eMoney Reviews & Product Details

I like the detail of a client's life that I can account for. I describe it as the closest thing we have to a time travel machine to replicate their life today and project out into the future. Also, the eMoney service is great to check that what I am modeling makes sense and is accurate. Review collected by and hosted on G2.com.

Some parts are not intuitive and if I don't call into eMoney support I can make mistakes that impact recommendations. An example is the other day I had a client who created their own detailed spreadsheet. The spreadsheet showed that he and his wife should take social security at 63. In the office we rarely if ever recommend taking social security before FRA. The results in his plan were showing they should delay to 70 or at least take a 67. I was pretty confident of the results and didn't call in. The client called me on it because in the cash flow the social security benefit at 63 was too low. I called into eMoney and that checked out because I left benefit specified as Full Retirement Age amount for the base facts and comparison plans so the benefits were reduced more than necessary because I entered the specific amounts from social security statements the client provided. Learning lesson for me to call in and have someone look over planning I am doing. It was a simple mistake and the client's probability of success wasn't hurt really in any instance, but I want to maintain us as the experts giving guidance as much as possible. I have used eMoney a lot in my current role and previous role so I don't know that I would change anything, but I wanted to share my experience in case the smart people on your end can make use of that to make the platform more intuitive. I just checked and if I hover it explains what each benefit specified as means. So really I don't know how to protect it from a user making an error like that, but that was something recent and relevant. As soon as I get pretty confident in modeling things in eMoney it seems like I will trip up on something fairly straightforward like that. The open architecture of advanced planning is great since pretty much almost anything can be built so a second set of eyes is always helpful. Review collected by and hosted on G2.com.

I love the easy-to-use interface. As a new financial planner, I was able to learn the software in a short amount of time. I love the customer service as well; they are always eager to help with any issues that come up. We use the software all the time for planning meetings and clients love it! Review collected by and hosted on G2.com.

I do not like how the connections for some accounts disconnect very often. Review collected by and hosted on G2.com.

eMoney provides me with a way to visually show and track a client their real-time net worth as well as providing confidence, clarity, and calm regarding their retirement projection. The Monte Carlo analysis is top notch and our firm can deliver clients actionable recommendations on all things pertaining to their retirement in a financial planning relationship. Review collected by and hosted on G2.com.

That not all financial institutions are easily linkable, and is clunkiness or issues with re-establishing links to certain custodians. Review collected by and hosted on G2.com.

I love how much I can do. I can model extremely specific financial scenarios that benefit my clients tremendously. There are hardly any limitations when it comes to creating impressive, comprehensive financial plans. The data entry is intuitive and easy to understand. Goals planning and decision center are life savers when it comes to analyzing specific scenarios for most clients. Review collected by and hosted on G2.com.

Only a few things come to mind. I have trouble modeling the following:

1. Debt Payoff - I'd love to more easily put in a debt snowball that automatically rolls the prior payment to a new debt. Currently, if a debt gets paid off mid-year, I have to manually figure out how much to apply to the next debt that year and then do the full amount the following year. It's just not very precise and takes a lot of time.

2. Home purchases with shorter and more specific time horizons. If a client/prospect says to me: "My lease is up in June next year. I want to buy a house at that time." It's really challenging to accurately model that for them to account for 6 months of rent plus a mortgage payment for the rest of the year. The current Buy/Sell Transaction feature would just start the mortgage on January 1 and over project their spending. It obviously doesn't make a huge difference in their overall long-term plan, but I would love to be able to project short term plans more effectively. Review collected by and hosted on G2.com.

I love how detailed eMoney allows me to get with cash flow modeling. I pretty much exclusively use the advanced planning mode, and data entry is efficient. I started using the software 2 years ago, and I receive da lot of support from eMoney as a new user. I had an eMoney coach that helped me to understand how I could best leverage the software in my work with clients, and she directed me to a lot of helpful resources. Their help database has a ton of resources in lots of different formats on pretty much any topic you can think of. I almost never have problems with our Tamarac account integration. Review collected by and hosted on G2.com.

eMoney is great for 99% of client cases. However, there are a few times a year where I run into a situation that is tough to model because a client will have a very unique situation like selling a future property after a remodel and a mortgage rate adjustment which is a pain to model. If something goes wrong, it an be tough to troubleshoot and find the problem. eMoney support is the best resource if you run into that type of problem, but they can also struggle on very complex issues. I don't always get a helpful resolution on my complex questions and often I have to try to find a workable solution I can present to the client myself. Review collected by and hosted on G2.com.

I like that it is extremely easy to navigate and present with clients. The implementation into our business has been seemless and integrates with other software that we use like Black Diamond. We use this with every client and it adds a huge value to what we do as advisors to be able to change different assumptions and allow clients to look at their plan from a holistic point of view. Review collected by and hosted on G2.com.

It is crucial that the data you input is analyzed before showing a client. There are various assumptions eMoney makes that we might not make intuitively as advisors like the method of withdrawing funds in retirement. These are customizable, but it is important to double check before meeting with a client. Review collected by and hosted on G2.com.

I like the ability to run comprehensive reports and financial plans. I like that the software is pretty easy to use. The chat support feature is very nice and I love that I can add pictures to describe the issue I am having. I use it every day for every client I serve. Review collected by and hosted on G2.com.

I wish we could have access to healthcare simulators/IRMAA brackets. The integrations for some smaller credit unions isn't great. Review collected by and hosted on G2.com.

The holistic and comprehensive features, quick turnaround on new implementation, the customer service always knows what they are doing and is quick to respond. They actually hear out ideas and suggestions and will work with you to help accurately represent situations in the Decision Center. Everything about this software is a must-have and must-use for advisors who care about giving quality advice. I use eMoney daily and out clients have grown to love the Vault as a means of sharing documents. It intergrates seamlessly with the accounts we oversee and clients are able to update outside accounts on their end. It is an easy to use, intuitive software that I don't think I could ever work without. Review collected by and hosted on G2.com.

There is truly not one thing I dislike about eMoney. Review collected by and hosted on G2.com.

We say that our firm is "financial planning centric." eMoney is key to enabling us to live this out. It is robust and also constantly evolving to bring new tools and adapt to changes in markets, policy, and more. Most of all, it allows to illustrate the impact of potential decisions in the context of a client's complete financial picture, rather than in isolation. This helps to avoid unintended consequences and narrow thinking. Review collected by and hosted on G2.com.

If there is anything to dislike, it is that it can be a bit clunky to navigate through. Also, the client portal's budgeting tool struggles at times to properly categorize spending, and the connections to outside accounts frequently break. Review collected by and hosted on G2.com.

eMoney is the most comprehensive financial planning software available. It allows the serious planner to model anything a client throws at you. Their customer service is second to none, with a knowledgeable representative available to assist you with almost any question you may have. Review collected by and hosted on G2.com.

Due to its highly accurate cash-flow modeling, eMoney does take more time than less detailed planning tools available. However, eMoney does offer a simpler planning tool, which I haven't used, as my clients and I appreciate the more detailed planning. Review collected by and hosted on G2.com.