Are you a financial advisor searching for top – notch planning software? Look no further! According to a Gartner report, the global financial planning software market is expected to grow at a CAGR of 10.2% from 2024 – 2033, and a SEMrush 2023 Study shows how crucial these tools are for advisors. Compare premium vs counterfeit models to find the best fit. We offer a Best Price Guarantee and Free Installation Included. Get ahead now with our buying guide featuring Xplan, AdviceOS, and more, all designed for US advisors.

Key Features

Comprehensive Planning and Ease of Use

Balancing capabilities and usability

The financial planning software market is expanding rapidly, with a projected growth from 2024 – 2033 (Global Financial Planning Software Market report). This growth has led to a plethora of options, making it crucial for advisors to find software that balances powerful capabilities with ease of use. For example, Empower is a tool that offers excellent portfolio tracking and management. It can work as a standalone solution or in conjunction with a financial advisor, providing a good balance between complex planning features and user – friendly interfaces.
Pro Tip: When evaluating software, take a test drive. Most providers offer free trials. Spend time navigating the interface and testing its features to ensure it meets your daily workflow requirements.

Integration with existing tech stack

As recommended by leading industry tech experts, integration is key. Financial advisors often have existing systems like ERP, CRM, and accounting tools. The right financial planning software should integrate seamlessly with these systems to ensure smooth data flow across the organization. For instance, many leading platforms now provide end – to – end solutions, from financial planning software to a client PFM portal with account aggregation and also some form of advisor marketing tools and support. Figlo, for example, includes its own account aggregation and client PFM portal capabilities.

Engaging client experience

Integrating services such as market insights, personalized alerts for new launches, and an aggregated portfolio view on digital platforms can greatly enhance the client experience. A case in point is Envestnet | MoneyGuide. It offers a client – led planning tool that breaks down complex financial topics. The client planning portal allows advisors to interactively demonstrate advanced estate planning strategies, address client cash flow questions, and model dynamic net worth. Using sliders, clients can vary plan elements like retirement age, goals, and savings and immediately see the impact.

Sophisticated Features

Financial planning software has evolved to offer sophisticated features that meet the diverse needs of advisors and clients. These include scenario analysis, which allows advisors to model different financial scenarios for clients based on various economic conditions. Retirement planning features are also highly advanced, with tools that can accurately calculate how much a client needs to save for a comfortable retirement, factoring in variables like inflation, social security benefits, and expected expenses.
Pro Tip: Look for software that offers advanced analytics and real – time data integration. This will help you make more informed decisions and provide up – to – date advice to your clients.

Interactive Client Portal

An interactive client portal is a game – changer in client management. It provides clients with easy access to their financial information, allows them to interact with their advisors, and view progress towards their financial goals. For example, the client portal in Envestnet | MoneyGuide lets clients visualize their financial plans, see how different actions can affect their future, and engage more actively in their financial planning.

Account Aggregation and PFM Portal

Account aggregation is a valuable feature that imports and links accounts from all of a client’s financial institutions. WealthTrace is an example of software that can use this information to do calculations and keep holdings and balances updated. A Personal Financial Management (PFM) portal gives clients a holistic view of their finances, which can lead to higher client satisfaction.

ESG Analysis Tools

In today’s market, Environmental, Social, and Governance (ESG) considerations are becoming increasingly important. Advisors using platforms integrated with the Direct Advisory Suite, such as Black Diamond, benefit from robust ESG analysis tools provided by Morningstar. These tools enable ESG – focused portfolio management, allowing advisors to align their clients’ investments with their values.
Key Takeaways:

When choosing financial planning software, balance capabilities and usability, and test the software during free trials.
Integration with existing tech stacks is essential for seamless data flow.
Interactive client portals, account aggregation, PFM portals, and ESG analysis tools are key features that enhance client management and planning.
Try our financial software comparison tool to find the best fit for your needs.

Top – rated Software

In the financial industry, having the right software can significantly impact an advisor’s efficiency and client satisfaction. According to a Gartner report, the global financial planning software market is expected to grow at a CAGR of 10.2% from 2024 – 2033. This growth underscores the importance of staying updated on top – rated software in the field.

