The Value of Financial Planning – FPSB Consumer Survey

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When it comes to managing their finances, consumers are struggling. They are not highly confident, don’t stay on track, fail to achieve goals and most don’t have a financial plan. We know this because Financial Planning Standards Board (FPSB) conducted a global survey using GfK, a major research firm, in which more than 19,000 consumers in 19 territories say they face a unique set of challenges when it comes to financial planning. Despite these challenges, people aren’t seeking expert advice – instead they’re going to family, friends and the Internet for guidance on financial matters. Survey respondents say it’s a matter of trust. Consumers do not know whom to trust when it comes to financial planning, and yet trust is rated as a very important consideration when choosing a financial professional.

Financial planning can be confusing for many consumers. Consumers shouldn’t have to struggle to figure it out alone. People need professional financial advice they can trust – CERTIFIED FINANCIAL PLANNER professionals outscore other financial advisers significantly when it comes to excellent ratings on honesty and integrity, placing clients’ interests first, understanding clients’ needs and goals, and explaining financial matters in simple terms. The survey also reported that more people with a financial plan and who work with a CFP professional feel highly confident they will achieve their financial life goals. The FPSB global community is committed to elevating consumer awareness of the value of financial planning and the benefits of working with a CFP professional.


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