Financial Planning Consumer Research Study – 2023

The FPSB Value of Financial Planning Consumer Research study presents a compelling comparison between the personal experiences of individuals who navigate their financial journey alone, those who work with a financial planner, and importantly, those who seek advice from a CERTIFIED FINANCIAL PLANNER professional.

We are living in an everchanging, complex world which is calling for people everywhere to become more financially responsible.

This study has found that people who work with a professional financial planner feel better off both financially and more broadly. They report having a better quality of life, enjoying more financial confidence and resilience, and feeling more satisfied with their financial situation.

In this study, they found that almost all consumers advised by a CFP professional trust them to act in the client’s best interests. That makes sense when you consider that CERTIFIED FINANCIAL PLANNER professionals have committed to rigorous standards of competency and ethics and have achieved the globally recognised symbol of excellence in financial planning.

Top 5 benefits of working with a Financial Planner reported by clients:

1) Improved financial wellbeing and peace of mind.

2) Better financial decision making confidence.

3) Help to explain and simplify financial matters.

4) Feel more satisfied with their wealth.

5) Improved financial freedom and control.

  • 80% agree financial planning helps fulfill life dreams.
  • 83% feel they cope better when faced with health issues
  • 63% report financial planning positively impacted their mental health
  • 65% say financial planning positively impacted their family life

For the full report, please use the link below:

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Financial Planning Standards Board Ltd. – FPI