Advisers key despite planning-software glut; Technology cannot replace counseling.(Software & Technology)

Investment News, June, 2003

Byline: Liz Skinner Financial planning software has evolved so that users can now set up stock option and tax strategies, as well as run Monte Carlo simulations that evaluate their portfolio risks. There are dozens of financial planning software packages and other online tools available to the average investor.

For example, the $27 Financial Advisor program, offered by The Other Software Co. in South Africa, helps evaluate mortgages, set retirement goals and even generate lottery numbers, "for when all else fails.'' Those who are uncomfortable with such little-known software vendors could seek out more-sophisticated tools that cost several hundred dollars, such as those offered by Financial Engines Inc. of Palo Alto, Calif., which sells...

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