Ranking Online Financial Planning Services

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18 August 2000


Cambridge, MA, USA, August 18, 2000

Online Financial Planning Services: Ranking US Providers Report Published by Celent

Report finds that financial institutions can increase the value of each customer relationship by over US$3,000 by offering online financial planning

In a report, titled "Ranking the Vendors of Online Financial Planning Services," Celent Communications evaluates nine online financial planning vendors grouped into two separate categories -- single planner solutions and comprehensive planner solutions. The report provides an in-depth comparison of each vendor. This report is an indispensable guide for financial institutions wishing to provide online financial planning services to their customers.

"While financial planners have been used mostly by high net worth individuals, online financial planning tools allow lower and middle income families to sketch out efficient long-term financial decisions," noted Isabella Fonseca, the lead author of the report. "In an effort to provide an array of products and services to all their retail prospects and clients, financial institutions want to position themselves as the gateway for this online advice. In order to reap the benefits of financial planning, financial institutions will need to integrate online financial planning solutions with their own systems and databases to enable cross-selling".

The Top 3 Online Financial Planning Solutions Rank Comprehensive Planners (encompassing multiple life events) Single Life Event Planners (e.g., retirement, education, etc.) 1 DirectAdvice Financial Engines 2 AdviceAmerica mPower 3 AssetPlanner TeamVest