?s for those using/considering PlanVision

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buckeye7983
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?s for those using/considering PlanVision

Post by buckeye7983 »

For those using or considering using PlanVision's services:

1) Is an Interactive Brokers account necessary? Is there something special/unique about IB?

2) Can other brokerage and online bank accounts be linked to this service without using IB?

3) Should one worry about brokerage/on-line bank account security if linking to PlanVision?

Thanks!
Silk McCue
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Re: ?s for those using/considering PlanVision

Post by Silk McCue »

Why do you think that an IB account might be necessary? It is only mentioned in the FAQs for EXPAT clients.

Planvision uses Emoney Advisor planning tool to which you will link your accounts and enter your data so that Planvision can provide their service to you. The product is very secure and is widely used by financial advisors. I have been with Planvision for over a year and a half and am very satisfied with the cost benefit. I have it in place in case something happens to me so that my wife can receive sane and sensible advice from a professional I trust (Mark Zoril).

Cheers
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buckeye7983
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Re: ?s for those using/considering PlanVision

Post by buckeye7983 »

Silk-

Thanks for your info!

I guess if you link to your accounts, in that way this is similar to aggregators like Mint and Personal Capital? I have seen Boglehead discussions where some had significant concerns about security when using aggregators and whether it might violate terms at Vanguard or other brokerages. Just unsure how big of a risk this could be.

Thanks again!
SnowBog
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Re: ?s for those using/considering PlanVision

Post by SnowBog »

buckeye7983 wrote: Mon Jun 21, 2021 6:46 am 1) Is an Interactive Brokers account necessary? Is there something special/unique about IB?
Not required. Most of my accounts are at Fidelity - but really doesn't matter...
buckeye7983 wrote: Mon Jun 21, 2021 6:46 am 2) Can other brokerage and online bank accounts be linked to this service without using IB?
For clarity - nothing is linked to PlanVision. They don't have a "service" of their own... Instead, they use eMoney. eMoney is very well established, in fact its the underlying engine behind Fidelity's "Full View" and/or "Retirement Planner". But eMoney isn't sold to individuals - so you need to work with someone like a brokerage (aka Fidelity) or financial advisor (like PlanVision) to gain access.

Note, while Fidelity uses eMoney, you have limited access to the normal eMoney reports/etc. Instead, Fidelity has their own views - like Retirement Planner - that sits on top. I like having access to the "pure" eMoney service (via PlanVision) - as it has different reports/dashboards/etc. that Fidelity doesn't give access to...
buckeye7983 wrote: Mon Jun 21, 2021 6:46 am 3) Should one worry about brokerage/on-line bank account security if linking to PlanVision?
In short - I have no concerns here... Again, PlanVision - on its own - has no access... You are actually linking to eMoney - and PlanVision has access to view the data linked - but otherwise doesn't have any direct information (in other words - they will never have your username and password).

Initially I had some concern with this... But once I realized that it was the same eMoney engine used by Fidelity - those concerns disappeared...

While there may be some generic risk about using aggregators (like eMoney, Mint, etc.) - I've decided that the risk of "not linking" my accounts is probably higher... More specifically, having linked accounts - I can quickly login to a single service - and get a quick view of what's changed. If someone were to have improperly accessed one of my "linked" accounts - I'd see the resultant changes ASAP (I probably check my accounts too often... :wink: but I'd see the changes within a few days). By contrast, if I didn't use an aggregator - I'd probably go months/years (in some cases) without logging into particular sites, meaning I'd probably miss the window of opportunity to work with company to investigate/reverse unauthorized activity.
SnowBog
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Re: ?s for those using/considering PlanVision

Post by SnowBog »

See my prior post for my general view...

But I'd add - I think the "bigger" risk is if you aren't already using unique "strong" passwords per site and multifactor authentication wherever possible... If you aren't - then in my humble opinion - its like you are not locking any of your doors on your house - but you are worried that if you don't put a lock on your window - then your house is vulnerable...

Normal/standard best practices are still the best first defense! I'm far more worried about attackers compromising weak passwords (or a shared password across multiple sites), than I am about them compromising someone like eMoney, Mint, etc. (Not saying the later is impossible... Just highly unlikely...)
buckeye7983 wrote: Mon Jun 21, 2021 3:16 pm Silk-

Thanks for your info!

