We believe that everyone deserves a financial plan. For your plan to have meaning, it has to be more than a goal of saving $X or an income of $Y/year from a point in time until death. Your life cannot be defined as a single number and has greater complexity than one year looking exactly the same as the next.
Our goal is to help you focus on the life outcomes that are most important to you, in an environment that is private to you with no product sales biases.
For basic assistance there is a chat help box inside the app. From the chat we can usually answer most of your questions. If you are looking for directed financial advice, you can contact one of the fee-for-service planners found on our web site. These planners are all certified financial planners, in addition to holding other qualifications. Initial conversations are always free and how you engage with them after that is up to you.
The application is entirely web browser based so there is nothing to download or install. There is no mobile version currently. We do have plans for a trimmed down mobile version in the future. For the full application you will always need a tablet, desktop or laptop running Google Chrome, Microsoft Edge, Safari, or Firefox.
When it comes to your financial goals there are two parts, the very near term and the long-term. Our focus is the long term and so we encourage you to think of expenses in broad categories and values that are rounded up to the nearest hundred or thousand dollars. Where, when and on what you spend your money is entirely up to you.
Once you sign up our wizard will help you make an estimate of your basic lifestyle costs. Regardless of whether your choices are succeeding or failing we do encourage you to break this number down over time and lend consideration to how individual line items might change with time.
We take security seriously. We use industry-leading encryption technologies used by major banks to secure your information and continuously monitors and upgrade our systems. Data is encrypted at rest and in transit using advanced AES-256 and 2048-bit SSL protocols. Access to your online profile and medical records is protected by your personal login details.
Not a this time. For now we have chosen to pursue data security over convenience.
When forecasting outcomes over periods of 20 years or more it is more important that your data is accurate (a true reflection of your reality) than precise (the exact figures to the dollar or penny).
Absolutely not. We will not sell, barter or give your data away to anyone. We take your privacy very seriously. Only you and your advisor (if you work with one) can see your inputs.
Building a financial plan is an ongoing process, not an event. When you first start, you may find that you log in quite frequently as you flush out details and ideas. Once your plan is going, we recommend you update your plan whenever there is a significant change in your life (including large spikes - up or down - in the values of your portfolios), when you get a new idea about the future, or there is a change to your savings activity.
Typically, people update there plans about once a month.
Out tax logic covers all Canadian provinces.
Interestingly, the term "Robo-Advisor" tends to refer to platforms that provide investment management services, rather than actual financial advice. We do not provide investment management services, nor do we sell any financial products. Better Money Choices is specifically designed to help you map out your plans for the future, not to make recommendations about how to spend or invest your hard-earned money.
Our goal is not to replace the valuable guidance that many financial advisors provide. Better Money Choices is there to focus your life planning on the things that really matter, the things you are aspiring to in life, not the sale of financial products.
We do not provide specific financial guidance but rather empower you to ask better questions of the people who you turn to for advice.
We offer three basic subscription packages, monthly billing at $40 / month, semi-annual billing at $33 / month, and annual billing at $20 / month. To get you started we also offer a 7-day free trial. You must create a user account before selecting a subscription.
Pricing for financial advisors starts starts at $300 / month, please contact us at firstname.lastname@example.org to find out more.
Subscribers can access some data via the "Choice Assessment Reports". The list of reports and exportable data will continue to grow over time.
A sample detailed financial plan can be downloaded here.