MyOwnFP

What MyOwnFP is

MyOwnFP is web-based financial planning software for Canadian do-it-yourself investors and financial advisors. Users can create, compare, and save scenarios, then examine them through a planning grid, cash-flow visualization, account charts, and scenario comparisons. Its models cover Canadian accounts and benefits including TFSA, RRSP, CPP/QPP, OAS, GIS, and pensions, alongside tax tables for federal, provincial, and territorial jurisdictions. The service supports cash-flow modeling, tax planning, investment planning, and scenario analysis. Subscribers can share a client with another MyOwnFP subscriber, such as an advisor. The free plan is limited, is currently free for use, and requires no credit card. Standard costs $40 a year and includes five clients; Unlimited costs $140 a year for unlimited clients. MyOwnFP says it hosts the service on AWS in Canada, uses HTTPS for browser communications, and encrypts stored data at rest. Google is used for login and Stripe handles payment processing. The company says bank details are not required and entered data is standalone; data without a subscription may be deleted at its discretion.

Who it suits

MyOwnFP is aimed at Canadian DIY investors and financial advisors who want to model scenarios using Canadian accounts, benefits, and tax tables. Advisors can share clients with other subscribers.

Limits

The Free plan is limited. Standard costs $40 a year and supports five clients; Unlimited costs $140 a year for unlimited clients.

Getting started

1. Open https://myownfp.ca/ in a web browser.
2. Choose the Free plan or a paid plan.
3. Sign in using Google as the identity provider.
4. Enter planning data; banking information is not required.

Verdict

MyOwnFP focuses its planning tools on Canadian accounts, benefits, and taxes, with scenario comparisons and client sharing. Review the free-plan limit and data-retention terms when choosing a plan.