XLFinplan – Excel based Personal Financial Planning and Wealth Management Application

Published: August 8, 2013 at 7:00 am

XLFinplan is an extraordinarily comprehensive Excel based financial planning application developed by Satish Mistry of Money Care Financial Planning Services. This commercial software has many interesting applications that will be useful not only for financial planners but also for individual investors.

I requested Satish to send me a write up of the main features of XLFinplan. The following is the edited version. The downlink for the demo version and a complete listing of features as sent by Satish is given below.

I highlight only some of  most important features that will be particularly useful for individuals. Anyone who uses it, individual or planner, can create a comprehensive financial plan.  This post has quite a bit of information. I strongly recommend you bookmark it for future reference



Main Features of XLFinplan :

Future Goal Mapping & Funding:

  • You can fill your all future goal in questionnaire sheet, whether it is achievable or not. On this sheet  – you will be provided figures with % of Goal Amount with How much is achievable & How much is Shortfall. For Example, If there is shortfall in High priority goal, you can put some goal on hold to achieve high priority goal. You can select inbuilt option with Yes/No. Your entire cash flow will be adjusted accordingly your goal selection.
  • There is no mapping of each goal with specific Investments. It is works on FIFO (First in First Out) basis.
  • Based on this data you can find on this sheet, provision for Emergency fund, How much is shortfall in specific goal, aggregate shortfall & Year wise Shortfall.  You can also find required investment amount for shortfall in each goal amount.  Required investment amount also categorised with Short / Medium & Long Term.  There is also a financial goal gap analysis with graphics. It is each goal head wise & Year wise.
  • Year wise existing & future loan Cash Flow with Principal, Interest & EMI Amount – with Graph

Existing Goal Selection Sheet

  • All Future Financial Goal Cash Flow Statement i.e. Child Future Planning ( for 2 Child), Future Need Planning, Future Dream Planning, Retirement Planning with Existing / Future Cash Flow including Shortfall (if any).
  • All future goal amount in Goal cash flow statement categorised with Short Term / Medium Term & Long Term with relevant rate of return applied in questionnaire.
  • If person retires before goal arising, rate of return on investment will be post retirement rate of return, which we have applied in questionnaire.
  • There is separate analysis with each goal that, how much amount will be achievable with sale of assets, with loan amount & with investments.
  • Separate Retirement Plan with Independent Retirement Corpus to find out shortfall in future (if any).

Existing Financial Goal Gap Analysis

Practical Asset Allocation Module :

  • Normally, people get advice that how much is to allocate to debt, equity etc. but if you go through scheme to scheme, you will find much difficulties to take action. for this purpose, there is an inbuilt option of advice with each scheme in Investment Register.
  • On this sheet, you will find your existing allocation. After applying advice for each scheme, you will get surplus or shortfall figure in sheet. You can allocate this amount to rebalance your portfolio.
  • If you want to reduce your burden of EMI, from here you also allocate an amount for loan prepayment.
  • There is a separate sheet for Mutual Fund Portfolio Rebalancing.
  • If there is a requirement of advice to additional Investment, separate entry module for new addition of fixed return scheme, insurance scheme based on available of surplus future cash flow.

Asset Allocation & Portfolio Rebalancing_Page_1

Other features include:

  • Direct Stock Investment Statement  includes day to day valuation facility – with an option to advice for sale quantity. (if any)
  • Mutual Fund Portfolio Statement with day to day valuation facility. There is a separate reports for MF Portfolio Analysis & Rebalancing.
  • There is 3 type of Post Tax – Rate of Return Assumption, Aggressive, Moderate & Conservative.  (For Pre- Retirement & Post Retirement).  So, overall 4 stage rate of return apply.  i.e. for Short Term, Medium Term, Long Term & Post Retirement Rate of Return.  If retirement starts before medium term /long term, only post retirement rate of return will apply
  • There is a customised duration for Pre – Retirement period – i.e. Short Term Period, Medium Term Period & Long Term Period.  ( You can apply a different rate of return assumption for the same.)

MF Rebalancing Report

  • Assets separated for Personal Purpose & Investment Purpose, including current valuation, future appreciation / depreciation calculation & with any outstanding loan for the same.
  • Separate entry module for all type of prevailing fixed return schemes, Traditional & Unit Linked – Life Insurance & Pension Plans, Mutual Fund Schemes & Stocks. Step up SIP / SWP – Option available with %wise OR Amount wise.
  • There is separate cash flow annexure for each & every head of Income, Expenses, Assets, Liabilities, Investment Receipts and Payments, Maturity Proceeds. Future Financial Goal, Future Retirement Corpus. All data automatically generated based on given future inflation rate, future rate of return on Investment with given specific timeframe. – Full Cash Flow Analysis with Graphics.

