Cashflow modelling software for UK advisers: 2026 prices and what the FCA expects
Voyant, CashCalc, Timeline, Truth, Dynamic Planner and the tools built into your back office, with published prices, the FCA's expectations turned into vendor questions, and how to choose.
On this page
A quick note on who's writing. We book pension appointments for independent advisers. We don't give advice, so we don't use cashflow software ourselves, and the FCA's own survey work shows most advice firms now use a cashflow model on retirement income cases. So this is a desk comparison: vendor pricing pages, FCA publications and trade press, all checked on 27 September 2026, with the sources at the bottom. Where a vendor doesn't publish a price, we say so rather than guess.
What is cashflow modelling in financial advice?
Cashflow modelling (also called cashflow planning or lifetime cashflow forecasting) takes what a client has, earns, spends and wants, and projects it year by year to the end of their life. The output is usually a chart showing whether their money lasts, and what changes if they retire earlier, spend more, gift to family or markets fall.
In a retirement income case it answers the question clients bring to a first meeting: "Can I afford to stop working, and how much can I take?" It's also the evidence behind a drawdown recommendation, because it shows the withdrawal rate you've recommended is sustainable for that client.
There are two broad methods. Deterministic models run one set of assumptions and draw one line. Stochastic models run thousands of simulated market paths and show a range with probabilities. The FCA's 2024 survey found firms split almost evenly between them: 401 of 956 firms used deterministic modelling, 409 stochastic and 146 neither.
Does the FCA require cashflow modelling for retirement income advice?
No, and the FCA has said so twice. Its retirement income advice thematic review (TR24/1), published in March 2024, states: "There are no specific requirements for firms to use CFM." Its June 2025 follow-up, which looked at 28 firms, repeated: "We do not mandate how this is done."
What it does require is a reasonable, client-specific basis for any income you recommend drawing. A standard withdrawal rate can be used, but it needs a reasonable basis for each client. The FCA didn't endorse a universal 4% rule. In practice most firms have concluded that a cashflow model is the easiest way to evidence that:
- 810 of 962 firms in the TR24/1 survey used some form of cashflow modelling.
- 276 of 962 used a standard withdrawal guide rate, 199 of them at 4%.
- In the FCA's detailed file review, 21 of 24 firms used a cashflow tool.
- In the FCA's 2025 advice firms survey (published April 2026), 75% of firms had made, were making or were considering changes to how they calculate income sustainability after TR24/1.
Alongside TR24/1 the FCA published a separate page, Undertaking cashflow modelling to demonstrate suitability of retirement-related advice (20 March 2024). It's the closest thing to a specification for your software, and it's worth reading in full before any demo.
What does the FCA expect your cashflow tool to do?
The table turns the FCA's guidance into questions you can put to a vendor. None of these is a rule about software; they're expectations about your advice, and the tool either makes them easy or makes you work around it.
| FCA expectation | What to ask the vendor |
|---|---|
| Reasonable, current inputs | Does it pull client data from our back office, or do we re-key it? Can clients add spending through a fact-find portal? |
| Justifiable returns | Can we set return assumptions per asset class or model portfolio, and record why? Are defaults based on more than past returns? |
| Real terms | Does it show income and spending in today's money, and let us run an alternative inflation rate side by side? |
| All foreseeable charges | Can we include adviser, platform and fund charges so they reduce the projected pot? |
| Longevity | Can we model beyond average life expectancy? (The FCA notes a 65-year-old man has a 1 in 4 chance of reaching 92.) |
| Stress testing | Can we show a large market fall at the start of drawdown (sequencing risk), lower real returns and higher withdrawals? |
| Capacity for loss | Can stressed outcomes be tied back to the client's risk profile and capacity for loss in the report? |
| Client understanding | Is the output simple enough for a client, and does it explain why it differs from provider illustrations? |
| Documented assumptions | Is there an audit trail of which assumptions were used for each plan, and when the firm last changed them? |
The June 2025 follow-up gives the poor practice to design against: a firm that couldn't document the rationale for its tool's assumptions, a projection showing a client's money running out at 76 with no stress test, and modelling only to average life expectancy. The FCA's warning that clients may "perceive a detailed projection of their financial affairs as a certainty" is the other one to keep in mind when you choose how the output looks.
