The authors suggested that while goals-based planning is important, the clients are not seeing any real differences in the offerings from wealth management firms. It is also interesting to note that advisors felt that their goals-based offering was the second most important reason that clients hired them. It is always about fees and value Since the release of our white paper, Next Wave of Financial Planning, I have spent a lot of time debating (defending?) one of our major premises: fees are coming to a fork in the road.
Real planning takes time, focuses on goals, and reports on progress to goals. It also takes communication of the short term and long term benefits. Can your client clearly articulate your process? Can you show them?