Investment Portfolio Analysis_Page_1

  • Separate module for Salaried Person. You will have to provide data for Gross Salary & other relevant details with increasing rate in future. You can get EPF /EPS /Gratuity Cash Flow with Effective salary after automatic calculation of Income Tax.  Option for calculation for Husband & Wife separately.
  • Income Tax Calculation Sheet, separately of Husband & Wife. Which counts all your taxable income with rebate/ deductions (if any) including clubbing of income with effective Income Tax rate. You do not have to apply your Income Tax Rate Slab.
  • Existing Investment Registers / Statement. Which includes
    • Fixed Return Scheme Portfolio with all relevant details including Future Inflow / Outflow, IRR / Yield on Investment
    • Traditional Life Insurance / Pension Plan Statement with summarised amount of future premium / future Inflow through survival benefit & maturity proceeds including IRR of each policy.
    • Unit Linked Life Insurance / Pension Plan Statement with summarised amount of future premium / future Inflow through survival benefit & maturity proceeds including IRR of each policy.
    • All above Investment Statements has inbuilt option for planner to recommend each Investment / Scheme /Plan, whether it should be remain continue?, to be stopped? OR Liquidate.

Comprehensive Report includes:

  • Investment Analysis Report with -Various type of Mutual Fund Analysis / Rebalancing Report
  • Statement of Proposed Future Cash Flow of All Income, Expenses, Investment, Insurance etc. after recommendation on Expenses, Investments, Goal.
  • Risk Analysis Report, from which you will find your aggregate risk analysis report

Life Insurance Need Analysis

 Just keep in mind following points in general to prepare better financial plan, while you use this application.

  1. Put reasonable estimate of future Income / Expenses. If cash flow of your future expenses with inflation does not generate surplus or there is no surplus for EMI / Investment Commitment, Try to improve it first.
  2. Bifurcate your future goal with Need & Dream. Give first priority to your future need. You can also define    all your goal with priority like High, Medium, Low & Optional.
  3. Check your aggregate cash flow with the future goal, Looking to your cash flow, if you find that there is much more shortfall in achievement in Future Need.  Remove lower/optional priority goal in goal selection sheet. You may find some better cash flow. Then you try to find junk investments in your portfolio. Take action with each scheme, which is harming to your future goal. You may get some additional surplus for rebalancing your portfolio.
  4. You may use this amount in prepayment of junk loan first (specifically for credit card / personal loan etc.). If your cash flow support, you may also wish to prepay other loan also. Decision for the same will depend on future cash flow & taxation benefit also. If you can find your future cash flow generate healthy surplus, you may restructure your Loan EMI also & reduce your EMI burden.
  5. Then you can rebalance your MF Portfolio. You may also decrease your MF allocation & put in fixed return scheme. This all subject to financial advisor /planner.  This is just a raw hint.
  6. Decide proper life insurance amount on the basis of Life Insurance Need analysis with Existing portfolio of life insurance. Take Term Plan for shortfall in life insurance cover.  Take required other insurance cover i.e. health, vehicle, personal accident, home insurance etc.
  7. Invest through SIP/VIP in MF for Long Term.

Not necessary that, you take all steps in the same order.

Extra Calculators :

  • Time Value of Money Calculator
  • Life Insurance Policy Return Analysis
  • Loan Amortisation Calculator with additional repayment option.
  • For a demo (requires MS Excel 2010), visit xlfinplan

Try to prepare your own financial plan first. If you have some query, please let me know or leave a comment here.  The demo application will run up to 1 Month. In spite of that, if you require some extension in this period, please let me know.

You can connect with me here :  satish@xlfinplan.com

Facebook  – http://facebook.com/satishmistry27  Linkedin   – http://in.linkedin.com/pub/satish-mistry/13/536/929


There are many more features. Listing them all here will make this post too long!  (word file with complete list of features)

Xlfinplan has practically all the features associated with a comprehensive financial plan. While planners/advisors maybe able to quickly start using it, individuals may need a little more time to get used to the format. If an individual is interested in created a financial plan on their own then this is one option that they could consider.  Please contact Satish for other details including pricing.

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