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Financial Planning > Behavioral Finance

Viewing Financial Planning Software From a Client’s Perspective

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Those of you who have been reading my posts realize that I have written a lot about my new financial planning choice, eMoney. Actually, the company prefers to call it a wealth management platform. Now that I am further up the learning curve I would like to discuss a few additional benefits I have discovered with this incredible system. 

Thus far I have found the platform to be quite impressive. Rather than talk about the system from an advisor’s point of view, let’s view it from the client’s perspective.

The platform has an option to create a client website which is very cool. From any Internet browser the client can click on their unique URL, enter their ID and password, and voila, they are able to view their financial situation. In their personal website are a number of tabs with a plethora of information. They can also link their outside assets and liabilities to their site which will be updated daily.  

Each tab contains different information. One tab includes all of the documents that were uploaded by the advisor. The reports in their website are numerous. For example, they can view their current net worth or a projected financial statement for any future year. They can also view reports on their cash flow, financial assets, insurance, estate plan and many more. It’s like client nirvana. Rather than email a PDF to the client, I can simply upload a document to their site and they can log in to view it. Again, it’s really quite impressive.

As you may know, I have acquired a lot of new technology this year. In doing so, I have also increased my level of integration as the new technology plays well together.

Even so, I have not yet taken the step to acquire Redtail or an equivalent CMS program. I plan to do this very soon. My hesitation has been time. I just presented my first eMoney plan to a new client and that’s where a lot of my time has been spent. There’s nothing like a deadline to motivate us to spend the time necessary to learn a particular tool. Now that I am becoming more familiar with eMoney I can begin to focus on a new CMS. I’ll keep you posted. 

Until next week, thanks for reading!