High-level software and financial advisor tools aren’t reserved solely for the financial planner. Wealth managers and advisors also find value using these planning tools when developing an investment strategy to help clients reach their financial goals. This type of software gives an advisor a sound understanding of a financial situation or portfolio, in turn, allowing them to deliver investment advice that is both tailored and accurate. The ultimate goal, for using any type of technological tools comes down to building an optimal client experience. 

Tools for Financial Planning

Do Advisors Really Need Tools for Financial Planning?

With the right digital tools, wealth managers and financial advisors can continuously deliver accurate, transparent and personalized advice, which is paramount for cultivating a trusting relationship with those who matter the most, your clients. The most common software tools for investment professionals provide a holistic view of a client’s assets and data. When you can see a client’s entire portfolio, holdings and assets over a period of time, it becomes possible to evaluate performance, make projections and measure risk. 

Although financial planners and investment advisors both benefit from planning tools, they tend to use them differently and have distinctive needs. Financial planning is looking forward, while investment happens in the moment. A planner requires tools that model scenarios, sync data, pull assets, and run scenarios based on that data. An investment advisor is considering tax implications, evaluating the capital requirements, as well as trading and rebalancing. To do this, they need a complete view of client portfolios to make informed decisions. That’s where advisor tools come in.

What Digital Tools Should Advisors Have?

The most common reason advisors and wealth managers look to update their tech stack with new digital tools is because they want to spend more time with their clients. These tools limit the guesswork, research time and overall manpower required to make informed decisions. 

Financial professionals who assist with retirement planning and personal finance can find working with old and inefficient tools frustrating, especially when client data is spread across multiple platforms. When this data is spread out and not properly updated, it’s hard to provide accurate modeling and reporting. This disconnect also affects how advisors manage an investment portfolio and look for long-term opportunities, especially when evaluating the client’s complete portfolio. 

Asset Aggregation

One of the main advantages of using a single source of truth approach as opposed to all-in-one models is in asset aggregation. Advisors want to get a clear picture of a client’s full financial situation, including liquid and alternative assets. Using a system that works in tandem with existing software, data is aggregated and displayed in one holistic view. 


Along with seamless data aggregation and software integration, streamlined reporting also relies on accurate data. Advisors look to fintech to aid in pulling data from various sources and displaying in one easily accessible location. Beyond accuracy, advisors want to be able to pull tailored reports that are customized for specific clients and purposes. 

Open Ecosystem 

As opposed to all-in-one systems, an open ecosystem works in parallel with existing platforms. This method ensures that processes are continuous and there is limited interruption with implementation. Also, the open ecosystem allows for growth at-scale, adapting with changes in the market and integration with new tech. This type of platform is the future for RIAs both due to its effectiveness and its future forward potential. 

Modeling Scenarios 

Another tool that is paramount to financial planners and investment advisors is modeling. Taking a look at a client’s full portfolio, modeling software can create potential scenarios to help facilitate informed decision-making. This type of technology also helps advisors look ahead, manage risk and give sound advice to ensure their clients are making the investments and decisions that make the most sense for their individual financial situation. 

Why Addepar?

Addepar’s platform provides RIAs with a holistic view that benefits both investment advisors and financial planners. Beyond integrating with financial planning tools that perform modeling scenarios as well as sync data with eMoney, we partner with best-of-breed solutions in an open ecosystem. Custodial portals bring all the most valuable information together, which not only simplifies accessing data, but also makes reporting more robust. This means that you don’t have to use a new system, instead, you’ll find all the data and tools you need in one single place. 

By integrating with existing systems and aggregating data from numerous sources, it’s easy to create tailored reports, access customized data and make changes on the fly. Also, through Addepar’s Navigator analysis, advisors can gain command of cash flow expectations to make more accurate investment decisions with a turnkey integration to aggregated portfolio data.

Find Your Single Source of Truth

When thinking about adopting new technology and tools, it’s important to consider the long-term benefit. That’s where Addepar shines. By integrating with existing tools and other platforms, you won’t have to start from scratch. Instead, you’ll immediately have access to more robust data and accurate, timely information. With access to this data at your fingertips, you will find that you have more time for your clients, which has an immediate return. 

Are you ready to make the switch to a platform that will serve as your single source of truth? Connect with us