American software provider Voyant claims its new tool will help advisers' clients think about tricky financial decisions and get them involved in the fact-find process.

The online tool combines cash flow planning and goal planning to help advisers and clients make financial plans. Voyant Adviser, has been redesigned for UK tax rules and products, and allows financial planners and clients to plot life events like retirement on a timeline and budget for them.

‘Over the past 20 years, financial planning has tended to become a discussion about projected investment growth,’ said Voyant chief executive David Kaufman. ‘Current market turmoil has provided a violent reminder that growth cannot be taken for granted and a broader approach to finance is necessary.’

Voyant Adviser claims to be an evolution of current software financial planning like ‘deterministic’ cash flow modelers and limited stochastic wealth management tools. Wrap provider Novia was the first UK client for Voyant Adviser.

The Voyant software is used by US bank Wells Fargo for retirement planning and consumer banking and the software provider also allows consumers to use the US-version of the tool for free.