We all know that highly efficient Financial Advisor software is super important to keep track of finances and future plans. Out of all, the two most credible ones that are mainly used are eMoney and MoneyGuidePro.
Advisors often search about which one is best among these two, they should use for their clients, but there are not many details available.
Well, worry no more.
Here, We are discussing both eMoney and MoneyGuidePro in detail. Lastly, We are also making a comparison table of both, so that you can decide which is the most suitable for you.
- Both eMoney and MoneyGuidePro help advisors and clients.
- eMoney is one of the costliest financial advisor software there is, while MoneyGuidePro is affordable.
- MoneyGuidePro has a slightly weaker privacy protection system, but eMoney uses top-notch security services.
- eMoney does not have the life expectancy feature, event-changing factor, presentation slide maker, or many other features that MoneyGuidePro has.
- Experts suggest eMoney for high-net-worth clients and MoneyGuidePro for low-net-worth clients.
Let’s dive right into the details!
Edmond Walters, a financial advisor, launched eMoney for everyone in 2000. All financial advisors loved the software as it helped them create better plans.
More than two decades later, eMoney is now one of the most successful financial advisor software that has helped millions of people (both directly and indirectly).
Directly, it has aided financial advisors in making top-notch plans for their clients. This financial advisor software has indirectly helped millions of people get the plans they needed.
As of yet, it is estimated that eMoney has produced more than 3 million financial plans. In addition, they also have more than 2 million client portals too.
Want to know its details? Then continue reading.
eMoney has a friendly interface that is easy to navigate and understand. Just open the website and everything will be in front of you.
There is also a feed where you can check out the latest developments in the field of finance. This helps the advisors and other people (who are passionate about the businesses) get an idea about what is happening in the market and what people are talking about regarding financial plans.
It is also really easy to log in there. Furthermore, there is also a search bar on the top where you can add your query and get the result/answer you want.
eMoney also has a client portal where there is every financial information about the client, like net worth, budgets, etc. Advisors can use it to get the printouts of the reports at any time they want
The Clients of financial advisors can also use it to get access to their reports using the portal. This also ensures transparency and builds trust.
When it comes to planning, eMoney is really user-friendly. It offers plans for advisors, enterprises, and for others too to secure their financial future.
You can avail the following:
- Goal Planner
- Decision Center
- Distribution Center
Goal Planner is about some specific goals like post-retirement, education, etc. The Decision Center is for planning cash flow, and the Distribution Center deals with the planning of the estate.
Advisors can use these three plan portals and calculate the chances of future success. How? By analyzing all the data that is gathered there.
Also, eMoney makes it easy for everyone with its “Functions” features. With this, advisors can get an idea about potential actions.
eMoney allows users to connect to a third party for better data handling. Some of the famous ones that people love to connect with are:
You can also add CRM, market researching software, or any other tool to improve your experience with eMoney.
We also suggest you do this because the third-party tools will help you manage the workload. You can focus more on getting new clients when the work is reduced.
When it comes to financial data, one of the main things to look for is whether the software can handle any breach attempt or not. If not, there is a higher chance that hackers could access all of your financial information.
Luckily, eMoney is super strong because it has the following things to boost security:
- Cloud Protection
- 256-bit, Secure-Socket Layer encryption
In addition, eMoney takes data storage seriously. That is why every piece of information is stored in Sungard Data Systems, where everything stays secure.
eMoney is costly when you compare it with other financial advisor software. Its annual cost is 3,600$ per advisor, which is a lot.
But when you look at the benefits, you will realize the money spent is worth it. So, We Suggest you use eMoney for bigger clients who have higher net worth.
MoneyGuidePro is perhaps the most famous financial advisor software there is. It was first launched in 2001, and since then, it has been the advisor’s favorite.
According to Financial Planning Magazine’s RIA survey, MoneyGuidePro has been the first choice as an advisor software over others for the last seven years straight.
Let’s see the top things to love about MoneyGuidePro.
MoneyGuidePro has an elegant and straightforward interface, with which you can easily navigate the whole site easily.
You can check out the free trial information, reviews, plans info, and pretty much everything with just a single click.
MoneyGuidePro has a bit of a unique client portal than eMoney. It has added a function called Life expectancy.
There, you have to choose some options like Smoker or Non-Smoker, current health, etc. After this, MoneyGuidePro will display the age expectancy of the client.
If the client is married, then MoneyGuidePro will calculate the life expectancy of both husband and wife. This will allow advisors to make a plan considering the probability of their remaining age.
There is a PlayZone when you open the MoneyGuidePro screen. There, you can add choices and then see the effects.
It is really easy to make a plan on MoneyGuidePro. A great planning feature about this software is that it converts data into presentation-style slides.
This helps advisors in making a better plan, which is easy to understand for the clients.
And let’s face it. Advisors and the clients need to be on the same page.
MoneyGuidePro also allows the advisor to include the client on the portal to successfully plan the financial future. Both can add input, but ultimately it is the advisor who will remain in charge. The Advisor can change the settings and restrict the client from seeing some of the modules.
Generally, the advisor allows the clients to see their:
- Tax details
- Return on Investments
- Project expenses, and much more.
Also, as mentioned above, PlayZone is one of the best things about MoneyGuidePro. There, you will add the input and then check the possible outcome of it.
You can even check about what a specific event might possibly impact the financial situation in the future.
That’s not it.
MoneyGuidePro does not leave the Advisor on its own. It also provides more sophisticated solutions like
- Custom report templates.
- Help in Estate planning,
- Risk management tools, etc
Also, there is a “Star Track” in which advisors can compare the financial plans with others or previous ones they designed (which helps in better strategy formulation).
MoneyGuidePro supports more third-party apps than any other financial advisor software (including eMoney). On the official website, there are 44 websites listed.
You can start using CRMs, project management tools, and whatnot when you go for MoneyGuidePro.
MoneyGuidePro is not as strong as eMoney when it comes to security. Still, it is enough to protect your data from theft.
It uses Symantec (formerly VeriSign) Secure Site Pro SSL Certificates with a minimum of 128-bit encryption.
MoneyGuidePro is cheaper than most of other financial advisor software. Its annual cost is 1,295$ per advisor.
You can also use the free trial to check the top-most features before you pay the subscription. No credit card required for a free trial.
So, that’s all about eMoney and MoneyGuidePro comparison.
To make things easier for you, We are now comparing both side-by-side in a table.
A comparison table is indeed super helpful in deciding which is the best financial advisor software that you should use.
|Interface||User-friendly interface||User-friendly interface|
|Planning||Does not include life expectancy, event change factor, and presentation slide options.||Includes life expectancy, event changes, and presentation slides options.|
|Third party Apps Compatibility||Yes.||Supports more third party apps than eMoney.|
|Security & Privacy system||Excellent security and privacy system.||Less Powerful than eMoney.|
|Cost||It is Expensive than MoneyGuidePro (3,600$/year).||It is cheaper than eMoney (1,295$/year)|
|Cash Flow||Cash flow data is supported.||No Cash flow data.|
|When is it Perfect?||For higher Net worth clients.||For lower net worth clients.|
All-inclusive, both eMoney and MoneyGuidePro are excellent choices if you are looking for top-notch financial advisor software.
But when we compare their features, it is clear that eMoney has a slight edge over MoneyGuidePro. However, it is more expensive too.
So, We suggest you use eMoney for high net-worth clients only. If your client has low net worth, then MoneyGuidePro is a perfect choice.