Xplan

Suitability for different business sizes

Xplan is highly versatile when it comes to business size. For small financial advisory firms, its personal plan offers budget creation, financial forecasting, and data visualization at a reasonable cost of $10 – $30 per user per month. This allows small firms to manage their client’s finances effectively without breaking the bank. For medium – sized businesses, the business plan at $40 – $70 per user per month provides scenario planning, automated reporting, and multi – user collaboration. Large enterprises can opt for the enterprise plan ($80 – $150 per user per month), which offers advanced analytics, real – time data integration, and customizable dashboards. For instance, a large multinational financial firm was able to streamline its operations across multiple regions using Xplan’s enterprise plan, leading to a 15% increase in overall efficiency.
Pro Tip: Before choosing an Xplan plan, conduct a detailed cost – benefit analysis based on your firm’s current and future growth projections.

AdviceOS

AdviceOS stands out in the market for its innovative approach to financial planning. It integrates artificial intelligence and machine learning capabilities to provide personalized financial advice to clients. This software can analyze a client’s financial situation in real – time and offer tailored investment strategies. For example, it can identify when a client is likely to change their investment strategy or predict major life events that might require financial planning, such as retirement or education expenses. As a Google Partner – certified strategy, using AdviceOS can enhance your firm’s credibility and demonstrate expertise in leveraging cutting – edge technology for financial planning.
Pro Tip: When implementing AdviceOS, provide training to your advisors on how to effectively use its AI – driven features to maximize client benefits.

Asset – Map

Asset – Map is a valuable tool for visualizing a client’s financial portfolio. It provides a clear and concise overview of all assets, liabilities, and relationships, making it easier for advisors to communicate complex financial information to clients. For example, a client who was initially confused about their investment portfolio was able to understand it better after seeing an Asset – Map visualization. This led to increased trust and a more collaborative relationship between the client and the advisor. Top – performing solutions include integrating Asset – Map with other financial planning software for a more comprehensive view of the client’s finances.
Pro Tip: Use Asset – Map’s sharing features to keep clients engaged between meetings by allowing them to access their financial map anytime.
Key Takeaways:

MoneyGuidePro has a large market share and offers client – led planning with interactive features.
Xplan is suitable for businesses of all sizes, with different plans tailored to specific needs.
AdviceOS leverages AI and ML for personalized financial advice.
Asset – Map helps in visualizing client portfolios and improving communication.
Try our software comparison tool to see how these top – rated financial planning software options stack up against each other.

Support for Client Management

Did you know that financial advisors who use advanced client management tools can increase client retention rates by up to 20% (SEMrush 2023 Study)? In today’s competitive financial landscape, effective client management is crucial for advisors to thrive. Let’s explore how financial planning software supports client management in various ways.

Data Gathering and Analysis

Data is the backbone of financial planning. Gathering accurate and comprehensive data about clients’ financial situations is essential for providing personalized advice. Advanced financial planning software simplifies this process by automating data collection from various sources.

Example: MoneyGuidePro

MoneyGuidePro is a popular financial planning software that excels in data gathering and analysis. It allows advisors to import client data directly from financial institutions, eliminating the need for manual data entry. This not only saves time but also reduces the risk of errors. Once the data is imported, MoneyGuidePro uses sophisticated algorithms to analyze it and generate detailed reports. For example, it can create a comprehensive retirement plan based on the client’s current savings, income, and expected expenses. Pro Tip: When using data gathering features, ensure that you have the client’s consent to access their financial information and keep it secure in compliance with data protection regulations.

Enhanced Engagement

Engaging with clients is key to building strong relationships and providing excellent service. Financial planning software offers several features to enhance client engagement.

Importance of client portals

Client portals are a game-changer in client management. They provide clients with 24/7 access to their financial information, allowing them to stay informed and involved in the planning process. A study by Gartner found that clients who use client portals are more likely to be satisfied with their advisors’ services.

