Preet Banerjee just put on a master class for Financial Planning Association of Canada members based on his work in ‘A Multi-Dimensional Analysis of the Value of Financial Advice to Households in Canada’.

One key take away from this for advisors and clients alike is that the value of using a financial professional is wide ranging – and that it is simply not enough to turn on your computer and say: ‘studies show that by working with an advisor, people accumulate $X more wealth’.

We have to do the work, and elevate the industry for the consumers we serve.

This slide caught my eye.

The marketing machine of the big financial institutions love coming up with new solutions to sell.  They always have some unique thing that they are ‘solving’ for.

Products are not advice.

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