Quick picks
- Already on intelliflo office: start with its built-in cashflow modelling, which intelliflo says comes at no extra cost, and only buy a standalone tool if it falls short.
- Lowest published per-adviser price: FE CashCalc at £80 a month + VAT, with a paraplanner licence included.
- Unlimited clients and the cheapest trial: Timeline at £142 a month + VAT, with a £1 first month.
- Detailed modelling, trusts and complex estates: Voyant AdviserGo at £175 a month per adviser.
- Want risk profiling and cashflow on one bill: Dynamic Planner's Review Plus at £179 a month per adviser + VAT.
- Established standalone with a long following: Prestwood Truth (price on request).
- Large firm already on Xplan: the Iress Xplan advice tools (price on request).
Cashflow modelling software prices compared (2026)
Published list prices, per month, from each vendor's own site on 27 September 2026. "On request" means the vendor doesn't publish a current price. VAT is shown where the vendor states it. Group or network deals can be lower.
| Tool | Owner | Published price | Modelling | Licence notes |
|---|---|---|---|---|
| Voyant AdviserGo | Voyant (AssetMark) | £175/month per adviser | Scenario analysis; trusts, entities and multiple jurisdictions | Auxiliary users £100/month; white label £750 + £60/month |
| FE CashCalc | FE fundinfo | £80/month + VAT per adviser | Deterministic, stochastic and gross cashflow; 35+ calculators | Paraplanner licence free with each adviser licence; group pricing on request |
| Timeline Planning | Timelineapp Tech Ltd | £142/month + VAT | Historical market data (100+ years) and stress tests | Unlimited clients; £1 for the first 30 days; user terms on request; integrates with intelliflo and Iress |
| Dynamic Planner (Review Plus) | Dynamic Planner | £179/month + VAT per adviser | Stochastic, uses its own risk model | Includes fact find, profiling, review; £130 per adviser setup |
| intelliflo office cashflow | intelliflo (Carlyle) | Included in intelliflo office | Scenario comparison and stress tests | intelliflo office itself is priced on request |
| Prestwood Truth | Prestwood Software | On request | Lifetime cashflow, net worth, protection analysis | Cashflow fact-find portal for clients |
| Iress Xplan advice tools | Iress | On request | Cashflow and advice modelling inside Xplan | Usually part of a wider Xplan contract |
| EV (EVPro Goal) | EV | On request | Goal-based cashflow planning | Integrates with Plannr, among others |
Voyant's page doesn't say whether its prices include VAT. Timeline's older 2025 brochure listed £135 + VAT and FE CashCalc's older brochure £60, so the live pages are the figures used here. FE CashCalc's page read £80 a month + VAT on 27 September 2026; some third-party articles still quote £75. Always confirm with the vendor before you sign.
The main UK cashflow tools, one by one
Voyant
Voyant has been one of the two best-known names in UK adviser cashflow for years. In a 2019 NextWealth and PFS survey of 385 respondents it was the main tool for 28%, just behind CashCalc. It's owned by AssetMark, which bought it in 2021. Its strengths are depth (trusts, business entities, multiple jurisdictions) and client collaboration: ClientGo licences let clients see and work on their own plan. The published pricing is refreshingly clear, with separate lines for advisers, paraplanners and client access. It's the most expensive per adviser of the published prices here, and the depth takes time to learn.
FE CashCalc
CashCalc was bought by FE fundinfo in May 2021 and has a strong claim to being the most widely used. The lang cat's 2022 research had it as the most-used cashflow system at 37%, and the 2019 NextWealth and PFS survey at 30%. Treat those as dated, because no one has published a 2026 market share we could check. FE's page says it covers deterministic, stochastic and gross cashflow, has more than 35 calculators, and has added mortgage and protection planning at no extra cost. The free paraplanner licence is a practical plus for firms where the paraplanner builds the plan.