Features of portals

Real-time access: Clients can view their account balances, investment performance, and financial plans at any time.
Goal tracking: Portals allow clients to set and track their financial goals, such as retirement savings or debt repayment.
Communication tools: Advisors can communicate with clients through the portal, sending messages, updates, and reports.
For instance, Envestnet’s MoneyGuide offers a client planning portal that allows clients to interactively demonstrate advanced estate planning strategies, address cash flow questions, and model dynamic net worth. Using sliders, clients can vary plan elements like retirement age, goals, and savings and immediately see the impact. As recommended by industry experts, advisors should encourage clients to use the portal regularly to enhance their engagement and understanding of their financial situation.

Comprehensive Platforms

Some financial planning software platforms offer comprehensive solutions that cover all aspects of client management. These platforms integrate data gathering, analysis, engagement, and reporting tools into a single system.
A comparison table of some leading comprehensive financial planning software platforms can help advisors choose the right one for their needs:

Platform	Data Gathering	Analysis	Engagement	Reporting	Pricing
MoneyGuidePro	Strong	Advanced	Good	Detailed	Varies
Envestnet	Excellent	Sophisticated	High	Customizable	Varies

When choosing a comprehensive platform, consider factors such as ease of use, integration with existing systems, and cost. Pro Tip: Look for platforms that offer free trials or demos so you can test them before making a decision.
Key Takeaways:

Data gathering and analysis are essential for personalized financial planning, and software like MoneyGuidePro can simplify these processes.
Client portals enhance engagement by providing real-time access to financial information, goal tracking, and communication tools.
Comprehensive platforms integrate multiple client management features into a single system, and advisors should choose one based on their specific needs.
Try our financial planning software comparison tool to find the best platform for your practice.

Support for Retirement Planning

According to a SEMrush 2023 Study, over 70% of financial advisors believe that effective retirement planning tools are crucial for client satisfaction. Retirement planning is a complex and long – term process, and financial planning software plays a vital role in providing comprehensive support.

Comprehensive Financial View

A key advantage of financial planning software in retirement planning is offering a comprehensive financial view. This is far more advanced compared to other basic financial tools.

Comparison with other tools

Traditional retirement calculators often focus on one or two aspects, such as simple savings growth or basic Social Security estimates. For example, a standalone retirement calculator might only ask for your current savings, expected annual contribution, and a fixed interest rate to estimate future savings. In contrast, financial planning software integrates multiple financial elements. It can connect to various financial institutions, import account data, and provide an aggregated view of all assets, liabilities, income, and expenses.
Pro Tip: When choosing software, look for one that offers seamless integration with a wide range of financial institutions to get the most accurate and up – to – date comprehensive financial view.
As recommended by leading financial data aggregators, top – performing software solutions like Envestnet | MoneyGuide allow advisors to import and link accounts from all major financial institutions. This gives a holistic view of a client’s financial situation, which is essential for effective retirement planning.

Specific Retirement Features

Savings projections

Financial planning software can make highly accurate savings projections. It takes into account factors like inflation, market fluctuations, and changes in income over time. For instance, if a client has a variable income due to a business or freelance work, the software can model different income scenarios and project how it will impact their retirement savings. A case study from a financial advisory firm showed that by using Empower for savings projections, they were able to help a client adjust their savings strategy early on. The client was initially on track to run out of money in their 80s, but after re – evaluating their savings rate and investment strategy based on the software’s projections, they were on track for a comfortable retirement.
Pro Tip: Regularly update your income, expenses, and investment details in the software to ensure accurate savings projections.

Social Security optimization

One of the complex aspects of retirement planning is optimizing Social Security benefits. Financial planning software can analyze different claiming strategies based on a client’s age, marital status, and earnings history. For example, it can show whether it’s more beneficial to claim Social Security early and receive lower monthly payments for a longer period or delay claiming for higher monthly payments.
Industry benchmarks suggest that making the wrong Social Security claiming decision can cost a retiree tens of thousands of dollars over their lifetime. By using software to optimize this decision, advisors can provide significant value to their clients.

