Advisors trying to persuade prospects about the benefits of planning can point to a new study of household financial decision-makers that shows those who have taken the time to put together a plan feel more confident and report more success managing savings and investments.
“Some people believe that financial planning is only for the rich,” CFP Board CEO Kevin Keller says. However, “those with a comprehensive plan, regardless of what their socioeconomic [status] may be, are both feeling better and doing better because of having that plan [whether or not] it’s a plan they paid for or if it’s something they did on their own.”
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