Highlights from 2023's Kitces Advisor Technology Report

August 17, 2023

Quote from Kitces Report on "The Technology That Independent Financial Advisors Actually Use and Like": "RightCapital, which ranked highest in overall satisfaction, received average or above average satisfaction ratings in all 13 attributes. No other financial planning software vendor rated so consistently high across every attribute."

Key Takeaways

  • In the August 2023 Kitces advisor technology report, RightCapital was named a "standout" in the financial planning category, earning the highest satisfaction rating (9.1 out of 10) and the highest value rating among the "Big 3" planning platforms.
  • RightCapital received top rankings in four key attributes: plan methodology (modeling both goals-based and cash-flow-based plans), Monte Carlo simulations, ongoing advice engagement (with tools like Blueprint and Snapshot), and customer support.
  • RightCapital was the only financial planning vendor to score average or above average across all 13 attributes measured, with the report predicting its continued rise in market share among independent advisors.

We expect the updated version of this report later in 2025. In the meantime, here is a recap of “How Financial Planners Actually Do Financial Planning”, released by Kitces in March 2025.

With their unrivaled knowledge of the financial planning technology and Ph.D.- grade survey methodology, the Kitces team has once again delivered fresh, insightful advisor tech benchmarks in the new August 2023 study, “The Technology That Independent Financial Advisors Actually Use And Like.” If you’re a financial advisor looking to refresh your outdated tech stack, this report is a must-read. The full 150+ page PDF is well worth your time (you can download it from the Kitces website), but if you’re actively evaluating new financial planning software, we have the TL;DR for you below: 

RightCapital is a noted “standout” in the Financial Planning category with the highest satisfaction rating and a “rapid growth streak”

"The Big 3"—eMoney, MoneyGuidePro, and RightCapital—command almost 80% of the financial planning software market. While MoneyGuide is in second place for market share, its share has been declining (22% in 2023 versus 30.3% in 2021) and its satisfaction ratings have dipped (7.7 in 2023 versus 8.2 in 2021). This survey predicts: “The fact that (RightCapital) still generates both the highest satisfaction and value ratings of these 3 suggests that it will continue to rise, likely surpassing MoneyGuide’s market share among independents in the coming year.”

Here’s the current market share, satisfaction and value rankings comparing eMoney, MoneyGuide and RightCapital:

Chart from the 2023 Kitces Report "The Technology That Independent Financial Advisors Actually Use And Like" showing RightCapital with a higher satisfaction rate than eMoney and MoneyGuide

RightCapital has been the highest rated financial planning software for years, but what’s new is its satisfaction score rose to 9.1 out of 10.

RightCapital received top rankings on 4 attributes: plan methodology (RightCapital can model both goals-based or cash-flow-based plans), Monte Carlo simulations, ongoing advice engagement (highlighted by RightCapital’s recent Blueprint and Snapshot tools), and customer support.

Chart from the 2023 Kitces Report on "The Technology That Independent Financial Advisors Actually Use And Like" showing RightCapital with an overall satisfaction of 9.1/10 and higher than average scores in 13 other categories such as ease of use, comprehensive, and visuals

As shown, RightCapital, which ranked highest in overall satisfaction, received average or above average satisfaction ratings in all 13 attributes. No other financial planning software vendor rated so consistently high across every attribute.

A quick note on methodology

You’ll notice that market share data is slightly different between this Kitces Report, “The Technology That Independent Financial Advisors Actually Use And Like,” published in August 2023 and the earlier Kitces Report, “How Financial Planners Actually Do Financial Planning”, published in January 2023 (which we summarized in a separate blog here). That’s because these are two different surveys conducted at different times with a different focus. The January survey is focused on “financial planning process” while this latest advisortech study “highlights trends in how advisors use various technologies within their firms”. It's significant to point out that the both studies maintain strict criteria for respondents through various measures like unique codes, mandatory years in business, required account creation, and no sponsorships to ensure the study's impartiality.

Did The Kitces Report pique your interest about RightCapital? See it for yourself in a 1:1 personalized demo with one of our product specialists by booking a demo below.

Frequently asked questions

The Kitces Report is a respected, in-depth industry study that benchmarks the technology independent financial advisors actually use and like. Known for its rigorous survey methodology, it helps advisors evaluate and compare tools across categories such as financial planning, CRM, and portfolio management.

RightCapital was named a "standout" in the financial planning category, earning the highest overall satisfaction rating (9.1 out of 10) and the highest value rating among the top three planning platforms. It was also the only vendor to score average or above average across all 13 attributes measured.

Goals-based planning focuses on whether a client can meet specific goals using simplified assumptions, while cash-flow-based planning models detailed year-by-year income, expenses, and taxes. RightCapital supports both methods, which contributed to its top ranking for plan methodology.

A responsive, knowledgeable support team helps advisors use a platform confidently and efficiently day to day. Strong support was one of the four attributes where RightCapital ranked highest in the 2023 Kitces report, reflecting fast, expert-level service.

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