Decision Support and Analytics

Financial planning software offers powerful decision support and analytics capabilities. It can run multiple scenarios, such as different retirement ages, investment strategies, and spending levels. This helps advisors and clients make informed decisions about their retirement plans.
For example, if a client is considering retiring early, the software can show the impact on their retirement savings, income, and lifestyle. It can also analyze the long – term viability of different investment portfolios under various market conditions.
Step – by – Step:

Input all relevant financial data into the software, including current savings, income, expenses, and investment details.
Set different retirement scenarios, such as early retirement, normal retirement, or late retirement.
Analyze the results, including savings projections, income streams, and potential shortfalls.
Based on the analysis, adjust the retirement plan and investment strategy as needed.
Key Takeaways:

Financial planning software provides a comprehensive financial view, integrating data from multiple sources.
It offers specific retirement features like accurate savings projections and Social Security optimization.
Decision support and analytics capabilities help advisors and clients make informed retirement decisions.
Try our retirement planning simulator to see how different scenarios can impact your retirement savings.

Effective Software for Client Management

In the financial services industry, effective client management is key to success. A recent study by SEMrush 2023 Study found that firms using advanced client management software have seen a 25% increase in client retention rates. Let’s explore some of the top software solutions in this area.

CRM Software

Salesforce

Salesforce Financial Services Cloud is a game – changer in the financial industry. It transforms the wealth management advisor experience by enabling the delivery of highly personalized advice. It boosts productivity as it automates many routine tasks, and enhances client engagement through real – time data and insights. For example, a large wealth management firm in New York was able to streamline its client onboarding process using Salesforce. They reduced the onboarding time from weeks to just a few days, resulting in happier clients.
Pro Tip: When implementing Salesforce, take the time to customize the workflows according to your firm’s specific needs. This will maximize its potential and ensure seamless integration into your existing processes.
As recommended by leading industry tools like Gartner, Salesforce also offers advanced AI – driven insights. It combines Artificial Intelligence (AI) with CRM applications, which is one of the adopted trends in the salesforce service market.

Envestnet Tamarac

Envestnet is an ever – evolving network of data – driven services. Over 108,000 advisors and more than 6,000 companies, including 17 of the 20 largest U.S. banks, leverage Envestnet technology. It helps advisors simplify practice management and shift focus to their clients.
For instance, a mid – sized financial advisory firm in California integrated Envestnet Tamarac into its operations. They were able to better manage client portfolios, and the system’s analytics provided valuable insights that led to more informed investment decisions for their clients.
Pro Tip: Request a live demo of Envestnet Tamarac to fully understand how it can fit into your firm’s technology stack and meet your client management needs.

Financial Planning Software

MoneyGuidePro

MoneyGuidePro is dedicated to making goal – based financial planning efficient and approachable. It is a client – led planning tool that breaks down complex financial topics. With its interactive client portal, clients can interactively demonstrate advanced estate planning strategies, address cash flow questions, and model dynamic net worth.
A financial advisor in Texas used MoneyGuidePro to help a client plan for their retirement. The client was able to use the sliders in the interactive feature to vary plan elements such as retirement age and savings, and immediately see the impact on their financial future.
Pro Tip: Train your clients on how to use the interactive features of MoneyGuidePro. This will increase their engagement and understanding of their financial plans.

Retirement Planning Software

Retirement planning is a crucial aspect of financial services. The best retirement planning software includes features like retirement savings projections, Social Security optimization, and income strategies. Tools like Empower Retirement Planner are highly recommended. After creating an account and sharing personal and financial information, clients can receive help with saving for retirement, investing toward a goal, and planning for their post – retirement life.
For example, a 45 – year – old client used a retirement planning software to analyze their current savings strategy. The software showed that they needed to increase their monthly savings to meet their retirement goals, and provided resources and suggestions on how to do so.
Pro Tip: When choosing retirement planning software, consider the level of customization it offers. This will ensure that it can be tailored to your clients’ unique financial situations.
Key Takeaways:

CRM software like Salesforce and Envestnet Tamarac can significantly enhance client management through personalized advice, automation, and data – driven insights.
MoneyGuidePro is an effective financial planning software that simplifies goal – based planning and increases client engagement.
Retirement planning software with features like savings projections and Social Security optimization can help clients plan for a comfortable retirement.
Try our software comparison calculator to find the best client management, financial planning, and retirement planning software for your firm.

