Money can be a source of stress for many people. For some, it can even take a personal toll on them, impacting their quality of sleep and even their mental health.
The current economic climate isn’t helping. The global economic outlook is strained, with stubbornly high inflation, rising interest rates and costs of housing squeezing day-to-day budgets for some families.
The good news is professional financial planning can help. Financial planners support people to take control of their financial lives, empowering them to feel more confident and stay on track to achieve their goals.
A recent study from the Financial Planning Standards Board 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.
Clients of CFP professionals report that they feel particularly satisfied. Across the globe, people who work with a CERTIFIED FINANCIAL PLANNER professional say they experience the highest quality of life, enjoy the most confidence, feel most satisfied with their financial situation and feel their relationship with their financial planner has left them better off.
The trouble is not everyone uses the services of a financial planning professional. One of the most common reasons is that people say they find it hard to know who they can trust with their finances. In this study, we 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. Read more…