Financial Analysis / Planning

Wendy

Data Analytics

Analyze and plan financial changes; Client Account Administration: Handle trading and portfolio reporting. Work with clients and their custodians to open accounts and deposit and transfer funds; assist in the monthly closing, calculating accruals, reviewing P&L, performing reconciliations as well as analyzing the variances whenever relevant (e.g. P-card, Concur and Interco accruals). Find Financial Analysis / Planning WFH freelancers on January 21, 2025 who work remotely. Read less

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From double entry bookkeeping right through to preparing and interpreting

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Keep track with a qualified bookkeeper from daily bank reconciliations

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Forex Trading

Help with financial accounts: preparation of monthly and annual

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Help with financial statements. From new supplier set up and

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Top Frequently Asked Questions

What to Know

How can a financial planner assist my business?

A financial planner is a professional who helps individuals and businesses develop strategies to achieve their financial goals. Here's an in-depth look at the roles and responsibilities of a financial planner:

Core Functions:

Financial Goal Setting:
Work with clients to identify and articulate their short-term and long-term financial objectives, whether it's saving for retirement, buying a home, funding education, or estate planning.

Financial Assessment:
Conduct a comprehensive review of the client's current financial situation, including income, expenses, assets, liabilities, insurance coverage, tax status, and investment portfolios.

Creating a Financial Plan:
Develop a tailored financial plan that outlines strategies to meet the client's goals. This plan might include:
Budgeting: Advising on saving, spending, and debt management.
Investment Planning: Suggesting investment options based on risk tolerance, time horizon, and financial goals.

Retirement Planning: Planning for income needs post-retirement through pensions, annuities, social security, and personal savings.

Tax Planning: Strategies to minimize tax liabilities legally.

Insurance Planning: Ensuring adequate coverage for life, health, disability, and property.

Estate Planning: Helping with wills, trusts, and asset distribution to minimize taxes and ensure wishes are met.

Investment Management:

Recommend and manage investment portfolios, often including diversification strategies to balance risk and return. They might directly manage assets or coordinate with investment managers.

Risk Management:
Identify financial risks and suggest ways to mitigate them through insurance or other financial products.

Education and Advice:
Educate clients on financial concepts, market conditions, and changes in legislation that might affect their financial plan. Provide ongoing advice on financial decisions.

Monitoring and Adjusting Plans:
Regularly review and update financial plans as personal circumstances, financial markets, or laws change. This might include rebalancing investment portfolios or adjusting financial goals.

Estate and Legacy Planning:
Assist in planning how assets will be distributed after death, including setting up trusts, wills, and addressing potential tax implications.

Debt Management:
Advise on managing and reducing debt, including strategies for paying off loans, credit card debts, or mortgages more efficiently.

Retirement Income Strategies:
Plan for the transition into retirement, ensuring income streams are sufficient for lifestyle maintenance throughout retirement.

Additional Responsibilities:

Client Relationship Management: Building long-term relationships, understanding client’s changing needs, and providing personalized service.

Compliance and Ethics: Adhering to regulatory requirements, maintaining ethical standards, and often holding certifications like CFP® (Certified Financial Planner) which require ongoing education.

Interdisciplinary Coordination: Working with or referring clients to other professionals like accountants, lawyers, or investment advisors for specific needs.

Tools and Techniques Used:
Financial Planning Software: To create projections, scenarios, and detailed plans.
Risk Assessment Tools: To evaluate investment suitability and insurance needs.
Tax and Investment Calculators: For planning purposes.

Who They Serve:
Individuals at various life stages from young professionals to retirees.
Business owners needing personal financial advice or business financial planning.
Families, especially for estate planning and education funding.

Financial planners can work independently, in financial advisory firms, banks, or as part of comprehensive wealth management teams. Their primary aim is to provide clarity, direction, and peace of mind in navigating financial complexities, helping clients to make informed decisions towards achieving financial security and independence.

What financial planning software is tried and tested?

Choosing the "best" financial planning software for your SME can depend on specific needs, but based on reviews, market share, and features, here are some top contenders that were notably recognized during that year:

Top Financial Planning Software used by professional accountants:

MoneyGuidePro (Envestnet MoneyGuide)
Market Share: Held about a third of the market share among financial advisors.
Features: Known for its intuitive interface, scenario planning ("what-if" scenarios), and client engagement tools. It's praised for simplifying the process of gathering client data and developing strategies for financial goals.

eMoney Advisor
Market Share: About 28% market share currently for its Pro version.
Features: Offers comprehensive financial planning tools with a strong emphasis on detailed cash flow analysis, real-time data, and client-facing tools like a financial feed for alerts and news. It's versatile, offering different levels of service from basic to advanced planning.

RightCapital
Market Share: Approximately 16% currently, showing growth from previous years.
Features: Focuses on a middle ground between overly complex and too simple, providing tailored financial plans with tools like RightIntel for business intelligence, RightPay for client billing, and Snapshot for personalized planning. It's noted for its appeal to a younger, tech-savvy demographic.

Quicken
Focus: While traditionally known for personal finance, Quicken has robust features for financial planning, including budgeting, investment tracking, and retirement planning.
Features: Offers a comprehensive suite of tools for both personal and business finances, with a strong track record for managing investments alongside day-to-day financials.

Planful
Target Audience: More focused on businesses for FP&A (Financial Planning & Analysis).
Features: Provides cloud-based software for financial planning and analysis, including budgeting, forecasting, and reporting. It's known for its scalability and integration capabilities.

Sage Intacct
Features: Known for its cloud-based financial management solutions, offering robust budgeting, analysis, and planning tools. It's highlighted for its integration capabilities and multi-entity management.

Board
Features: An intelligent planning solution with tools for budgeting, analysis, and reporting. It's praised for its ability to handle complex financial models and scenarios.

Key Considerations for Selection:
User Interface: How user-friendly is the software for both advisors and clients?
Integration: Capability to integrate with other financial and CRM systems.
Scalability: Can the software grow with your practice or business?
Features: Does it cover the breadth of financial planning needs from basic to advanced scenarios?
Client Engagement: Tools for client interaction, like portals or dashboards.
Compliance and Security: Ensuring client data is handled securely and compliantly.
Cost: Evaluate the pricing structure against the value provided.

When considering the "best" software, remember that what works for one firm or individual might not be ideal for another due to differing needs, client bases, or business models. The above software solutions are well-regarded, but always check for the latest reviews and updates as software evolves rapidly.

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