I guess if you link to your accounts, in that way this is similar to aggregators like Mint and Personal Capital? I have seen Boglehead discussions where some had significant concerns about security when using aggregators and whether it might violate terms at Vanguard or other brokerages. Just unsure how big of a risk this could be.

Thanks again!
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beyou
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Re: ?s for those using/considering PlanVision

Post by beyou »

From their FAQ

“ You also can add your accounts manually to eMoney instead of syncing them.”

I like the idea of my spouse or others that depend on me, to have a plan for the future, such as this service, but I really do not like account aggregation. If you are indexing and rebalancing infrequently, no need to add risk of access to your accounts.
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buckeye7983
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Re: ?s for those using/considering PlanVision

Post by buckeye7983 »

SnowBog- Totally agree on best practices re security! Thanks for your thoughts!

beyou- I share your concern, but it seems that if data is entered manually one of the benefits of this service is lost (daily updating of all accounts and corresponding reports). Not sure if risk is great enough to lose this feature. Thanks for your input!
esteen
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Re: ?s for those using/considering PlanVision

Post by esteen »

buckeye7983 wrote: Mon Jun 21, 2021 6:46 am For those using or considering using PlanVision's services:

1) Is an Interactive Brokers account necessary? Is there something special/unique about IB?

2) Can other brokerage and online bank accounts be linked to this service without using IB?

3) Should one worry about brokerage/on-line bank account security if linking to PlanVision?

Thanks!
1) Nope!
2) Yes!
3) Nope!
This post is for entertainment or information only, and should not be construed as professional financial advice. | | "Invest your money passively and your time actively" -Michael LeBoeuf
Topic Author
buckeye7983
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Re: ?s for those using/considering PlanVision

Post by buckeye7983 »

esteen-

Thanks for your concise and clear thoughts! Sounds like you must use PlanVision and like them!
SnowBog
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Re: ?s for those using/considering PlanVision

Post by SnowBog »

buckeye7983 wrote: Mon Jun 21, 2021 5:26 pm SnowBog- Totally agree on best practices re security! Thanks for your thoughts!

beyou- I share your concern, but it seems that if data is entered manually one of the benefits of this service is lost (daily updating of all accounts and corresponding reports). Not sure if risk is great enough to lose this feature. Thanks for your input!
I still think the perceived "risk" is overstated (I have no concerns with linking accounts)... But "manual" may not be as bad as you think... I've had accounts I couldn't get linked - so I had to add them manually (this isn't unique to eMoney - I've had this at other places as well).

Assuming you own "shares" of a identifiable ticker - "manual" just means listing the # of shares (and the ticker). It will pull in the price data - so you see your "up-to-date" balances - even if you are doing it manually... Obviously, as your # of shares change - you'll need to keep them up-to-date...
But updating on an irregular basis may be "good enough".
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buckeye7983
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Re: ?s for those using/considering PlanVision

Post by buckeye7983 »

Thanks, SnowBog!
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arcticpineapplecorp.
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Re: ?s for those using/considering PlanVision

Post by arcticpineapplecorp. »

don't forget Mark's doing a presentation tomorrow at 8 pm. e.t. at the tampa bay + South FL bogleheads chapter:

https://www.bogleheads.org/blog/calendar-of-events/
It's hard to accept the truth when the lies were exactly what you wanted to hear. Investing is simple, but not easy. Buy, hold & rebalance low cost index funds & manage taxable events. Asking Portfolio Questions | Wiki
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beyou
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Re: ?s for those using/considering PlanVision

Post by beyou »

buckeye7983 wrote: Mon Jun 21, 2021 5:26 pm SnowBog- Totally agree on best practices re security! Thanks for your thoughts!

beyou- I share your concern, but it seems that if data is entered manually one of the benefits of this service is lost (daily updating of all accounts and corresponding reports). Not sure if risk is great enough to lose this feature. Thanks for your input!
If you are not trading daily then what is there to update daily ? I now update “outside accounts” on vanguard to use Portfolio Watch, and doing so monthly is more than enough, probably less often would be fine. If one is trading frequently, that seems inconsistent with the desire to simplify and transition portfolio management to loved ones that led to the use of this product.
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Miriam2
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Re: ?s for those using/considering PlanVision

