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Cashflow planning software from sees jump in usage

12 August 2018

Cashflow planning software CashCalc has seen its funds under calculation jump by 54% during the first six months of 2018, taking the total figure to beyond £50bn. 

Since the start of the year the number of clients added by advisers into CashCalc increased by 26%, while the number of cashflow plans that have been drawn up rose by 77%.

CashCalc said the sharp increase in interest was as a result of cashflow planning transitioning from a niche activity to a mainstream service.

Funds under calculation is calculated as the sum of the total liquid assets of every client entered into CashCalc with at least one cashflow plan, the firm said.

Ray Adams, Founder of CashCalc and director of chartered financial planners Niche IFA, said: “Demand for cashflow planning keeps increasing and CashCalc is increasingly seen as the go-to place to conduct a cashflow plan. Our focus on developing software which is easy for the financial adviser to use and easy for the client to understand has certainly been well received.”

CashCalc said that it expects the number of advisers using cashflow planning to increase going forwards after former FCA technical specialist Rory Percival suggested that it has effectively been mandated from 1st October for all Defined Benefit (DB) pension transfer advice.

He added: “Increasing our funds under calculation by over 50% in only 6 months is a serious achievement, and in itself highlights the rise of cashflow planning as a service. However, only 39% of financial advisers conduct cashflow planning regularly with clients. This means a large proportion of the industry are still yet to fully buy into the benefits of cashflow planning.”

Professional Paraplanner