As mentioned earlier, WealthTec's current pricing is attractive. WealthMaster subscribers ($1,195 download, $1,395 CD-ROM) earlier this year received Counselor as part of their regular annual subscription at no additional cost. Current subscribers, and new subscribers who sign up before the release date of Foundations, will receive that program included in their annual subscription as well. One final note: In the recent past, as tax law changes have occurred, WealthTec has consistently delivered prompt, accurate updates ahead of their larger rivals.
MoneyTree Software
It appears that the MoneyTree's programmers have been racking up some overtime lately. On July 24 the company released version 3.9.e of their Silver Retirement Planner. Silver is an intelligent, easy-to-use program that offers clients a snapshot of their current financial condition. It is primarily designed to answer the most frequently asked client question: "Will I outlive my assets?" The most significant changes in this release are improved cash flow and Monte Carlo reports and the addition of long-term care reports.
In what could be a significant breakthrough, the company recently announced that it has developed a Web-based-server version of its Silver Financial Planner for use by major financial institutions; their first enterprise installation is currently taking place. In the Web version, the application client is accessed completely within a Web browser.
According to Money Tree Software Marketing & Sales Manager John W. Kollaer, "We have modeled the application in a format similar to Silver Financial Planner, using the proven technology developed for the desktop version of Silver. The end result is an application that is simple to use yet provides detailed reporting capabilities. The core engine has been honed to deliver sub-second response times, including 5,000 iterations of Monte Carlo true calculation runs."
A major benefit of the application for larger institutional customers is the centralized repository of information. Customer and financial data are stored on the server side of the application. This allows the enterprise to retain its valuable intellectual property as well as administer tight controls on the users of the system.
On July 29, MoneyTree released an incremental update of the MoneyTree Suite, version 2.46.8. The suite includes four programs that share a single database: Easy Money 8.20, a comprehensive financial planning program; Golden Years 8.20, a flexible program capable of producing highly detailed retirement projections; Retirement Solutions 8.20, which generates reports and graphs; and Money Tools 8.20, which includes client management, portfolio management and practice management tools. Kollaer says improvement have been made based on customer suggestions, including: creating a single data input system for use with Easy Money and Golden Years; enhanced data entry methods for greater ease of use and learning; increased flexibility in cash inflows and outflows, and rates of return, at different ages; and additional report pages for more detailed tracking of results.
These and other enhancements are facilitated through the conversion of the applications to Microsoft .NET technology. The new features automatically will be integrated into Money Tree Software t as the changes are implemented in future releases.
MoneyGuidePro
Over the last few years, MoneyGuidePro has evolved into a very good, easy to use, Web-based financial planning program. However, its lack of an estate planning module curtailed acceptance in some quarters. The release of version 5.0, scheduled for this fall, should remove this last impediment to the company's growth.: "It has taken us a little longer than we would have liked integrate estate planning capabilities into MoneyGuidePro, but we wanted to do it right. I think customers will be pleased with the results," says PIE Technologies Inc. President Bob Curtis.
Initially, the module will provide coverage of basic estate planning techniques such as bypass trusts, gifting and ILIT's (Irrevocable Life Insurance Trusts), with additional strategies to be added in a future release. Curtis says features that will make the module attractive to advisors include:
Integration with the financial goal plan.