Danny ChenConfidence does not come from the air. It comes from the understanding and preparation to achieve the desired goals that we aspire to reach.
Financial confidence follows the same principles. In our previous post, we introduced various external benefits that financial planning could bring to people. As a climate stakeholder, you may wonder if the professional financial planning service can bring multiple benefits to our lives while solving the climate problem, but why do most people not seek support?
From a 6,000-consumer study conducted by Financial Planning Standard Board(FPSB), we may be able to find some reasons:
Reason#1(30%): The service is too expensive to afford
Reason#2(29%): The trust is not built before the service
Reason#3(24%): The planning can be done by myself
Reason#4(19%): The service makes me feel vulnerable
Reason#5(16%): The preparation is not urgent now
Similar to responsible consumption, all the costs and undesired outcomes should be justified by their expected benefits and purposes. In addition, most financial planning services with fiduciary duties require professional training with a supportive system to provide the service.
