Executive Summary
As record numbers of Canadian’s struggle financially and seek advice and guidance from financial advisors, Vibe Planning introduces a transformative approach that leverages artificial intelligence (AI) and natural language processing to deliver personalized, dynamic, and efficient financial plans. Unlike traditional comprehensive financial planning, which is often time-consuming, rigid, and product-focused, Vibe Planning empowers advisors to collaborate with AI in real time, focusing on client goals and adapting swiftly to changing circumstances.
This paper will establish that Vibe Planning is effective for the vast majority of client engagements by enhancing Know Your Client (KYC) processes, personalizing advice across diverse client profiles, and overcoming the limitations of traditional methods through speed, flexibility, and iterative refinement. It demonstrates why Vibe Planning represents the future of client-centered financial planning in Canada.
Introduction
Comprehensive financial planning has long been the industry standard, relying heavily on manual data collection, complex financial forecast, and static client interactions. While detailed, this approach often struggles with inefficiencies and lacks the flexibility needed in today’s fast-changing financial environments.
Vibe Planning redefines how advice is delivered by integrating AI-driven natural language interaction with an iterative, goal-focused process. Advisors engage with AI conversationally, providing high-level instructions and receiving detailed, evolving client profiles and recommendations. This collaboration streamlines analysis and advice, enhances client understanding, and delivers superior outcomes.
What is Vibe Planning?
Vibe Planning is a financial planning methodology supported by Vibe Plan Software, designed by Dave Faulkner, CLU, CFP, creator of RazorPlan financial planning software. Vibe Plan uses AI to:
- Interpret client goals and advisor instructions expressed in natural language.
- Generate comprehensive, dynamic financial profiles considering client data, behaviors, and habits.
- Continuously refine plans through advisor feedback and client collaboration.
- Prioritize client goals over product sales or rigid financial formulas.
This approach transforms financial planning into a living, adaptive process, focusing on what truly matters most to your clients.
Key Features and Benefits
AI-Driven Natural Language Interaction
Advisors communicate with the Vibe Plan in everyday language, eliminating the need for manual data entry or complex calculations. This natural interaction makes advanced financial planning accessible to all advisors, regardless of experience or technical expertise.
Iterative Refinement and Real-Time Updates
Vibe Plan supports ongoing plan development. Advisors review AI-generated profiles, provide feedback, and adjust instructions instantly. This iterative process ensures plans remain relevant as client circumstances and goals change.
Client Goal Focus
Unlike traditional methods that often emphasize products or numbers, Vibe Plan focuses on understanding and prioritizing client goals, values, and behaviors. This leads to more meaningful advice and better client engagement.
Enhanced Know Your Client (KYC)
Vibe Plan analyzes client questionnaire responses to build a thorough understanding of each client’s financial situation, risk tolerance, habits, and goals. This comprehensive KYC process enables personalized advice tailored to individual needs.
Speed and Flexibility
Where traditional financial planning software can take hours or days to complete, Vibe Plan delivers insights and updates in minutes. Plans can be modified instantly to reflect new information, economic changes, or client feedback.
Advisor Empowerment
Vibe Plan shifts the advisor’s role from data processor to strategic financial coach. Advisors focus on interpreting client needs, refining AI generated outputs, and building relationships, enhancing both efficiency and client satisfaction.
Comparison with Traditional Financial Planning
| Aspect | Traditional Planning | Vibe Planning |
| Process | Manual data collection, analysis over hours or days | AI-assisted, conversational, near-instant plan generation |
| Focus | Products, numbers, fixed plans | Client goals, values, dynamic and evolving plans |
| Speed & Flexibility | Slow updates, rigid structures | Real-time updates, flexible and iterative |
| Advisor Role | Expert who builds and explains static plans | Guide who collaborates with AI and client |
| Client Interaction | Formal, scheduled meetings | Ongoing, flexible conversations with client feedback |
| Outcome | Fixed plan with charts and numbers | Living plan that evolves with client’s life |
Traditional financial planning often struggles to keep pace with client needs and market changes, leading to outdated advice and missed opportunities. Vibe Plan overcomes these limitations by embedding agility and client collaboration into the core process.
Client Suitability and Personalization
Vibe Plan adapts seamlessly to diverse client profiles, making it suitable for the vast majority of your engagements:
- Individuals Needing Money Management Help: Suggests budgeting and cash flow strategies.
- Home Buyers: Creates tailored savings plans with adjustable timelines.
- Retirees and Near-Retirees: Develops retirement income strategies and government benefit optimization.
- Self-Employed Professionals: Handles irregular income, tax planning, and business fluctuations.
- Business Owners: Integrates business and personal finances for comprehensive risk management.
This versatility, combined with thorough KYC insights, ensures personalized, relevant advice across all life stages and financial complexities.
The Vibe Plan Process
- Create Client Record: Add a new client file with access to questionnaires, portal, and AI tools.
- Complete Questionnaire: Collect client data via a concise, 15-minute survey covering the six elements of financial planning.
- Generate Client Profile: AI automatically analyzes client data to identify strengths, weaknesses, opportunities and threats, list top priorities and suggest recommendations and next steps.
- Scope of Engagement: Determine the type of planning that is required and if this is the client profile you want to work with.
- Review and Refine: Advisor edits and enhances AI-generated top priorities and recommendations.
- Engage Client: Prepare your letter of engagement and required compliance documents.
- Share Portal Access: Clients view their profile, top priorities and recommendations online, with access controlled by the advisor.
- Review Features with Client: Educate clients on portal use and the Financial Coach AI for ongoing support and engagement.
This process reduces administrative burden while enhancing compliance and client involvement.
Overcoming Limitations of Traditional Planning
Traditional financial planning software faces several challenges:
- Time-Intensive Data Gathering: Manual input slows down the process.
- Static Plans: Fixed advice quickly becomes outdated.
- Limited Client Engagement: Rigid meetings reduce ongoing collaboration.
- Advisor Bottlenecks: Advisors spend excessive time on data entry and optimizing calculations.
Vibe Plan addresses these by:
- Automating client onboarding and data analysis with AI.
- Creating living plans that evolve with client needs and economic changes.
- Facilitating continuous, client-centered conversations and advice.
- Empowering advisors to focus on client goals and value-added guidance.
As a result, financial advisors deliver faster, more relevant, and more personalized financial advice.
Security and Compliance
Vibe Plan software adheres to Canadian privacy laws and industry best practices, ensuring client data is secure. Relevant compliance documents, including letter of engagement and disclosures, can be uploaded by the advisor to the client record, and become integrated into the process to maintain regulatory standards.
Trials and Adoption
Vibe Plan offers:
- A 7-day basic trial for advisors experienced with financial planning and AI tools.
- A 30-day enhanced trial with guided onboarding and training by a Vibe Planning specialist.
These options support smooth adoption, reduces the frustration of learning new software, and demonstrates the Vibe Plan platform’s value in real-world planning engagements.
Conclusion
For Canadian financial advisors, Vibe Plan represents a major shift in how financial planning and advice is delivered. It combines the power of AI and natural language with the human insight of advisors to create a faster, more flexible, and client-centered planning process. By focusing on client goals, enhanced KYC, and enabling iterative refinement, Vibe Plan alone will serve the needs of most client engagements.
Traditional financial planning software, while valuable, cannot match the efficiency, adaptability, and personalization that Vibe Plan delivers. Advisors who embrace this innovative approach position themselves at the forefront of the industry, ready to meet the evolving needs of their clients with confidence and agility.
Dave Faulkner, CLU, CFP 