Financial Planning Software Market Report 2025

The financial planning software market size has grown rapidly in recent years. It will grow from $4.91 billion in 2024 to $5.74 billion in 2025 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to demographic shifts, globalization of markets, data security concerns, changing consumer behavior, integration with other systems, market volatility.

The financial planning software market size is expected to see rapid growth in the next few years. It will grow to $10.92 billion in 2029 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to economic recovery, financial literacy initiatives, focus on ESG investing, subscription-based models, enhanced cybersecurity measures, regulatory compliance solutions. Major trends in the forecast period include ai and machine learning integration, robo-advisors, blockchain integration, collaboration with fintech startups, cloud-based solutions, user-friendly interfaces.

The increase in mobile applications worldwide is anticipated to drive the growth of the financial planning software market in the future. Mobile applications are specifically designed software for mobile devices like smartphones and tablets. Numerous financial planning apps available today help users monitor their expenses and income, create budgets, and more, allowing professionals to effectively manage clients' assets and conduct informed research. Consequently, the rise in mobile applications globally is set to boost market growth. For example, in November 2023, the Ericsson Mobility Report released by Telefonaktiebolaget LM Ericsson, a Swedish networking and telecommunications products and services company, projected approximately 610 million new 5G subscriptions for 2023, marking a 63 percent increase from 2022 and raising the global total to 1.6 billion - around 100 million more than earlier forecasts. Therefore, the surge in mobile applications worldwide is driving the growth of the financial planning software market moving forward.

The rise of remote work is expected to enhance the growth of the financial planning software market in the future. Remote work refers to completing tasks outside the traditional office environment. The increase in remote work highlights the growing need for secure management of financial data, and financial planning software with robust security features is essential for maintaining data integrity and ensuring compliance to address security issues. For example, in September 2022, a report from the United States Census Bureau, a government agency, revealed that nearly half of the workforce in the District of Columbia - 48.3% - was involved in remote work, representing the highest percentage of home-based workers among states and state equivalents in 2021. Additionally, states with notable proportions of remote workers included Washington (24.2%), Maryland (24%), Colorado (23.7%), and Massachusetts (23.7%). Thus, the increasing prevalence of remote work is driving the growth of the financial planning software market.

Technological advancements serve as a prominent trend fueling growth within the financial planning software market. Leading companies in this sector are leveraging technologies such as Artificial Intelligence (AI) to fortify their market positions. For example, in May 2022, Conquest, a Canada-based fintech company, collaborated with Fidelity International, a US-based financial services corporation, to launch 'Conquest Planning,' a cutting-edge financial planning software. This innovative platform utilizes AI and data analytics to empower advisors with a deeper understanding of clients' evolving circumstances. By enabling real-time modeling of proposals and swift assessments of financial impacts on client goals, this technology efficiently processes data, allowing advisors more time for meaningful client interactions. This trend underscores the integration of AI-driven technology as a strategic advancement within the financial planning software market.

Key players within the financial planning software market are focusing on developing innovative products, such as budgeting applications, to cater to the demands of extensive customer bases. These budgeting applications, also referred to as budgeting apps, are software programs or mobile applications designed to aid individuals, businesses, or organizations in effectively managing their financial resources by creating, tracking, and analyzing budgets. Notably, in April 2023, Metapraxis Limited, a UK-based software company, introduced the Budgeting Calculator, specifically tailored to support enterprise Financial Planning and Analysis (FP&A) teams. This tool stands out for its ability to facilitate the advocacy for adopting budgeting process automation within corporations. By aiding the transition to a digitized and automated approach in crafting annual corporate budgets, this innovative tool enhances budgeting accuracy and optimizes team resources. Its unique feature lies in illuminating the financial implications of manual processes compared to the efficiency gained through dedicated budgeting software, particularly highlighting the complexities and time-consuming nature of this annual exercise.

In November 2022, Bill, a US-based company specializing in financial automation software services for small and midsize businesses, completed the acquisition of Finmark for an undisclosed sum. This strategic move enables Bill to offer SMBs enhanced real-time insights into their cash flow and facilitate planning by integrating its platform and data with Finmark's financial planning tools and connections. This acquisition positions Finmark, a US-based financial planning software company, to support a larger number of SMEs in their digital transformation journey by leveraging Bill's comprehensive financial management platform, partner ecosystem, and market presence. Finmark's expertise in simplifying financial planning and cash flow analysis for SMEs aligns well with Bill's commitment to providing fully-featured financial solutions to a broader spectrum of businesses.

Major companies operating in the financial planning software market include PIEtech Inc., eMoney Advisor LLC, Advicent Solutions, Moneytree Software, WealthTec LLC, Advisor Software, Envestnet Inc., InStream LLC, Advizr Inc., RightCapital Inc., Razor Logic Systems, Futurewise Technologies Private Limited., ESPlanner Inc., iSoftware Limited, Cheshire Software Inc., Miles Software, Orion Advisor Technology, Personal Capital Corporation, Quicken Inc., SAP SE, Oltis Software, WealthTrace, Moneywise Software, Sigma Conso, GetRealList, Wealth Access.

North America was the largest region in the financial planning software market in 2024. The regions covered in the financial planning software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the financial planning software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Financial planning software is a comprehensive system designed to empower businesses in overseeing their overall financial management, encompassing processes such as estimation and budgeting. This software plays a crucial role in supporting analytics, modeling, collaboration, and performance reporting, enhancing users' capabilities to efficiently manage financial performance.

The main components of financial planning software include solutions and services. Solutions refer to specialized financial software solutions offering services such as AIS architecture, the development of accounting applications, API programming, and integration. These solutions can be deployed on-premises or in the cloud, catering to various financial areas such as financial advice and management, portfolio management, accounting and trading management, wealth management, personal banking, and others. The end-users of financial planning software span small and medium-sized enterprises (SMEs), large enterprises, individual purposes, and others.

The financial planning software market research report is one of a series of new reports that provides financial planning software market statistics, including financial planning software industry global market size, regional shares, competitors with a financial planning software market share, detailed financial planning software market segments, market trends and opportunities, and any further data you may need to thrive in the financial planning software industry. This financial planning software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The financial planning software market includes of revenues by entities providing cash flow planning, retirement planning, and investment planning. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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