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Survey highlights top reasons for cash flow modelling software selection

30 August 2018

‘Ease of use’ and the ‘quality of visual and graphical images’ are the two leading attributes advisers consider when choosing cash flow modelling software, according to research by Focus Solutions.

The software provider said both factors scored 29% in a survey of seven adviser firms and networks representing over 11,000 advisers.  ‘Cost and integration with existing platform’, ‘fast journey from fact fund to illustrations’ and ‘ability for client to engage with the process’ were also considered important.

Two-thirds of respondents believe cash flow modelling is essential to the advice process, while those who do not use cashflow  modelling cited either that their client doesn’t require it or they prefer to use their own systems such as excel-based planners.

Steve Andrews, head of managed services, Focus Solutions, said: “Cash flow modelling tools are becoming more widely used within advisory firms, supporting both lifetime holistic planning services as well as supporting specific activities such as identifying a customer’s capacity for loss.

“Having the ability to illustrate real time and future financial events in a clear and interactive way has improved adoption, whilst having a tool that can be used with customers face-to-face and in remote co-browsing sessions has seen it being more widely adopted in initial customer meetings and within ongoing reviews. Although some advisers still don’t use cash flow modelling, those that do tend not to go back in our experience.”

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