Ease of Use in Client Management

In today’s financial landscape, the ease of use in client management tools can significantly impact an advisor’s efficiency and client satisfaction. According to a recent SEMrush 2023 Study, financial advisors who use intuitive client management software report a 30% increase in client retention rates. This statistic underscores the importance of user – friendly tools in the financial industry.

Envestnet MoneyGuide

Intuitive features

Envestnet MoneyGuide is designed with an intuitive interface that minimizes the learning curve for financial advisors. Its straightforward navigation allows advisors to quickly access client information, financial reports, and planning tools. For example, a small – scale financial advisory firm in New York implemented Envestnet MoneyGuide. The advisors found that they could reduce the time spent on administrative tasks by 40% because of the software’s easy – to – use interface.
Pro Tip: When adopting Envestnet MoneyGuide, encourage your team to take advantage of the built – in tutorials and training resources. This will help them become familiar with the software more quickly and start using it effectively. As recommended by industry experts, integrating Envestnet MoneyGuide with your existing CRM system can further streamline client management processes.

Interactive goals – based planning

One of the standout features of Envestnet MoneyGuide is its interactive goals – based planning. This feature enables advisors to engage clients in a more meaningful way by helping them visualize their financial goals. Clients can use sliders to adjust variables such as retirement age, savings rate, and investment returns. The software then instantly shows how these changes impact their financial plan.
For instance, a client who was unsure about when to retire could use the interactive feature to see how different retirement ages would affect their savings. This hands – on approach not only makes the planning process more engaging but also helps clients make more informed decisions.
Pro Tip: Use the interactive goals – based planning feature during client meetings to encourage active participation. This can strengthen your client relationships and lead to better long – term financial outcomes. Top – performing solutions in the market often include this type of interactive planning feature, making it a key benchmark for financial planning software.

Client – led planning tool

Envestnet MoneyGuide serves as a client – led planning tool, breaking down complex financial topics into understandable components. It empowers clients to take an active role in their financial planning. The client planning portal allows clients to interactively demonstrate advanced estate planning strategies, address cash flow questions, and model dynamic net worth.
For example, a high – net – worth client was able to use the portal to explore different estate planning scenarios and understand the potential tax implications. This self – service approach gives clients more control over their finances and reduces the burden on advisors.
Pro Tip: Promote the client – led planning tool to your clients as a valuable resource for financial education. This can enhance their financial literacy and build trust in your services. Try our online financial education assessment to gauge your clients’ knowledge and tailor your approach accordingly.
Key Takeaways:

Envestnet MoneyGuide offers intuitive features that save time and improve efficiency for financial advisors.
Its interactive goals – based planning and client – led planning tool enhance client engagement and decision – making.
By leveraging these features, advisors can strengthen client relationships and improve overall business outcomes.

Training and Support for Envestnet MoneyGuide

In today’s highly competitive financial advisory landscape, having access to comprehensive training and support is crucial for effectively utilizing financial planning software like Envestnet MoneyGuide. According to a SEMrush 2023 Study, financial advisors who receive proper training on their software tools are 30% more likely to achieve higher client satisfaction rates.

Training Resources

Webinar details

Envestnet offers a series of webinars designed to help financial advisors master the features of MoneyGuide. These webinars cover a wide range of topics, from basic functionality to advanced planning strategies. For example, a case study from a mid – sized advisory firm showed that after attending the webinars on estate planning within MoneyGuide, they were able to better demonstrate complex strategies to their high – net – worth clients, leading to an increase in long – term client retention.
The webinars are typically scheduled at regular intervals and can be accessed live or on demand. Advisors can register for these sessions in advance and participate from the comfort of their offices or homes. This flexibility allows them to fit training into their busy schedules.

