Financial Planning Tools

Financial Planning Tools are the instruments used to meet current and future financial goals through a sound financial plan. Financial Planning Tools generally fall into two categories: (a.) Wealth-Growing Tools.
Financial advisors have a complex and fluid job, helping a range of clients with unique situations and financial goals – keeping track can be difficult! New applications, software, online products and services and cloud-based systems to help financial advisors are cropping up at rapid speed.

A good financial plan contains seven key components:

• Budgeting and taxes.
• Managing liquidity, or ready access to cash.
• Financing large purchases.
• Managing your risk.
• Investing your money.
• Planning for retirement and the transfer of your wealth.
• Communication and record keeping.

When it comes to serving clients in a state-of-the-art way, these 10 tools are indispensable.

1. NestEgg Estimator

The NestEgg Estimator, a Google app, is a comprehensive retirement tool that projects the client’s finances into the future and breaks them down into income, taxes, assets, and debt. The advisor can input varying amounts of data: The more data, the more detailed and accurate results. The app also gives the advisor the opportunity to play out various scenarios, such as changes in job, expenses, spending and many more.

2. Black Diamond

Advent Software’s Black Diamond is a cloud-based portfolio management platform. The features it offers independent financial advisors include information aggregation, customizable reporting, rebalancing and daily account reconciliation.

3. Black Diamond Mobile App

The Black Diamond mobile app, an add-on to the Black Diamond management platform, is one for the clients. It keeps them updated on their account and portfolio information. The app also offers a secure messaging system, ideal for advisor and client collaboration.

4. Hootsuite

Although many older advisors eschew the newer marketing and communication models, the planner without a strong online presence across Twitter, Facebook and LinkedIn is at a disadvantage. To reign in these unwieldy platforms and systematize their delivery, Hootsuite, a social media marketing aggregator, is ideal.

5. Paladin Research and Registry

This free-to-consumers site serves people seeking a professional financial planner. To appear in their directory gives an advisor credibility and exposure. For a fee, this investor watchdog organization will rate an advisor according to experience, education, certifications, and other proprietary criteria. If the advisor passes the Paladin screening, he is eligible for a spot on its “five-star registry,” thereby broadening his professional profile.

6. Fugent

Nugent offers a variety of software geared to financial service professionals. Its app for tablets is a unique remote presentation tool for out-of-office client meetings. The beauty of the app is that the advisor can elaborate on any uploaded document or report’s content, trends, and information by writing on the document with their finger.

7. Dropbox

Cloud-based backup services: These storage and transfer systems are constantly improving inaccessibility as well as security. There are many to choose from, but today’s advisor and her clients need a system to access and share important information from anywhere. Dropbox is one of the more popular and reliable.

8. Precise FP

Data-gathering is one of the most tedious parts of the financial advisor’s job. Precise FP outsources this task. Clients input their information and attach appropriate forms and documents, and Precise FP aggregates the data into consistent, user-friendly forms. The attractive sheets can present the client data in diverse formats.

9. Bookeo

Scheduling meetings can be time-consuming for both the advisor and staff, frequently leading to lost minutes or hours. acts like a super-secretary/concierge. From a ‘get acquainted meeting to a follow up with an existing client, Bookeo takes care of making appointments, gathering the name, email, address, and phone information of the other party or parties. The system is highly customizable too.

10. Google Alerts

The advisor must keep up with his or her online reputation. Google Alerts is an ideal tool to find out the ‘who, what, and where’ of your personal and company mentions. Set up an alert for the company name as well as your individual name. That way, you know whenever you receive a media mentioned online. It’s a great way for the professional to monitor social media marketing efforts and online presence.

The best online savings accounts

Online savings accounts are great for your emergency fund and other savings goals you have for the short-term period. These types of accounts can be very useful because most online savings banks will actually pay you a much higher rate of interest compared to traditional banks. You can think of them as tools that can help you save your money more effectively for short-term savings goals.

Ally Bank

Ally Bank has zero transfer fees, monthly maintenance fees, or minimum balance fees. Based on those alone, you’ll easily be saving a lot over the long term. What’s great about Ally Bank is that you can create sub-savings categories within your main savings account that you end up opening.

Discover Bank

Discover Bank is another great savings alternative when it comes to online banking that also has no transfer fees, monthly maintenance fees, or minimum balance fees. Unlike Ally Bank, however, Discover Bank does not have the ability to create sub-savings categories within its savings accounts.


When it comes to searching for the right online banking solution to meet your needs, Bankrate is a great place to start, helping you find the best online savings account at the current time you are doing your research.

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