The 7 Big Problems Facing Financial Planners Today

The world didn’t change. It has changed.

You can feel it in your practice, in your clients’ expectations, and in the constant stream of updates, tools, and trends. It’s no longer enough to say, “we’ve always done it this way.” The future of advice is already here, and if we’re honest, it’s already demanding more from us.

Here are seven big problems facing financial planners right now, and a few thoughts on how we might begin to face them.

1. Client expectations have shifted

Clients want more than advice... they want clarity, access, relevance, and real-time support.

• They no longer blindly trust. They want to understand.
• They want personalised, digital-first experiences.
• And above all, they want to feel confident that your service is built for them, not “someone like them.”

To meet these expectations, we must walk through our own client journeys. Not from the inside, but as if we were the client. What would you experience? Where would you feel stuck? What would make you feel seen?

Engagement and experience are what set you apart. Today, clients don’t want you to do it for them. They want you to do it with them.

2. Old business models no longer fit

Commission-only or fee-only models still have their place, but many clients now want options that reflect their own preferences.

Subscription-based fees, project work, hybrid models... flexibility is the name of the game. But above all, transparency wins trust.

So take a hard look:

• Is your pricing clear?
• Does it align with how your clients want to engage?
• Can you confidently explain your value, whatever the model?

Because it’s not about how you get paid. It’s about whether clients feel they’re getting what they need.

3. The speed of change feels overwhelming

New regulations, new tech, new client needs... it’s exhausting. And often paralysing.

But the goal isn’t to fix everything at once. It’s to pick one thing to focus on. One thing to explore. One thing to improve.

If you're stuck, try using the effort-impact matrix. Start small. Build momentum. And most of all, make space to think - not just do.

4. Tech and AI are still seen as optional

AI won’t replace you. But planners who use it wisely? They might.

Tech isn’t just about automation or efficiency, it’s about creating time for the work that matters. Not just for you, but for your team.

You don’t need to become a tech expert. But you do need to know what’s possible. That’s your responsibility as a practice leader.

Start small:

• Automate admin
• Improve workflows
• Create better content
• Use AI to support operations (not client advice... yet)

Tech doesn’t have to be a threat. It can be a gift.

5. Skills gaps are growing

You know the technical stuff. You’ve got the qualifications. But do you know how to listen?

Clients aren’t always looking for answers. They want to be heard. And that requires a different skill set.

Soft skills like coaching, communication, and behavioural understanding are now non-negotiable. And it’s not just about you - it’s about your team, too.

The more your clients understand, the more they can engage. So we don’t just need to upskill ourselves, we need to help our clients do the same.

6. Your business still looks like it’s 2010

Old tech stacks, outdated websites, clunky processes, these are silent killers of trust and engagement.

Clients compare your experience to Amazon, Takealot, or Capitec... not just other planners.

Ask yourself:

• Is your website a living, breathing platform or a faded billboard?
• Are you still using paper when digital is easier?
• Have you rebuilt your processes, or just digitised the old ones?

Don’t digitise what’s broken. Redesign from the ground up. And make sure your staff are part of that process, they know it best.

7. You’re doing too much alone

Whether you're a solo operator or leading a team, the risk is the same: trying to solve everything by yourself.

That leads to bottlenecks, burnout, and bad decisions.

Instead, look to:

• Collaborate with product providers
• Join peer groups
• Build communities of practice
• Ask for help

Working together isn’t a weakness. It’s a smart strategy.

Start with one thing

These seven problems? They’re not just obstacles. They’re invitations.

You don’t need to fix everything. But you do need to start.

Choose one to explore this week. Be curious. Be intentional. And don’t wait for the calendar to give you permission.

The future of advice is already here.

Are you part of it?

Watch the full episode

Catch the full conversation on the PROpulsion YouTube channel and hear me dive deeper into each of these seven challenges, and how we might face them together.

If this resonated with you, leave a comment and share with your network. Let’s raise the bar together.