MoneyGuidePro

[adam.robinson]

Are many people here still using this FP software package? We started with it about a year ago and I have been noticing the lack of posts regarding their offering. Our b/d recently moved to Pershing and supposedly they have some data integration with Naviplan, although I would hate to make another switch when MGuide pro models goals from many different viewpoints, and I think my clients have grown to like it and value its output.

[jr]

Yes, we use it and are very pleased with it. It is very easy to use and the clients understand it.

We have used other programs that go into excruciating detail and the clients never really understood the plan, even after explain it to them in easy to understand terms. Every client has been happy with MGP since they can easily understand it.

[Awealthplan.com]

Ditto. I switched away from Naviplan a year or so ago. I saw that they have a new version that is suppose to be more user friendly & produce easier to understand client presents, but I have not seen it in action.

MGP works very well in most cases. It does leave a lot to be desired in the calculation of LI needs for clients. I do not even look at the Life insurance module. It is very poor at showing the actual needs of the clients. Eg. it only calculates loss of income replacement and not human life capital replacement.

[adam.robinson]

Thank you for the responses guys...in my limited time with the program (a little over a year), I have found that clients seem to follow along pretty easily. Have either of you customized the asset allocation portion to include your own models? Have you used historical returns from the various indices that are included or are you making capital market assumptions and developing expected returns for the asset classes moving forward?

My favorite feture of the program is the multiple ways that you can show the client the effects of market volatility on a plan. I have not seen any other application that looks at this from so many different angles.

[jr]

We added a few additional asset classes and set our own portfolios. Their default allocations are not bad at all though. We always use the projected returns. Harold Evensky has provided projected returns for the asset classes and we are comfortable with the numbers.

Yes, the clients really appreciate the "stress tests," especially for their retirement plan.

[orrgroup]

Ditto here as well. We just cancelled a one-year relationship with a very detailed & complex CRM/planning/portfolio mgmt system in favor or RedTail CRM/Albridge/MoneyGuidePro. They all link together now.

My broker-dealer, SSG, created a direct link to Albridge portf. mgmt wealth reporting, and that started the snowball down the hill for us. Previously we were having to daily upload data into a system that was simply too complex and time-consuming. Plus, the planner was like NaviPlan in terms of being way too complex. We have always used MGP as well.

Now, we have MGP, CRM, and Portf Mgmt all tied together. RedTail is the key to this integration. They have really improved over the past year. Plus, RedTail Imaging is out and it is impressive. That eliminates our need for another 3rd-party provider - ElephantDrive, which stored our data online.

Now, we store using RT Imaging and all our docs can be linked to each client. There is a client library for our client files and folders and there is a corporate library for all our internal docs and files, accessible within RT imaging. Also, a file sync is being developed where RT imaging will monitor folders on your local drive and sync them up with the RT imaging library. Very nice. That is to be released by end of month I am told.

And the best of all? We are saving about $200 per month PLUS a massive savings of time because all three are very simple and easy to use and fast. RedTail, MGP, and Albridge. That is the real benefit in my view - time savings.
Andrew