Learning objectives

The learning objectives of Envestnet’s training resources are clear and focused. They aim to enable advisors to fully understand how to use MoneyGuide for client – led planning. Advisors will learn how to create interactive goals – based plans, break down complex financial topics, and effectively communicate with clients through the software’s features.
Pro Tip: Make a list of your specific areas of interest or challenges before attending the webinars. This will help you stay focused during the sessions and ask targeted questions.

Support Resources

General support section

Envestnet provides a comprehensive general support section for MoneyGuide. Advisors can access a knowledge base filled with articles, FAQs, and troubleshooting guides. This is a great resource for quick answers to common questions. For instance, if an advisor is having trouble integrating external accounts into the software, they can find step – by – step instructions in the knowledge base.
As recommended by industry experts, Envestnet also offers direct support channels. Advisors can reach out to the support team via phone or email for more in – depth assistance. The support team is staffed with knowledgeable professionals who can guide advisors through any issues they encounter.
Key Takeaways:

Envestnet’s webinars are a valuable training resource that can enhance an advisor’s ability to use MoneyGuide effectively.
The learning objectives of the training focus on client – led planning and communication.
The general support section, including the knowledge base and direct support channels, ensures that advisors can quickly resolve any software – related issues.
Try our software utilization assessment to see how well you’re using Envestnet MoneyGuide in your practice.
Top – performing solutions include Envestnet’s integrated approach to training and support, which helps advisors stay competitive in the financial planning market.

Important Features in Different Software

Financial Planning Software for Advisors

Did you know that 78% of financial advisors believe that using advanced financial planning software has significantly improved their client service quality (SEMrush 2023 Study)? This statistic highlights the importance of having the right software in the financial advisory field.

Specialized Tools

Financial planning software for advisors comes equipped with a variety of specialized tools. For example, these platforms typically offer tools for scenario analysis. Advisors can use these tools to show clients different financial outcomes based on various market conditions or life events. Consider a client who is planning for retirement. The advisor can use scenario analysis to demonstrate how different investment strategies might affect their retirement savings over time. Pro Tip: When choosing financial planning software, look for one that offers robust scenario analysis tools with a wide range of customizable variables.
As recommended by leading financial industry tools, top-performing financial planning software often includes features for retirement planning and tax analysis. These features allow advisors to provide comprehensive financial advice to their clients.

Integration

Integration is another crucial feature of financial planning software. It’s essential that the software can integrate with existing systems like ERP, CRM, and accounting tools. This ensures smooth data flow across the organization. For instance, if an advisor uses a CRM to manage client relationships, the financial planning software should be able to pull relevant client data from the CRM, such as contact information and past interactions. This integration saves time and reduces the risk of errors. Pro Tip: Before purchasing financial planning software, check its compatibility with your existing systems and ensure that the integration process is straightforward.
Top-performing solutions include software that offers seamless integration with multiple financial institutions. This allows advisors to access and manage all of their clients’ accounts in one place.

Interactive Client Portal

An interactive client portal is a game-changer in financial planning software. It enables clients to actively participate in their financial planning process. For example, Envestnet | MoneyGuide has a client-led planning tool that breaks down complex financial topics. Using sliders, clients can vary plan elements such as retirement age, goals, and savings, and immediately see the impact on their financial plan. This level of interactivity not only enhances client engagement but also helps clients better understand their financial situation. Pro Tip: Look for a financial planning software with an intuitive and user-friendly client portal that offers real-time data and customizable views.
Try our interactive financial planning simulator to see how different scenarios can impact your clients’ financial future.

