Percentage of firms that use cashflow planning

M_Paraplanner

I was asked by my boss to find out if there was a statistic that measured the percentage of advisers/planner firms that use lifetime cashflow plannning with their clients. I'm not sure if its anything the industry measures but would be good to find out if such a statistic does exist. Cheers.

Andy_Schleider

I expect Professional Paraplanner might have some data on that - they have some sort of statistics data each month in their magazine, and there maybe something on their website.

arongunningham

It's probably lower than you'd imagine for those that do use it.

Having knowledge of how many use cashflow is useful, so you can claim to be a trailblazer if you do it too. But if the adviser wants to see if they need to do it, that's the wrong approach. He/She definitely should be doing it!

ruthiebusybee

@arongunningham said:
It's probably lower than you'd imagine for those that do use it.

Having knowledge of how many use cashflow is useful, so you can claim to be a trailblazer if you do it too. But if the adviser wants to see if they need to do it, that's the wrong approach. He/She definitely should be doing it!

Absolutely!

Nath

Difficult to gauge as a lot of firms now say they use it i.e. they have the licence and its a good selling tool, however, you would be surprised how many actually use this properly (IMO).

M_Paraplanner

Thanks - I'll have a look at Professional Paraplanner. We do use cashflow and wanted to see what % of the industry also did.

M_Paraplanner

@Nath said:
Difficult to gauge as a lot of firms now say they use it i.e. they have the licence and its a good selling tool, however, you would be surprised how many actually use this properly (IMO).

It's the bedrock of what we do. I agree there will be a difference between those who say they have it and those who use it day in day out with client plans.

Oldhandnewhand

I'm reentering the profession after a long absence but used cashflow modelling in all life scenarios over twenty five years ago, we never arranged a life assurance for a round number and (as a then tied agent) placed tons of PHI/IPI, I'd say it was critical and in the ultra low interest/prospective negative returns on other assets era of today if you don't use it in the retirement scenario how can anyone possibly advocate IHT planning.