8 Views From Advisors and Clients on the Future of Financial Planning

What do investors really need, and how can financial planners adapt to better meet those needs?

These issues were the focus of new research by the Financial Planning Association and Allianz Life.

“This important research uncovers the perceptions of financial planners as to how they may need to adapt their businesses and client engagement due to the changing landscape in the years ahead,” 2024 FPA President Claudia Kane said in a statement.

The research was conducted in June with 387 financial planners to gather insights on evolving trends, their potential implications and how firms will respond to change.

“The need for collaboration and a values-based approach is consistent with what consumers are telling us, and speaks to the opportunities and challenges the coming years will bring as new generations of clients and financial professionals enter the market,” Eric Thomes, chief distribution officer at Allianz, said in the statement.

Client insights came from the Allianz 2024 Annual Retirement Study, conducted online in February and March with a nationally representative sample of 1,000 individuals 25 and older with an annual household income of $50,000 or more for singles and $75,000 or more for those married or partnered, or investable assets of $150,000 or more.

See the gallery for eight views on the future of the industry from the investor and planner surveys.