“What value would come from working with a financial advisor?” The simple fact that this query is seldom brought forward by someone already working with a professional financial advisor answers this question in part.

“Only the very wealthy need a financial planner.” Because of the “accessibility thresholds” of some financial professionals, we can see how some people think that way. However, being a good financial planning client is more about attitude. If you’re someone who wants to manage their finances strategically and with intention, you’ll enjoy the benefits of working with an advisor regardless of how much discretionary income you have.

A recent study was commissioned and completed1, the results of which provide insight into the potentially life-changing impact of financial planning. In summary, the study revealed that people who engaged in comprehensive financial planning:

  1. were substantively more likely to report feeling on track with their financial affairs than those with limited or no financial planning;
  2. felt more confident in their plans to retire;
  3. improved their ability to save;
  4. were more confident that they are prepared to deal with the challenges and bumps in life such as unexpected financial emergencies, tough economic times and ensuring their loved ones are financially looked after should something happen to them; and
  5. felt more confident in reaching their discretionary lifestyle goals, notwithstanding the importance of saving.

Interested in reading more? We’ve attached a link to the report published by the Financial Planning Standards Council®.

Read/Download a PDF »

(This image links to the PDF)
Value of Financial Planning (FPSC) booklet

1. Surveys were conducted from August 2009 – August 2012. The research surveyed the general English-speaking population in Canada (excluding Quebec). The results are from the third year of research, conducted from April – August, 2012.