Timeline
Timeline pitches itself on stress testing plans against more than 100 years of historical market data rather than projected averages. It connects directly with intelliflo and Iress. Its published price is £142 a month plus VAT with unlimited clients. The page doesn't say how many adviser users that covers, so ask before you compare it per head with the per-adviser tools. The £1 first month makes it the easiest tool on the list to test properly with live cases.
Prestwood Truth
Truth has been around longer than most, and New Model Adviser once called it "the mother of all cashflow modelling tools", a line Prestwood still quotes. Beyond lifetime cashflow it covers net worth and protection analysis, and it has a cashflow fact-find portal so clients can enter their own figures. Prestwood also runs Truth About Money, a free consumer site advisers can brand. There's no current price online, so you'll need a call.
Dynamic Planner
Dynamic Planner is best known for risk profiling (the vendor says 2,600+ UK firms use it) and added cashflow planning as a module. The cashflow tool sits inside the Review Plus plan, alongside fact find, client profiling and reviews, so it pulls data from elsewhere in the platform and uses the same risk model for its stochastic projections. If you already pay for Dynamic Planner's Review plan (£124), the step up to Review Plus is £55 a month per adviser. Setup fees apply for small and medium firms.
intelliflo office
intelliflo says its cashflow modelling is "built into intelliflo office at no extra cost", with access to client records and sharing through the client portal. For the large share of firms already on intelliflo office (NextWealth put its back-office share at 52% in 2023), that's the obvious first thing to try. Whether it's enough depends on how complex your clients' affairs are. Some firms use it for simpler cases and keep a specialist tool for the rest.
Iress Xplan
Xplan's advice tools include cashflow modelling and are typically bought as part of a wider Xplan contract. Iress says Xplan is used by five of the UK's eight largest wealth managers by assets under management. For a small IFA it's rarely a standalone cashflow purchase; if you're on Xplan, check what your licence already covers.
EV, Plannr and the rest
EV's EVPro includes a goal-based cashflow component (EVPro Goal), priced on request. Plannr, the CRM, doesn't sell its own cashflow modeller; it connects to tools including EVPro and Defaqto Engage. Consumer tools such as Truth About Money and Guiide are free to the public but aren't adviser modelling tools. And some firms still use spreadsheets. Nothing stops you, but in our view a spreadsheet makes the FCA's expectation to document and review assumptions harder to meet, because there's no central record of which assumptions each plan used.
How to choose cashflow planning software
Most tools on this list can produce a decent plan. The differences that matter show up after month three, once the novelty's gone and your team is using it on every retirement case.
- Integration with your back office. If client data has to be re-keyed from your CRM into the cashflow tool, it will be out of date by the review meeting. Check the specific integration with your back office and what it syncs (see our IFA CRM and back office comparison).
- Assumptions governance. Can the firm set house assumptions centrally, lock them, and see which set each plan used? This is the FCA's clearest poor-practice finding.
- Stress testing that's quick to run. If a sequencing-risk scenario takes ten minutes to build, it won't get built on every case. Look for one-click stress tests.
- Who builds the plan. If your paraplanner does it, per-seat pricing matters. CashCalc includes a paraplanner licence; Voyant charges £100 for auxiliary users.
- Client-facing output. Sit a non-adviser in front of a sample report. If they can't tell you whether the money lasts, neither will your client.
- Contract terms. The published prices above are monthly, but ask about minimum terms, annual price rises, setup and training fees (Dynamic Planner lists £130 per adviser) and what happens to client plans if you leave.
- Trial on live cases. Run two or three recent retirement cases through each shortlisted tool. Timeline's £1 month makes that cheap; ask the others for a trial period.
What does cashflow software cost per adviser per year?