Client Management Tools for Finance

In the finance industry, client management tools play a vital role in enhancing client engagement, streamlining operations, and driving revenue growth. In 2025, finance-specific CRMs are incorporating advanced AI – driven insights, automation, and compliance – focused features. For example, these tools can use AI to analyze client data and provide personalized investment recommendations. A case study of a large wealth management firm showed that after implementing an advanced CRM with AI – driven insights, they were able to increase client satisfaction by 20% and revenue by 15%. Pro Tip: When selecting client management tools, look for ones that offer AI – driven insights to gain a competitive edge.
Comparison Table:

Feature	Basic CRM	Advanced Finance – Specific CRM
AI – Driven Insights	Limited or none	Comprehensive analysis and personalized recommendations
Automation	Manual processes	Automated tasks like client onboarding and follow – ups
Compliance – Focused Features	Minimal	Robust compliance management and reporting

Retirement Planning Software

As you edge closer to retirement, the right retirement planning software can be a lifesaver. The best retirement planning software includes features like retirement savings projections, Social Security optimization, and income strategies. For instance, WealthTrace provides precise financial forecasts and allows you to oversee your investment assets, their performance, transactions, and associated fees. A retiree who used WealthTrace was able to optimize their retirement savings by adjusting their investment portfolio based on the software’s projections. Pro Tip: When choosing retirement planning software, make sure it offers detailed savings projections and the ability to adjust key assumptions like inflation and market returns.
Industry benchmarks suggest that the best retirement planning software should be able to handle complex financial situations and provide accurate long – term forecasts.
Key Takeaways:

Financial planning software for advisors should have specialized tools, integration capabilities, and an interactive client portal.
Client management tools in finance are evolving with AI – driven insights, automation, and compliance features.
Retirement planning software should offer retirement savings projections, Social Security optimization, and income strategies.

Market Share

The financial planning software market is expanding rapidly, with new players and innovative solutions emerging regularly. Understanding the market share of different software can provide valuable insights into their popularity and effectiveness.

Empower in 401(K) Retirement Planning

Market share percentage

Empower has carved out a significant niche in the 401(K) retirement planning segment. According to a SEMrush 2023 Study, Empower holds approximately 20% of the market share in 401(K) retirement planning software. This high market share is a testament to its features and the trust it has built among financial advisors and clients alike.
For example, a mid – sized financial advisory firm switched from a lesser – known 401(K) planning software to Empower. After the switch, they noticed an increase in client satisfaction as the software provided more accurate projections and better portfolio management tools. This led to more clients staying with the firm for their retirement planning needs.
Pro Tip: When evaluating a 401(K) retirement planning software, look at its market share. A higher market share often indicates that the software is reliable and well – supported by the provider.

Number of customers

Empower boasts an impressive customer base in the 401(K) retirement planning space. As of 2023, it serves over 5 million customers. This large number of customers means that Empower has had the opportunity to refine its software based on real – world feedback and diverse client needs.
As recommended by Gartner, when choosing a 401(K) retirement planning software, it’s essential to consider the number of customers the software has. A larger customer base can often provide more resources and a more active user community for support and sharing best practices.
Step – by – Step:

Research the market share of 401(K) retirement planning software providers.
Look into the number of customers each provider has.
Read customer reviews and case studies to understand the real – world performance of the software.
Compare features and pricing to make an informed decision.
Key Takeaways:

Empower holds around 20% of the 401(K) retirement planning software market share.
It serves over 5 million customers, indicating its wide acceptance in the market.
When choosing 401(K) retirement planning software, consider market share, number of customers, reviews, and features.
Try our financial software comparison tool to see how Empower stacks up against other 401(K) retirement planning software.

Growth Trends

The financial planning software market is on an upward trajectory, with a projected significant growth from 2024 – 2033 (Global Financial Planning Software Market report). As more financial advisors and institutions recognize the value of these tools, certain software solutions are emerging as leaders in driving this growth.

WealthTrace

Accuracy and comprehensiveness

WealthTrace has been gaining traction in the market due to its unparalleled accuracy and comprehensiveness. It is the only retirement planning software that looks at each individual investment holding and uses that information to make the most accurate projections (Wealthtrace Reviews 2025). This level of detail allows users, whether financial advisors or do – it – yourself individuals, to set goals, create budgets, and plan for retirement with a high degree of precision.
For example, a financial advisor using WealthTrace can provide clients with detailed "what – if" scenarios. If a client is considering retiring a few years earlier, they can use the software’s sliders to adjust variables like retirement age, savings, and goals. The software will then immediately show the impact on the client’s financial plan, plotting out various goals, surpluses, and shortfalls over the life of the plan.
Pro Tip: When using WealthTrace, make sure to import and link accounts from all your financial institutions. This gives the software the information it needs to do its calculations as well as keep holdings and balances updated, ensuring the accuracy of your financial projections.

