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UK: What do the professionals use? RRS feed

  • Question

  • Now the exchange rate and share price updates have died, like others here I've looked through most things on the market and concluded that a replacement for MS Money UK doesn't exist and won't happen - the economics aren't there for another cheap bit of software handling this much complexity; and the Web 2.0 generation doesn't want it anyway (they are happy to reveal passwords to aggegration services, provide personal data in exchange for cloud services etc).  The software that does exist is very thin on functionality and will soon frustrate me as my accounts are quite complex.

    Then it occured to me that I don't use £29 bits of software for the things that really matter (and not losing track of money really matters!).  For photo editing I use Adobe Creative Suite; for video editing, Sony Vegas.  These are built for heavyweight use by serious professionals - I only use 5% of their functionality but it's all there if I want it.

    So what is the heavyweight software tool that independent financial advisers, personal assistants to oligarchs, etc use in the UK to track many accounts across different currencies, reconcile credit cards, categorise and report on expenditure transactions, manage a portfolio?  Do they shoehorn it into Quickbooks? Do they have some other specialist tool?

    Instead of hunting fruitlessly for a low-cost mass-market tool like Money, is there a more expensive, specialist product for financial management which could be an alternative?

    Sunday, March 13, 2011 4:00 PM