From the Editor

Hopwell, Flynn
July 1994
Journal of Financial Planning;Jul94, Vol. 7 Issue 3, p100
Academic Journal
This article discusses the evolution of technology used in financial planning during the 1980s. The profession used WordPerfect word processing and Multiplan spreadsheet software. Over these years the technological development in systems and hardware have been little short of astounding. The spreadsheet and word processor will do everything but dance and sing a song, and most have far more capability than most planners use. Yet the same cannot be said for financial planning software. Yes, there has been significant improvement in database management tools that keep track of client administrative data, billing, financial profiles and other such information. These tools solve a financial puzzle of some sort, a puzzle that is too complex to be doped out on the back of an envelope, a puzzle that involves the interaction of a number of variables. The puzzles that come to mind are various retirement- and insurance-needs analyses. These tools are often developed to be used for sales pizzazz rather than giving correct answers. These tools are common in mutual fund, brokerage and insurance environments. Even if the tools were not simple, but comprehensive, financial planning seems to have missed the revolution in analysis caused by the easy availability of simulation techniques made possible by the PC.


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