-page Aite impact report names the most suitable solutions for five unique segments of financial advisors: planning-driven, planning-supported, planning-selective, planning-challenged, and investment-focused.

For example, Aite recommends MoneyGuidePro for planning-driven advisors when conducting planning for clients with less than $1 million in investable assets and NaviPlan for planning-driven advisors when conducting planning for clients holding more than $1 million in assets. For planning-challenged advisors, Aite recommends AdvisorVision, a solution that delivers client-friendly recommendations, graphics, and charts without requiring advisors to engage in significant manipulation.

Overall, the report profiles PIE Tech MoneyGuidePro, EISI NaviPlan and Profiles, PlanPlus Planit, AdviceAmerica AdvisorVision, Finantix Components for Financial Planning, Polaris Intellect Wealth FNA, Tata Consultancy Services TCS B?NCS Wealth Management, SunGard WealthStation, Informa Investment Solutions WealthIQ, Scivantage Financial Compass and Methuselah, and Thomson Reuters Financial Planning.

Aite is a Boston-based independent research and advisory firm focused on business, technology, and regulatory issues. The firm’s report comes as the global market for financial planning software has seen a number of new entrants over the last decade from software firms worldwide. Several new solutions were introduced in the United States in the early 2000s to enable the democratization of financial planning driven by Web-based technology.

Said Sophie Schmitt, senior analyst with Aite Group and author of the report, in a statement: “Financial planning will become a more important part of financial advisors’ value proposition as regulators in key financial markets draft legislation that requires financial advisors to act as fiduciaries with all clients, and wealth management firms seek to differentiate financial advisors’ offerings from those of online brokerages.”

Read about Fiserv’s acquisition of AdviceAmerica and AdvisorVision at AdvisorOne.com.