Financial Planning Emerges as Core Growth Engine for Advisors

Financial planning is rapidly becoming a core service offering across the advisory industry, as firms expand capabilities to meet rising client expectations and compete with fast-growing digital platforms.

According to Cerulli & Associates, advisors expect 54% of clients will receive comprehensive, ongoing planning advice by 2027, up from 48% today, reflecting a continued shift beyond traditional investment management.

“Financial planning remains the primary way for advisors to engage with clients and compete with well-known online brokerage platforms,” said Noah Serianni, research analyst at Cerulli. “Investors have grown accustomed to fast transaction capabilities, easy-to-use interfaces, and basic planning features and expect the same from their financial advisors.”

The trend comes as self-directed brokerage platforms have grown at a 14.3% five-year CAGR, outpacing even the independent RIA channel, which expanded at 11.4% over the same period.

Advisors cite stronger client relationships (83%), improved outcomes (79%) and higher retention (73%) as key benefits of delivering comprehensive planning services. Technology is also playing an increasingly central role.

“Technology is a critical part of financial planning, particularly when engaging younger retail investors who are used to, and highly value, easy-to-use online brokerage platforms,” Serianni added.

However, challenges remain, with 58% of advisors reporting gaps in their planning technology, highlighting the need for more integrated, scalable solutions as the industry continues to evolve.