The Planner: Fixing finances, the future, and feelings
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The Planner: Fixing finances, the future, and feelings

August 8, 2014

by Tony Vidler

As professional advisers we fix finances, clients futures and their feelings about both.  This lies at the heart of the value of financial planning – and we should thank the Canadians for verifying that.

Apart from being lovely folk, the Canadians (in the form of FPSC) have invested heavily into a massive body of research to determine what value consumers derive from financial planning.  Some 15,000 consumers surveyed over a 3 year period, from a wide variety of socioeconomic backgrounds, ranging from those who have engaged in full financial planning, to those who have taken limited advice, to those who have taken no advice at all.

The results of the survey are fascinating, and it is the best body of work I have seen in the pursuit of establishing what value financial planning provides to its customers.

Here’s the bottom line:  the majority of clients who have engaged in comprehensive planning feel more in control of their finances, and their future and have better feelings about their ability to meet the tempests of life.

The results didn’t just suggest that clients felt better about the future either, as there was a very strong element of them being able to enjoy a better lifestyle today as well.   More of them were prepared for financial bumps, were having the vacations they wanted, and felt they were living the lifestyle they wanted – today.

The result:  those who engage in full financial planning have significantly higher levels of financial and emotional well-being.

Every financial planner should check out this piece of research, as it highlights the actual value to clients of sound planning with professional advisers.


…and thanks to the more than 15,000 Canadians involved in providing information, compiling and interpreting all the data for this excellent piece of research…


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