Addressing the Decline in Financial Planning

Financial planning is one of the best ways that financial advisors can differentiate themselves in an increasingly commoditized market for financial advice. While firms urge advisors to incorporate planning into their practice, bank-based advisors have been slow to...

Assets Flow to Providers of Financial Plans

According to the MacroMonitor, 11 percent of US households have a written financial plan, but only 10% of them – 1% of all US households – have obtained that plan where they bank. As banks and credit unions consider the extent to which their financial advisors have...

As Goes the Financial Plan, So Go the Assets

With implementation of the Department of Labor’s fiduciary standard for qualified retirement accounts just around the corner, firms are looking to financial planning to help their advisors fulfill their responsibilities under the rule and justify the fees they...