Cash Flow Modelling

[swanny]

The new "methology" is cash flow modelling" however the cost of this type of software is outrageous.

Have you found a cheaper alternative

[Gosh!]

Hello Swanny,

I use cash flow modelling software, and I am not sure what you class as outrageous.

I pay just over £300 per month, but would say I get between 4 and 10 times this in additional productivity per month so it is money well spent. It does give you a competitive advantage compared to other advisers.

And to be fair, you say that cashflow modelling is a new fad, but it has been around for a very long time. Twice as long as I have been in financial services.

[swanny]

Hi Gosh

I suspect you use "truth"

I hate "renting" software and a piece of software that costs £3,600 per annum is awful.

This is just a calculation and could probably be done in excell if only I knew how.

I have not seen sample reports as they do not put them on there website.

However I am still looking for the right program.

Have a look at this

http://www.emoneyadvisor.com/emacorp/default.htm

try it for 30 days, I downloaded all the reports as they are in word

[Gosh!]

Hi Swanny,

You are spot on. I do use Truth. My costs are about £1000 less than you have suggested, and I agree it is a big investment to make.

I am glad that more financial advisers do not use this software as it does set me aside from the run of the mill advisers and allows me to provide an added value service.

I spend a 5 figure income on software to really provide the "wow" factor to clients. It really does make a massive difference, and easily pays for itself over the year.

I saw a client yesterday, and wrote enough business to pay my truth licence for the next three years. I don't think I would have got this client and the business I did without it.

Sometimes an investment is worth it, and sometimes it is a waste of money. I guess as with all things it is why you make the investment and how you plan to move forward with it which determines whether you get value for money or not.

Have the word reports which you downloaded from your free trial provided any good benefit to your business?

[swanny]

Hi Gosh

They are visually pleasing.

Having been in the business 15 years where we produced reams of paper to impress the client. I now use the KISS principal.

I have known Paul Etheridge (Owner of the Truth) for some years and he does like producing lots of paper. I tend to use the data and produce my own graphs to get my point across.

If you have a look at the US they have some very innovative software, but I like to produce visuals.

I find it interesting that the Truth does not have any sample reports on its website.