Post by Miriam2 »

arcticpineapplecorp. wrote: don't forget Mark's doing a presentation tomorrow at 8 pm. e.t. at the tampa bay + South FL bogleheads chapter:
https://www.bogleheads.org/blog/calendar-of-events/
Thank you, Arctic, for posting the info :happy

The Tampa Bay and South Florida Bogleheads are hosting Mark Zoril and Jason Lynch from PlanVision on Tues June 22, 2021, at 8:00 pm ET. Please click here for the Zoom link posted on the BH Blog Calendar of Events.

This is a follow-up meeting requested by the BH poll following Mark and Jason's first presentation on general investing topics on April 27, 2021. Please click here for the recording of that first meeting.
Sahara
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Re: ?s for those using/considering PlanVision

Post by Sahara »

SnowBog wrote: Mon Jun 21, 2021 3:35 pm
buckeye7983 wrote: Mon Jun 21, 2021 6:46 am 1) Is an Interactive Brokers account necessary? Is there something special/unique about IB?
Not required. Most of my accounts are at Fidelity - but really doesn't matter...
buckeye7983 wrote: Mon Jun 21, 2021 6:46 am 2) Can other brokerage and online bank accounts be linked to this service without using IB?
For clarity - nothing is linked to PlanVision. They don't have a "service" of their own... Instead, they use eMoney. eMoney is very well established, in fact its the underlying engine behind Fidelity's "Full View" and/or "Retirement Planner". But eMoney isn't sold to individuals - so you need to work with someone like a brokerage (aka Fidelity) or financial advisor (like PlanVision) to gain access.

Note, while Fidelity uses eMoney, you have limited access to the normal eMoney reports/etc. Instead, Fidelity has their own views - like Retirement Planner - that sits on top. I like having access to the "pure" eMoney service (via PlanVision) - as it has different reports/dashboards/etc. that Fidelity doesn't give access to...
buckeye7983 wrote: Mon Jun 21, 2021 6:46 am 3) Should one worry about brokerage/on-line bank account security if linking to PlanVision?
In short - I have no concerns here... Again, PlanVision - on its own - has no access... You are actually linking to eMoney - and PlanVision has access to view the data linked - but otherwise doesn't have any direct information (in other words - they will never have your username and password).

Initially I had some concern with this... But once I realized that it was the same eMoney engine used by Fidelity - those concerns disappeared...

While there may be some generic risk about using aggregators (like eMoney, Mint, etc.) - I've decided that the risk of "not linking" my accounts is probably higher... More specifically, having linked accounts - I can quickly login to a single service - and get a quick view of what's changed. If someone were to have improperly accessed one of my "linked" accounts - I'd see the resultant changes ASAP (I probably check my accounts too often... :wink: but I'd see the changes within a few days). By contrast, if I didn't use an aggregator - I'd probably go months/years (in some cases) without logging into particular sites, meaning I'd probably miss the window of opportunity to work with company to investigate/reverse unauthorized activity.
I agree that one benefit of having access to eMoney via PlanVision is that the user has access to a higher level of eMoney than they would have at Fidelity. A greater advantage to working with PlanVision is that Mark and Jason have a yet higher level of controls and are able to partner with the client to refine the plan. Once the client onboards, they'll meet with Christian to verify their setup. Moving forward clients will meet with Mark and/or Jason to discuss their plans and goals. Mark and Jason can support the client in making changes and also implement and model out any action items agreed upon at that higher level. For example, they might model a workaround for something the software doesn't handle or incorporate well.
Exchme
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Re: ?s for those using/considering PlanVision

Post by Exchme »

I've looked at their site and their fees make even a cheapskate like me smile.

The only thing I miss about my former AUM advisor is e-money, the aggregation feature was a time saver and I could get very detailed allocation reports, a large number of future projections and reports. It had reports on things like education planning, major expense planning, and estate taxes that consumer level tools don't have. While I didn't use it, IIRC there was a budgeting & expense module, you could set up alerts like low cash balance, the program had a "vault" where you could put data that your heirs would need in their version too. The modules and access available may vary from advisor to advisor, maybe someone familiar with what they see in PlanVision's e-money instance can more fully describe it.

