SimpliFi: Online Financial Planning

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Thu, Aug 20 - 12:27 pm EST | 9 years ago by
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Currently, less than 5% of Americans have a written financial plan, but those with a plan are 250% more likely to achieve their financial goals.”

This is an interesting — and somewhat alarming — statistic. I received it from the folks at SimpliFi. So I checked out the site and was intrigued by what I saw. First of all, SimpliFi is a free online financial planning service. It takes you through the steps of creating your own financial plan, and helps you monitor your goals, and how close you are to achieving them.


SimpliFi also can help you figure out where the trouble spots are in your financial life, and even provide investment advice. As you might expect, the site claims that using its service is the same as meeting with a financial planner. The modeling engine used is the same thing used by most of the certified financial advisers out there. SimpliFi is actually registered with the SEC as an Investment Adviser.

While I’m not sure that SimpliFi really would replace a financial planning meeting in person, I think that for the motivated do-it-yourselfer this is a great personal finance tool. It is an excellent way to get a visual on where you are, and where you want to go. And it can provide some guidance to you as you work to achieve your financial goals.

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  • The Biz of Life

    I tried this out over the weekend. The user interface was nice and worked well, but the analysis seemed rather cookie-cutter…. not one size fits all, but maybe 30 sizes to group you in by category. I’ve had financial planners run similar analysis and they typically take down your vital info and have a software package print out a plan for you, so not that much different than this program. Bottom line is most are trying to get commissions by selling you their products….. the best are fee based and could charge 1 – 2% a year to place your money in mutual funds that also charge a management fee, such as DFA and other institutional funds that aren’t available to individuals…. or you could just use the John Bogel (or others) approach of asset allocation through index funds and pay approximately .25% in fees. Financial planning is not rocket science, but it does require some clear-headed thinking and a lot of research.

  • Bryan Link

    Hi Miranda-
    Thanks for reviewing our online planning service. We certainly appreciate your interest and the positive comments. Two quick things:

    1) we don’t think of our online service as being “the same as meeting with a financial planner.” We try to replicate, as best we can, the experience a user would have with a face-to-face planner, understanding of course that we can’t handle every financial circumstance a user might face. Having said that, for most people our service helps them deal with the major issues they face–quantifying goals, looking at appropriate savings/insurance, and constructing a basic monthly spending plan.

    2) 80% of our 50k+ users are women. I’m sharing this with you because it’s pretty remarkable (at least we think so) and it speaks volumes about the kind of financial advice and experience many women are seeking online these days.

    Take care and feel free to contact me if you have follow up questions. Thanks again!

    Bryan Link
    CEO – SimpliFi

  • Miranda Marquit

    I like index funds, too :)

  • Miranda Marquit

    Thanks for the information, Bryan. I probably should used the quote I received from your people: “Visiting SimpliFi is comparable to meeting with an expensive financial planner in person”, rather than paraphrasing. And I agree that it is very interesting that most of the users are women. Clearly women are trying to become more financially savvy than maybe they have been traditionally.

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