Our most common questions and their answers

What is Moneyscope?

MoneyScope is a simple, easy-to-use financial planning tool. It has been designed to be a simple yet powerful system that removes the complication from financial planning for you and your clients.

Do I have to install any software?

No.  MoneyScope is online software which can be accessed from any computer with an internet connection.  It is designed to work with all the main internet browsers including Internet Explorer, Firefox, Google Chrome and Safari.

Is it only available in the UK?

Although we are based in the UK, the software will work for advisers and planners anywhere in the world.  At this time we only support English as a language and the three main currency symbols.  If you wish to use MoneyScope and your currency is not supported, please contact us.

Who is Moneyscope for?

MoneyScope is for financial planners and advisers and is not currently available to the general public.

Do you have any video demos?

Yes, the videos are on our blog and we will be adding more as we go.  Just click the links below:

Adding a client and producing a financial plan

Which account should I go for?

If you will be the only person using the account then a Solo Plan is the one to go for.  If you want more than one person to use the account, the Small Firm plan will be suitable.  If you want something else, a Group Plan is the one and we can discuss bespoke terms with you.

Can I upgrade my account?

Yes, you can upgrade or downgrade your account at any time.

How will new users know about their account?

An email will automatically be sent to new users informing them that their account has been set up and providing useful information to get started.

When and how do I pay?

If you are happy with MoneyScope after the first 30 days we will ask you to enter your credit or debit card details in the secure area of our site and make a payment in arrears.  Payment will then be taken every 30 days in arrears.  We will send you an email before the first 30 days are up to inform you of this.  If you are not happy with MoneyScope you simply don't provide your credit or debit card details and don't make a payment; you are not obliged to pay at the end of the first 30 days unless you wish to continue using MoneyScope.

How do I cancel my account?

The account owner is the only person who can cancel the account.  Simply go to the account management area and cancel the account.  MoneyScope is a month-to-month, pay-as-you-go service so we don’t provide refunds. You are billed every 30 days for the service. You can cancel the service at any time and you won’t be charged again, but you are responsible for any charges already incurred.

How does the free trial work?

We don't like software where you have to commit to long term licenses or notice periods. More importantly, we hate having to give our credit card details to access a free trial.

MoneyScope does not have any of these restrictions. You can set up a free trial on a Solo or Small Firm plan and have full and free access for 30 days. At the end of this period, if you want to keep on using the software we will ask for your credit or debit card details and start charging you. If not, your account will no longer be usable and you will not have to pay a penny.

If you do become a paying user and want to stop your account you can do so at anytime and will not be charged again.

Software should be easy to use and easy to stop using too.

What's the difference between the types of user?

The person setting up the account is the Account Owner. He or she has full control over the account, can see and edit all users and can also see all clients of all users. The Account Owner is also the only person who can access the payment options and details. Account Owners can add or remove users and set permissions.

An Account Admin can do and see the same things as an Account Owner apart from the payment options and details.

A Planner can only see his or her own clients and has now other control over the account.

What should I do as soon as I've set up an account?

If you are the Account Owner or and admin user you should go to the Account Management area and click Edit Account and then set the regulation statement for your company.  This will probably be the same as the one showing on any other client or marketing material produced by your company and will show on the reports produced for your clients.  All users should ensure that their profile is correct.

Is VAT included?

Yes, all prices quoted include UK VAT.

Will we get an invoice?

Yes, we will email an invoice to the Account Owner each month when payment is received..

What should I enter as the client name?

We have deliberately kept MoneyScope as simple as possible and there is only one box to enter the client name which can be in any form you like; here are some examples:

- John Brown
- John  & June Brown
- The John Brown Trust
- John Brown's Offshore Bond

You have to enter an age for the client although you can choose whichever you feel is most appropriate if there is more than one client included in the plan.

How do I save the information I add?

The information is automatically saved as you enter it.

Is there a limit on how much information I can add?

No, you can enter as much or as little information as you like.  We prefer to keep things simple and are not big fans of huge income and expense questionnaires and would suggest that, where relevant, you include:

- Net income before and after retirement
- Ongoing and one off expenses before and after retirement.

For joint clients, you can enter the above for each as separate items.

There is no minimum value for any entry.

What should I enter for current savings & investments?

The total value of the client's liquid or realisable assets such as bank accounts, investments and other savings.  Do not enter property (apart from any equity released) or pension funds - pension income should be entered with the other income items.

How do "adjust for" and "increase with" inflation work ?

Can we forecast future pensions based on current values & ongoing conts?

How do I interpret the chart?

The chart shows the projected value in today's terms of the clients savings and investments having taken into account the items of income and expenditure.

How is the "real rate of return" calculated?

The net investment return less the rate of inflation.

What are the default assumptions?

There are three assumptions which can be changed for each plan:

1. The end age of the forecast is automatically set to the clients current age plus 20 years.  This can be increased to a maximum of age 99.
2. The net investment return is set to 5% per year by default but can be moved between 0% and 10% per year.
3. The inflation rate is set at 3% per year but this can also be moved between 0% and 10% per year.

How can I change the assumptions to see different results?

Simply move the sliders on the screen and watch the results change.

What does "in today's terms" mean?

This shows the real value of money.  A value of £1,000 shown in the future represents the purchasing power of that money; in other words, it will buy the same as £1,000 will buy today.  Where a value in the future of £1,000 is not shown in today's terms, it will not buy the same as £1,000 will today.

What format is the report produced in?

The report is in PDF format which can be opened on any computer.  You can download an example here.

How do I print the report?

The report will be opened in your PDF reader (normally Adobe Reader) and you can print the report as you would any other document.

Can I save the report for later?

Yes, simply save the report to your hard drive.

Who's details are shown on the report?

The report is "white labelled" and will show your name and your company name.  Your company's regulation statement will also be shown.  There is no mention of MoneyScope on the reports.