I take it that PlanVision makes recommendations consistent with the Boglehead philosophy? Might be worth their fee just to get e-money, have a second set of eyes look at my portfolio and be in place come the day I can no longer do it myself.
Sahara
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Re: ?s for those using/considering PlanVision

Post by Sahara »

Exchme wrote: Tue Jun 22, 2021 8:19 am I've looked at their site and their fees make even a cheapskate like me smile.

The only thing I miss about my former AUM advisor is e-money, the aggregation feature was a time saver and I could get very detailed allocation reports, a large number of future projections and reports. It had reports on things like education planning, major expense planning, and estate taxes that consumer level tools don't have. While I didn't use it, IIRC there was a budgeting & expense module, you could set up alerts like low cash balance, the program had a "vault" where you could put data that your heirs would need in their version too. The modules and access available may vary from advisor to advisor, maybe someone familiar with what they see in PlanVision's e-money instance can more fully describe it.

I take it that PlanVision makes recommendations consistent with the Boglehead philosophy? Might be worth their fee just to get e-money, have a second set of eyes look at my portfolio and be in place come the day I can no longer do it myself.
One eMoney report I really like illustrates your assets by tax type. The Income Tax Reports are also great. Although not labeled as such, they align with IRS Form 1040. You can then expand Income, Federal Income Tax, Other Taxes (SE tax, State Tax, LTCG etc.) reports for more detail.

The "second set of eyes" on your portfolio will likely be aligned with the BH philosophy and also take into consideration your own values, beliefs, and existing portfolio as flushed out in conversations.
sgm7091
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Re: ?s for those using/considering PlanVision

Post by sgm7091 »

We have been using planvision (Zoril) and eMoney for more than a year. Works pretty well we do not have IB. I do not integrate logins directly but instead enter holdings with ticker symbols. Call it paranoid but I try not to link accounts directly (eg some ach asks you to, instead I use small deposit verify for those) if I can help it.

The holdings get updated real-time and I only have to update holdings if i added or removed positions . I do that about once every two months or so. EMoney reports are very useful. Side note, Fidelity has Analysis section to show full portfolio too.
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Re: ?s for those using/considering PlanVision

Post by sleepysurf »

Miriam2 wrote: Tue Jun 22, 2021 4:39 am
arcticpineapplecorp. wrote: don't forget Mark's doing a presentation tomorrow at 8 pm. e.t. at the tampa bay + South FL bogleheads chapter:
https://www.bogleheads.org/blog/calendar-of-events/
Thank you, Arctic, for posting the info :happy

The Tampa Bay and South Florida Bogleheads are hosting Mark Zoril and Jason Lynch from PlanVision on Tues June 22, 2021, at 8:00 pm ET. Please click here for the Zoom link posted on the BH Blog Calendar of Events.

This is a follow-up meeting requested by the BH poll following Mark and Jason's first presentation on general investing topics on April 27, 2021. Please click here for the recording of that first meeting.
Thank you Arctic... and Miriam for sharing tonight's meeting info. Although jointly hosted by the Tampa Bay and South FL chapters, it's open for ALL interested BH's. If you wish to participate, please RSVP here (it's totally anonymous) just so we have a rough "head count" for planning purposes.
Retired 2018 | currently ~64/33/3 (partially sliced and diced, with a slowly rising equity glide path)
SnowBog
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Re: ?s for those using/considering PlanVision

Post by SnowBog »

Sahara wrote: Tue Jun 22, 2021 8:36 am
Exchme wrote: Tue Jun 22, 2021 8:19 am I've looked at their site and their fees make even a cheapskate like me smile.

The only thing I miss about my former AUM advisor is e-money, the aggregation feature was a time saver and I could get very detailed allocation reports, a large number of future projections and reports. It had reports on things like education planning, major expense planning, and estate taxes that consumer level tools don't have. While I didn't use it, IIRC there was a budgeting & expense module, you could set up alerts like low cash balance, the program had a "vault" where you could put data that your heirs would need in their version too. The modules and access available may vary from advisor to advisor, maybe someone familiar with what they see in PlanVision's e-money instance can more fully describe it.

