Financial planning software ranges from a free budget spreadsheet to the cashflow modelling tools advisers use with clients. The right one depends on whether you are planning your own money or running a planning practice. Whichever you choose, the software projects a future based on your assumptions; it doesn't give regulated advice.
Financial planning software for personal use
Financial planning software for personal use usually covers three things: a budget (income against spending), a net worth view (assets against debts) and a forecast of how savings, pensions and investments might grow. Many people start with a spreadsheet. Dedicated apps add bank connections and charts, and some link to pension and investment accounts. MoneyHelper, the government-backed service, offers free tools including a budget planner and a pension calculator, which are a good place to start before you pay for anything.
Financial planning software UK: what to check
- UK tax wrappers. ISAs, pensions and the UK allowances, not US account types
- Assumptions you can change. Inflation, growth and charges, plus the option to run a cautious case
- Pensions. How the State Pension and workplace pensions are treated
- Data security. How bank connections work, and whether the provider is FCA-authorised to access your accounts
- Export. The ability to take your data with you
For advisers and small planning firms
Financial planning software UK advisers use adds client records, cashflow modelling, report generation and compliance records. If you run a planning practice, check that it supports your record-keeping duties, integrates with your back-office system and investment platforms, and produces reports clients can understand.
The limits of any planning tool
A projection is only as good as its assumptions, and tax and pension rules change. Treat results as a way to compare scenarios, not as a forecast. For decisions about pensions, investments or tax, speak to an FCA-authorised advisor; see our guide on how to find a financial advisor in the UK.