Planning To Plan: Three Models Of Financial Planning

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  • Eric Kooy
  • Piper Jaffray

Published 2004, "Planning To Plan: Three Models Of Financial Planning", Journal of Personal Finance, 2004- Volume 3


  • This paper describes the two primary forms of financial planning used in the financial services industry: Needs-Based and Problem-Based planning. The strengths and weaknesses associated with each approach are presented. These approaches are used to define three ways in which the planner/client relationship can be established and maintained: Consultant Planner, Product Planner, and Comprehensive Planner. The paper concludes by suggesting that financial consultants who consistently apply a single model of financial planning may be in a better position in satisfying the needs of clients.