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The New Importance of Financial Planning, Part 2


Attracted by the recurring fees, many banks and credit unions have encouraged their advisors to shift from a commissions/ transactions-based approach to a model more focused on advisory business. But the advent of “robo advisors” is putting pressure on the size of those recurring fees that are tied to investment management, and regulatory developments may further dictate how clients can be charged. To differentiate their offering and justify the existing levels of fees, investment programs need to broaden their services to incorporate financial planning into their advisors’ practices.

In part two of a three-part series from Kehrer Bielan Research & Consulting, this white paper explores consumer data from Part 1 to measure how having a financial plan impacts customer loyalty and investing behavior.