I take it that PlanVision makes recommendations consistent with the Boglehead philosophy? Might be worth their fee just to get e-money, have a second set of eyes look at my portfolio and be in place come the day I can no longer do it myself.
One eMoney report I really like illustrates your assets by tax type. The Income Tax Reports are also great. Although not labeled as such, they align with IRS Form 1040. You can then expand Income, Federal Income Tax, Other Taxes (SE tax, State Tax, LTCG etc.) reports for more detail.

The "second set of eyes" on your portfolio will likely be aligned with the BH philosophy and also take into consideration your own values, beliefs, and existing portfolio as flushed out in conversations.
I'm not sure if they are on or follow BH forums... But they are big believes in simplicity and low cost indexing. I believe the founder (Mark) has gone to a single target date fund for his investments.

From my view, between their 2nd opinion and advice and access to eMoney, I've gotten far more value than expected from them. I highly recommend them for those that want a sounding board!
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sleepysurf
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Re: ?s for those using/considering PlanVision

Post by sleepysurf »

I just found this (brief) video overview about PlanVision... https://youtu.be/uCLWifQBsUE

I'm sure Mark and Jason will go into more detail, and answer questions, during tonight's presentation.
Retired 2018 | currently ~64/33/3 (partially sliced and diced, with a slowly rising equity glide path)
esteen
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Re: ?s for those using/considering PlanVision

Post by esteen »

buckeye7983 wrote: Mon Jun 21, 2021 6:00 pm esteen-

Thanks for your concise and clear thoughts! Sounds like you must use PlanVision and like them!
I don't currently use PlanVision, but have spoken with Mark Zoril extensively and understand the backend software he uses at his firm. To clarify point #3, I believe it's as "safe" as any of the other leading account aggregator sites or client portals that other financial planners use. eMoney is one of the software leaders in this space. Nothing is foolproof, but in my book it isn't any less safe than, say, using Mint or Personal Capital to aggregate your accounts.

I very much like PlanVision's services and philosophy. I would say it's not for everyone, but it is a unique offering and fills a desperately needed niche of sound, basic investing/planning advice at rock-bottom prices.
This post is for entertainment or information only, and should not be construed as professional financial advice. | | "Invest your money passively and your time actively" -Michael LeBoeuf
haldol777
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Re: ?s for those using/considering PlanVision

Post by haldol777 »

I'm a newer customer of PlanVision. I've completed my eMoney linkage, data review and initial planning review. You don’t need to link accounts in eMoney if you don't want to.

eMoney is a valuable piece of the package. I had it with a previous adviser (that ultimately didn't work out) and it's extremely powerful. Most importantly, Mark and Jason are super facile in using it to quickly model out various scenarios. It made me realize that other advisors are using eMoney as the vehicle to charge high rates for automated advice.

The overall service is well worth the cost. As others have said, I think the philosophy is in line with those on this forum. There wasn't a big focus on specific portfolio recommendations - I get a sense that if there's something Bogle-like (diversified, appropriate allocations, reasonable costs), all is good.

It's refreshing to have someone in the financial industry not fleecing me of money....either through selling me stuff, giving me speculative advice, making things unnecessarily complex or any of the other shenanigans that go on. My wife didn't like ANY of the other people I've tried ("he/she is a sleaze-ball!" - as usual, she was right) but she really liked our time with Mark. And now there is someone she can go to if something happens to me. Again, well worth the nominal fee that is charged…..and I’m very happy that my long-time lurking on this forum lead me to their service.
Silk McCue
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Re: ?s for those using/considering PlanVision

Post by Silk McCue »

haldol777 wrote: Sat Jul 03, 2021 7:35 pm I…..and I’m very happy that my long-time lurking on this forum lead me to their service.
Cool. Your second post in right at 10 years. A very stealthy “lurker”indeed.

Cheers
haldol777
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Re: ?s for those using/considering PlanVision

Post by haldol777 »

Ha! That's very true. I don't know how people have the time to post 1000's of comments with soooo much detail.....I guess the time comes with financial independence,...which I am working towards.

Since I've gained so much from this forum in those 10 years, I guess it's time to give some back. Maybe you'll see me more....
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