Financial Tools: Part 2 – Financial Planning App

Covid-19 has dealt a severe blow to the economy and as it has affected people of all ages and vocations across the world. At Parents World, we are exploring how people, especially parents can cope with this financial uncertainty using the many tools at hand, in a 3 part series.

In Part 2 of our series, we present to you Up, a new platform that simplifies financial planning. Up is simple and convenient to use by all irrespective of their financial status or knowledge, allowing people to plan their finances ahead to optimize savings and realize dreams.

We asked Laurent Bertrand, Co-Founder and CEO, BetterTradeOff some questions to understand more about Up.

Laurent Bertrand, Co-Founder and CEO, BetterTradeOff

Q. How can Up help people keep track of costs and create a viable financial plan for the future? What tools and benefits does it provide?

LB: “Up is a free, online platform, that makes it possible for anyone to build a sound and comprehensive financial plan regardless of their financial acumen.

The interactive and visual nature of the solution means that people can see and understand the impact of different decisions while exploring their financial goals and dreams. Users can view their long-term cash flow, savings, and net wealth via easy to understand dashboards that update in real time when they drag and drop things like home purchases or investments into their plan. Up incorporates local Singapore market data and automatically calculates items such as CPF and local inflation rates, while taking into account other factors like users’ projected income growth.

It covers all aspects of the user’s life, not just their financial assets, but things like travel and major one-off expenses such as weddings, so they can plan and manage both their immediate and long term expenses. We like to say – it’s the future at your fingertips.

Q2: How does Up fare in comparison to your run-of-the-mill financial planners ?

LB: “Up was not developed to replace Financial Advisers – rather, our objective is to help people see the value of financial planning, whether they’re looking to do it on their own, or in collaboration with an adviser. With Up, users can set goals and look at different strategies or actions for reaching them, just as they would when working with a good Financial Adviser.

Up also offer a software solution for Financial Advisers – Up Adviser – and partnered with leading Financial Adviser firms in Singapore. Up Adviser helps Financial Advisers deliver the convenience, transparency, and interactivity of a digital solution to their clients. Allowing clients to better collaborate on their plans, as well as review and manage their plan from the comfort of their home.

In a nutshell, with compatible consumer and Adviser versions, Up enables users to explore multiple scenarios to find the plan that’s right for their goals and needs, while taking into account all of the information required to make sound financial decisions in a way that’s more intuitive and transparent.”

Find out more at Up