The future of financial planning is here

Why Financial Planet?

There is a growing community of financial advisors in Canada who believe strongly in the fiduciary standard and who choose to act in their clients’ interests above all else. Removing the necessity of selling financial products to obtain financial planning advice is the first step. These advisors represent the future of financial advice, where people can rest assured that their advisor will always put their best interests first.

What Works Best for the Client Works Best For The Financial Planner

Who is Financial Planet for?

One of the best things about Fee-Only financial planning is that it works well for both high net worth clients and for investors those just getting started.

One of the biggest misconceptions consumers have is that the financial planning advice they receive is complimentary. In reality, the payment for advice typically comes in the form of commissions or fees paid to the advisor in exchange for the sale or placement of an investment or insurance product. This results in two major flaws at the core of the financial planning industry:
Clients with bigger account balances end up paying higher dollar amounts in fees versus smaller account balances.
A client with a $100,000 account would pay the advisor $1,000 in fees.
A client with a $1 million account would pay the advisor $10,000 in fees.
As a result, many advisors choose to focus only on higher net worth clients, leaving many Canadians that are struggling with their finances, or younger Canadians just starting their careers, unable to access professional financial planning and advice. In many cases, the higher paying client is receiving the same advice, products, and service. The only difference is the size of the cheque paid to the advisor.
Add to this the current business model prevalent at many financial institutions, where the bottom line and maximizing profits are their ONLY focus. Usually, customer service and personal touch are sacrificed in the process. Most financial institutions have a minimum dollar of annual sales the advisor MUST reach to keep their job.
These two factors point to a glaring problem for Canadians seeking financial advice.
Those that need proper financial advice can’t get it.
Those that do get advice get products that are paying higher fees to the financial institution and the advisor.

It began with a big idea.

Kevin O’Brien

As a life-long learner and teacher, Kevin O’Brien has created a consistently successful career path. A Certified Divorce Financial Analyst (CDFA), Canadian Investment Manager (CIM) Portfolio Manager, and Registered Life Planner® designation from the Kinder Institute of Life Planning, Kevin has over three decades of experience in Financial Planning, where he offered clients professional advice and Fee-Based Financial Planning. Today, Kevin empowers financial planners to move to a sustainable, fee-only model through Financial Planet.

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