Boston, MA, September 13, 2010 – A new report from Aite Group compares financial planning solutions from 11 market players worldwide. Aite Group divides these firms into three categories: (1) those focused on providing deep financial planning capabilities, (2) those offering financial planning solutions that integrate other wealth management capabilities, and (3) those boasting traditional strength in investment management technology alongside financial planning capabilities obtained through acquisition or internal development. The report segments the vendors by geography, institutional presence, and client wealth segment. It also names the most suitable solutions for each of five segments of financial advisors based on their financial planning focus.

The global market for financial planning software has seen a number of new entrants over the last decade from software firms worldwide. Several new solutions were introduced in the United States in the early 2000s to enable the democratization of financial planning driven by Web-based technology. Financial advisors in the Asia-Pacific region now have a few solutions to consider, and new solutions and offerings in Europe are addressing financial institutions’ needs for integrated, multi-channel financial planning.

“Financial planning will become a more important part of financial advisors' value proposition as regulators in key financial markets draft legislation that requires financial advisors to act as fiduciaries with all clients, and wealth management firms seek to differentiate financial advisors' offerings from those of online brokerages” says Sophie Schmitt, senior analyst with Aite Group and author of this report. “The growing importance of financial planning will require greater technology adoption by financial advisors, which could lead to new purchases or replacements. Selection of the right financial planning tool requires that financial institutions spend time understanding how their financial advisors leverage financial planning to grow business.”

The report profiles PIE Tech MoneyGuidePro, EISI NaviPlan and Profiles, PlanPlus Planit, AdviceAmerica AdvisorVision, Finantix Components for Financial Planning, Polaris Intellect Wealth FNA, Tata Consultancy Services TCS BαNCS Wealth Management, SunGard WealthStation, Informa Investment Solutions WealthIQ, Scivantage Financial Compass and Methuselah, and Thomson Reuters Financial Planning.

This 90-page Impact Report contains 22 figures and 22 tables. Clients of Aite Group's Wealth Management service can download the report.