Few financial advisors would argue against the value of a financial plan. Studies¹ have shown that a financial plan helps clients stay on track with financial goals while allowing them to indulge more in discretionary spending. Other studies² have shown that advisors who focus on financial planning manage significantly more financial assets per client than those that don’t offer financial plans.

Despite these advantages, many financial advisors still do not routinely provide clients with a financial plan as part of the services they offer.

I will be posting about ideas, tools and resources that enhance the financial planning process and I invite all financial advisors to freely use them to deliver more value to more clients.

Perhaps overtime, I will be able to convince you of the value a financial plan will add.

Dave Faulkner, CLU, CFP

1 The Value of Financial Planning Study – FP Canada
2 More on the Value of Financial Advisors, – CIRANO, 2020.