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Demand for Financial Planning growing
The demand for Financial Planning is growing, according to a new report.
The FPSB has released research to coincide with World Financial Planning Day showing that people who use a Financial Planner report a better quality of life.
The research found that clients reported improved financial wellbeing and peace of mind (38%), financial confidence (37%), a better understanding of financial matters (36%), and greater wealth growth (33%).
Over half (51%) of clients who work with a CFP professional reported that Financial Planning has positively impacted their mental health and family life.
Demand for Financial Planning was also growing, according to the report. Three quarters (72%) of people who have never received Financial Planning advice said they would consider doing so, with 52% intending to seek advice within the next three years.
The research also found that clients showed a strong level of trust in their Financial Planners. Over 9 in 10 (95%) of clients surveyed said they trusted their Financial Planner to act in the best interest of their clients. This level of trust increased to 98% for clients who work with a CFP professional.
The benefits of Financial Planning were also wide-ranging. Clients reported Financial Planning has helped them to build a realistic plan to achieve a more comfortable retirement (35%), get the most out of their financial situation (33%) and reduce financial worries and stress to achieve great peace of mind (33%).
Over half (55%) of clients of Financial Planners said they were highly satisfied with their wealth, compared to 41% of unadvised consumers.
FPSB chief executive Dante De Gori, CFP, said: “By creating a holistic financial plan with the help of a Financial Planner who has committed to putting clients’ interests first, like a CFP professional, individuals can build a roadmap to achieve their goals and feel better about their future.”
The FPSB surveyed 15,000 consumers in 15 countries to examine the value of Financial Planning.
From Financial Planning Jobs. For more click on any job.
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