financial-advisor-senior-couple-talking

Nearly everyone (92%) with a written financial plan follows all or most of their advisors’ recommendations, finds a survey by Desjardins Wealth, and they are more likely to achieve their financial goals.

Read: What services do clients want?

The survey, which focuses on Quebec, also shows that while achieving all their financial goals is a priority for the province’s residents, they’re not taking charge of their personal finances, due to a lack of time, interest or know-how.

Quebecers who have a written financial plan feel better-equipped to reach their goals, better able to focus on their goals and better able to understand the options proposed to them by their financial advisor, the survey finds.

Read: Keep clients devoted

Sixteen percent of Quebecers have a written financial plan, and 93% of those with a plan are confident that they’ll be financially capable of achieving their goals during their working lives and in retirement.

Nearly 90% of Quebecers are familiar with the concept of financial planning. But their understanding is mostly limited to retirement planning and budgeting—which is not the same thing as a financial plan. A comprehensive financial plan also includes project financing, asset protection, education savings for children and grandchildren, tax strategies and estate planning.

Read: Why saving money isn’t the secret to retirement


Originally published on Advisor.ca

Add a comment

You must be logged in to comment.

Register on Advisor.ca