Embracing Financial Planning in Financial Institutions

Embracing Financial Planning in Financial Institutions:

Case Studies in the Transition to Holistic Financial Advice


Competitive pressures have firms recognizing the need to offer value beyond investment selection.  Planning could be the answer.  Kehrer Bielan research has demonstrated that financial planning is a key driver of advisor productivity, and that clients move their assets to the firm that provides the plan.  In addition, adopting a goals-based financial planning process helps Advisors make more informed recommendations and appears to be the best way to document that the advisor and the firm are acting in the client’s best interest.  All this explains why firms promote planning, yet the typical advisor in a financial institution works on less than two plans a month.

Among our most frequently asked questions:  do any firms charge for financial planning?  how do other firms train and coach their advisors to incorporate planning into their practice?  how many plans should I expect from an advisor?  These questions highlight that firms understand that they need to expand and solidify their financial planning offering, but are asking “how.” 

Drawing on our data and what we observe about how banks and credit unions structure and manage planning activities, we will create a compilation of case studies that will be a resource to support the adoption of holistic advice.

Fee:  $30,000.