myMoneyGuide comes back from three-month hiatus with upgrades

myMoneyGuide, a financial planning tool from the creators of MoneyGuidePro, is back online after a three-month hiatus, during which the company was making revisions. The tool, which first rolled out in October last year and allows advisers' clients to create a financial plan in an interactive session online, was put on hiatus in April so that it could be updated with the newest version of MoneyGuidePro, the financial planning software for advisers. myMoneyGuide is available to any financial institution or employer with a MoneyGuidePro license. There are eight types of labs, which are focused on specific situations, including for those nearing retirement, in the military or who are the female financial decision-makers, with more to come. More than 100 sessions are held throughout the day. Advisers invite existing and prospective clients to sign onto myMoneyGuide, so that they can begin building a financial plan, taking into consideration their goals and expectations leading up to and into retirement. Upon completion, advisers can then discuss these plans with current and prospective clients. Clients can begin their sessions as soon as they enter the site and the duration of the sessions vary. Enterprise users can now also customize the tool, which can be placed directly on their websites for clients to access. Pricing remains the same, however: $75 for every person who participates in a lab. The cost is based on scale for enterprises. The purpose of myMoneyGuide is to address the needs of every demographic with these sessions, said Kevin Knull, president of MoneyGuidePro. "Not all clients are the same," he said. MoneyGuidePro is the most popular financial planning program for advisers in a 2015 InvestmentNews popular tech survey. The company has been making a sweep of changes to its services. Earlier this year, it launched the fourth generation version of the software, right in line with the Department of Labor's fiduciary rule, which requires all advisers act in their clients' best interest on retirement accounts.