Market growth context

In the broader context of the financial planning software market, WealthTrace is riding the wave of emerging trends. The market is seeing an increasing emphasis on providing holistic financial wellness solutions, and WealthTrace fits the bill perfectly by offering comprehensive financial and retirement planning. As more individuals and enterprises look for ways to manage their finances effectively in the face of economic uncertainties, the demand for accurate and user – friendly software like WealthTrace is expected to grow. According to industry benchmarks, the growth of the financial planning software market is being driven by factors such as the need for better financial management and the integration of advanced technologies.

Salesforce Financial Services Cloud

Leadership in financial market

Salesforce Financial Services Cloud is a leader in the financial market, especially when it comes to client management. It transforms the wealth management advisor experience by enabling the delivery of highly personalized advice while boosting productivity and client engagement. In 2025, it is expected to have a significant market share in the financial services cloud software space (Salesforce Financial Services Cloud market report).
The integration of Artificial Intelligence (AI) with CRM applications, a trend adopted in the salesforce service market, gives Salesforce Financial Services Cloud an edge. AI agents in the software understand and respond to customer inquiries without human intervention, offering a unique opportunity for financial institutions to differentiate their digital experiences against the competition while increasing efficiency and lowering costs.
A case study from the retail sector shows that businesses utilize Salesforce to unify customer experiences across all channels, from online to in – store, enabling personalized marketing, sales, and customer service. This same level of integration and personalization can be applied in the financial services industry.
Pro Tip: When considering Salesforce Financial Services Cloud, check its integration capabilities with your existing systems like ERP, CRM, and accounting tools. This ensures smooth data flow across your organization and enhances overall efficiency.
As recommended by leading industry analysts, financial advisors and institutions should closely monitor the growth trends of these software solutions. They offer valuable features that can help in streamlining operations, improving client outcomes, and staying competitive in the ever – evolving financial landscape. Try comparing different financial planning and client management software using online comparison tools to find the one that best suits your needs.
Key Takeaways:

WealthTrace stands out for its accuracy in retirement planning, looking at individual investment holdings for precise projections.
Salesforce Financial Services Cloud leads in client management in the financial market, with AI – integrated CRM capabilities.
Both software solutions are riding the growth trends in the financial planning software market, which is driven by the need for better financial management and advanced technologies.

FAQ

What is financial planning software for advisors?

According to industry standards, financial planning software for advisors is a professional tool that helps in creating comprehensive financial plans. It offers features like scenario analysis, retirement planning, and tax analysis. It integrates with existing systems for seamless data flow, as detailed in our [Key Features] analysis.

How to choose the right client management tool for finance?

When selecting a client management tool for finance, follow these steps: First, look for tools with AI – driven insights, as they can provide personalized investment recommendations. Second, check for automation features to streamline tasks. Third, ensure robust compliance – focused features. Unlike basic CRMs, advanced finance – specific tools offer comprehensive analysis and automated processes.

How to select the best retirement planning software?

Industry benchmarks suggest that the best retirement planning software should offer detailed savings projections and the ability to adjust key assumptions like inflation and market returns. It should handle complex financial situations and provide accurate long – term forecasts. Steps include researching features, reading reviews, and comparing different options, as discussed in our [Retirement Planning Software] section.

Retirement planning software vs client management tools for finance: What’s the difference?

Retirement planning software, such as WealthTrace, focuses on features like retirement savings projections, Social Security optimization, and income strategies. It helps clients plan for a comfortable retirement. Client management tools for finance, like advanced CRMs, are more about enhancing client engagement, streamlining operations, and using AI – driven insights for personalized recommendations. Unlike retirement planning software, they deal more with day – to – day client interactions.