Annualised from the published monthly prices, before VAT where the vendor adds it:
| Tool | Per adviser per year | Notes |
|---|---|---|
| FE CashCalc | £960 + VAT | Paraplanner seat included |
| Timeline | £1,704 + VAT | Published monthly price × 12; confirm user terms |
| Voyant AdviserGo | £2,100 | Plus £1,200 a year per auxiliary user |
| Dynamic Planner Review Plus | £2,148 + VAT | Plus £130 setup; includes profiling and review tools |
Set against fee income, none of these is a big number. At the 2026 average ongoing fee of 0.83%, one client with £250,000 under advice brings in about £2,075 a year, roughly the annual licence for the dearer tools here (Dynamic Planner's Review Plus is £2,148 + VAT before setup). The cost that matters more is time. NextWealth's benchmarks put onboarding a new client at around 32 hours of staff time. Put your own staff cost per hour against the time a tool saves per retirement plan, times the plans you write a year, and you have the number to compare with the licence. There's more on fee levels in average financial adviser fees in the UK, and on how many of those clients one adviser can look after in how many clients a financial adviser needs.
Where cashflow modelling fits when you're winning new clients
For a lot of firms the cashflow plan is the proposition. It's what turns "I'd like someone to look at my pensions" into a paid engagement, because the client sees their own future in a chart for the first time.
That's also why the information you have before a first meeting matters. The pre-meeting brief for each InvestmentsBooked appointment is completed by the prospect when they book: their pension value band (self-declared, reconfirmed on the call), pension types, number of pots, age, retirement stage, what help they want (retirement income plan, drawdown vs annuity, IHT and so on), other investable assets and property. We don't collect attitude to risk or give any view on what they should do; that's your advice process. But it's enough to know whether this is a cashflow-led conversation before you dial in, and to have a rough outline ready to talk through if that's how your firm runs a first meeting.
If retirement income is where your firm wants more clients, retirement planning appointments are the ones built around it, and how it works sets out what the brief contains. Appointments are £500 per qualified show (no VAT added), with pensions of £250k or more, and no-shows are credited back. See pricing for the full show test, and the other appointment types we book.
How we compared these (and our interest)
We haven't used any of these tools on a pension case, and we're not the people to tell you which models markets best. What we've done is collect the published price and licence terms from each vendor's own site on 27 September 2026, set them against what the FCA has published, and add the dated usage surveys that exist. The quick picks are based on price structure and what each vendor says its tool does. We haven't tested them hands-on. InvestmentsBooked has no commercial relationship with any of these vendors and earns nothing if you buy one. We sell pre-booked pension appointments to advice firms, which is why we care whether your retirement proposition converts.
Figures checked 27 September 2026. Regulation: FCA TR24/1 Retirement income advice, March 2024 (fca.org.uk, paras 2.7, 2.13, 2.15–2.16); FCA, Undertaking cashflow modelling to demonstrate suitability of retirement-related advice, 20 March 2024 (fca.org.uk); FCA retirement income advice good practice and areas for improvement, 11 June 2025 (fca.org.uk); FCA financial advice firms survey 2025, 23 April 2026 (fca.org.uk). Prices: Voyant UK pricing (planwithvoyant.com); FE CashCalc (fefundinfo.com); Timeline Planning (timeline.co); Dynamic Planner pricing (dynamicplanner.com); intelliflo cashflow modelling (intelliflo.com); Prestwood Truth (truthsoftware.co.uk); Iress Xplan (iress.com); EVPro (ev.uk); Plannr integrations (plannrcrm.com). Ownership and usage: FE fundinfo acquisition of CashCalc, May 2021 (fefundinfo.com); AssetMark acquisition of Voyant, March 2021 (assetmark.com); NextWealth and PFS benchmarking report, 2019 (nextwealth.co.uk); the lang cat, A Fragmented World, September 2022 (thelangcat.co.uk); NextWealth adviser tech satisfaction, 2023 (nextwealth.co.uk). Usage surveys are dated and use different samples; they aren't current market shares. InvestmentsBooked is not authorised by the FCA and does not give financial advice.