Pocket Risk vs ProjectionLab
Pocket Risk
pocketrisk.com
ProjectionLab
projectionlab.comSide by side
| Figure | Pocket Risk | ProjectionLab |
|---|---|---|
| Price from | Free | $10.75/mo |
| Free plan | Yes | Yes |
| Free trial | Yes | Yes |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| API | — | Yes |
| Plans published | 6 | 6 |
| Spec score · Financial Planning Software | 8.2 (#14) | 8.8 (#7) |
| Documentation | Solevant lists documentation, videos, live online training and demonstrations as training options. | The Help Center has topic areas for accounts, cash flow, milestones, projections, taxes, investments, estate, progress, advisors, employers, billing and troubleshooting. |
| Founded | 2012 | 2021 |
| Purpose | Pocket Risk is an online investment risk tolerance questionnaire for financial advisors to assess how much investment risk clients are willing to take. | ProjectionLab simulates personal financial and retirement scenarios to help users plan their financial future. |
| Security | Pocket Risk says data in transit is encrypted at 256-bit and sent over HTTPS, and that it uses AWS infrastructure with daily backups. | The maker states that data is encrypted in transit with HTTPS/TLS and at rest with AES-256, and that it uses multifactor authentication and SOC 2 aligned controls. |
| Support | The maker says standard email support runs 8 a.m. to 5 p.m. Eastern on weekdays, with urgent calls sometimes handled outside those hours. | Support is available by email, through the Discord community, and via bookable educational 1-on-1 sessions. |
| What it does | Pocket Risk is an online investment risk-tolerance questionnaire for financial advisers. | ProjectionLab is a browser-based financial planner that models long-term household finances, milestones, cash flow, taxes and retirement outcomes. |
Plans
Pocket Risk
- BUSINESSFree
- BUSINESSFree
- PROFESSIONALFree
- PROFESSIONALFree
- SOLOFree
- SOLOFree
ProjectionLab
- BasicFree
- BasicFree
- Premium$129 a year
- Premium$129 a year
- Pro$549 a year
- Pro$549 a year
In their own words
Pocket Risk
Pocket Risk is an online investment risk questionnaire for financial advisors assessing how much investment risk clients are willing to take. Its 15 questions cover financial goals, financial situation, risk tolerance and risk capacity. Clients can answer online or on paper; the homepage says online completion takes five minutes. Advisors receive online and PDF reports, with personalized risk profiles presented through visuals and graphs. Scores can be connected to model portfolios, and the maker's model portfolio page says up to 11 portfolios can be added. Advisors can customize branding, add questions and disclosures, and embed the questionnaire on their own website. Pocket Risk says it integrates with Redtail CRM, with more integrations coming soon. It runs on the web, iOS and Android, and lists goal planning, investment planning and a client portal. The maker describes encryption in transit at 256-bit over HTTPS, AWS infrastructure and daily backups, and says it does not sell or distribute client data. A 14-day free trial is available. Plan listings show free while also describing annual billing, so confirm plan terms before relying on those figures.
ProjectionLab
ProjectionLab simulates personal financial and retirement scenarios to help users plan for different possible futures. Users can model life milestones, cash flow, estimated taxes, investment strategies, account types, withdrawals and estate outcomes. Monte Carlo simulations and historical backtesting let users explore potential outcomes. The free Basic plan includes forecasting, financial planning, simulations and backtesting. Premium adds tax optimization, Roth conversions, ACA subsidies, capital gains harvesting, international planning and advanced analytics, and costs $129 a year. Pro costs $549 a year and is aimed at financial advisors and coaches, with client management tools and 10 client seats. ProjectionLab does not directly link financial accounts, so users can make plans without supplying account numbers or connecting bank or brokerage accounts. The web app can be installed on mobile devices as a Progressive Web App; the maker says it has no formal mobile app. Support is available by email, Discord and bookable educational sessions.