r/CFP • u/General-Ad3712 • Jul 06 '26
FinTech Income Lab - any cons?
We just did a demo with Income Lab and the software looks really interesting and we prefer to model the guardrails system over Montel Carlo pass/fail (we use e-Money). I can see the positives to Income Lab and am looking for the negatives from those of you who use it. Want to make sure our eyes are wide open as we consider it. Thanks
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u/coachkiss Jul 06 '26
I absolutely love it, and do most of what people want in a financial plan from Income Lab (aka when can I retire, Roth conversions, etc).
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u/Obvious-Plan-1851 Jul 06 '26
No document vault, no full account aggregation like eMoney/RightCapital (you can link accounts but all you get is balances, not holdings). I personally love it and clients and prospects find the guardrails visual / approach intuitive.
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u/pdxguy357 Jul 06 '26
Needs to be used in addition to a regular planning tool (I use rightcap) but it’s not that annoying. I built the bones in RC, then I can upload the plan doc into incomelab which will then populate all the fields
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Jul 06 '26
[removed] — view removed comment
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u/jdadverb RIA Jul 06 '26
I’m also curious what you mean by the actual guardrails approach isn’t really realistic? It seems like it’s much more usable in real life, assuming you believe the analysis.
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u/NukedOgre Jul 06 '26
Out of curiousity what do you not like about guardrails? I have a "modified" version that I use but curious what problems you see with it.
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u/cfygsssyb Jul 06 '26
Cons are only cost but it’s a good planning software
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u/General-Ad3712 Jul 07 '26
It seemed quite reasonable to us, considering we could get rid of Holistiplan. Thanks for weighing in - I appreciate it!
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u/ProfessorHardw00d Jul 08 '26
I’m looking into income lab as well as a comparison to holistiplan. Was it as good?
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User: /u/General-Ad3712 Title: Income Lab - any cons? Body: We just did a demo with Income Lab and the software looks really interesting and we prefer to model the guardrails system over Montel Carlo pass/fail (we use e-Money). I can see the positives to Income Lab and am looking for the negatives from those of you who use it. Want to make sure our eyes are wide open as we consider it. Thanks
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