Financial Planning: Fueling Client and Business Growth

Explore the benefits of a wealth-management-oriented service model
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THE POWER OF PARTNERSHIP

Leveraging a comprehensive planning approach

Over 53% of retail investors agreed that it is important to have a written financial plan and are increasingly looking to their financial advisors to provide that expertise. Yet, only 22% of advisors are charging for planning services even though these services provide a more balanced picture of a client’s needs from retirement to estate planning.

We partnered with Cerulli to show that leveraging a comprehensive planning approach can strengthen client relationship, increase share of wallet, and help advisors move upmarket as well as practical tips to provide more comprehensive financial planning in your practice.

Benefits of comprehensive planning

Showcase benefits to planning with data from advisors that are primarily investment planners vs case based planner to private wealth managers.

Private wealth manager advisors manage $822m on average versus $210m for case-based planner advisors.
Spectrum of financial planning

Categorize different types of practices based on orientation to comprehensive financial planning including services offered and approach to client discovery.

60% of advisors believe they are comprehensive financial planners when in actuality only 25% truly are
Incorporating comprehensive planning into your practice

Specific insights on specialized staff across practice types and most frequently offered planning and advice services to better understand how to differentiate your practice

Only 55% of advisors are providing estate planning and 46% are providing tax planning
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