PIE Technologies, Inc., developer of the MoneyGuidePro goal-focused financial planning software package, said it expects to release a comprehensive upgrade on or about September 1. Dubbed MGP: G2 (The Second Generation), this new version includes numerous new features designed to both speed the planning process and improve results.
"We believe that the current version of MoneyGuidePro is fast, easy, and client centered; but like every other competing program on the market, it's dumb, and that isn't good enough" said PIE Technologies CEO Bob Curtis. "The emphasis for MGP: G2 is the addition of new smart features that will lead to better planning outcomes".
One example of this is the expanded handling of client preferences. In the past, the program required an absolute retirement age and a finite dollar value for each goal. The program now allows for a range of values, and it provides inputs for the clients' willingness to adjust preferences, the importance of goals and the willingness to save more. Goals are now sub-divided into three categories-needs, wants and wishes-and are ranked within their respective categories.
The What-if view, always an MGP strength, has been expanded significantly and can show the average return, bad timing and Monte Carlo results on one page. And up to four scenarios can be compared side-by-side. A new graphical representation of Monte Carlo results called the Confidence Zone has been added to aid client comprehension.
Super Solve is a new feature that can create a set of optimized recommendations based on client preferences and pre-defined defaults. It can solve for all factors simultaneously, taking into account client ideal vs. acceptable outcomes. "This application allows you to optimize your clients' future," said Harold Evensky, President of Evensky & Katz Wealth Management in Coral Gables, Fla., after viewing a demonstration of G2's capabilities.
MGP: G2 features a new presentation mode that automatically creates a PowerPoint-style presentation with interactive live calculations built in. This presentation includes an action plan for clients.
Upon the release of MGP: G2, PIE will raise its price for the first time in four years. The list price is slated to rise from $995 to $1,295, but new users who sign up before the release date can purchase at the current price for up to two years.-Joel Bruckenstein