Pivotal moment in advice: The power of a holistic and behavioural approach

Rio Stedford, Head of Financial Planning at Finura, spoke to Professional Adviser about how the future of wealth planning now lies in a holistic approach that integrates hyper-personalisation, emotional intelligence, and outcome-based strategies

2025 marks a pivotal moment for the wealth management profession. Rapid technological advancements, shifting client expectations, regulatory, and political changes are reshaping the financial planning landscape.

The future of wealth planning now lies in a holistic approach that integrates hyper-personalisation, emotional intelligence, and outcome-based strategies.

Beyond the ‘what’ and understanding the ‘why’

For too long, wealth management has focused on the ‘what’. Be that investment choices, asset allocation, or financial products. However, as client expectations have evolved, understanding the ‘why’ behind financial decisions is critical. Although, for many businesses in the profession, it always has.

Behavioural finance plays a vital role here, offering insights into the psychology behind financial decisions. By integrating these principles, Financial Planners can provide truly personalised advice, helping clients stay committed to long-term goals despite short-term market volatility or emotional impulses. The key to delivering this consistently? A human touch.

Balancing the human touch with technological advancement

The rise of AI and big data has made hyper-personalisation not just possible but expected. Yet, technology alone isn’t enough.

If you happen to be a part of any, you will know that DIY investor forums illustrate this well. Despite the convenience of robo-advice and self-investment apps, investors still turn to online communities for validation Despite most group members being unregulated and ill-informed. Often leading to decisions being made based on social media noise rather than personal financial objectives. This highlights the need for a balance of leveraging technology to enhance efficiency while ensuring clients receive expert, human-driven advice.

For wealth management firms, the challenge is integrating AI and tech platforms without losing the human connection. Technology should serve as an enabler. Automating administrative tasks should be the first port of call to free up financial planner time to focus on behavioural finance, deepening client relationships, and providing strategic advice that helps clients make rational, well-informed choices.

The shift to outcome-based strategies

Clients increasingly demand measurable outcomes to justify taking and paying for financial advice. Demonstrating tangible value is essential, whether through cashflow modelling, retirement planning, or intergenerational wealth preservation.

At Finura, we champion lifestyle modelling, allowing clients to visualise their financial future and see how our planning moves them from A to B. By showcasing a clear roadmap to financial stability and growth, Planners can prove their value beyond simple investment returns.

Family wealth planning is another critical focus, especially with recent changes to the IHT landscape. A long-term approach that supports entire families and generational legacies ensures that financial security extends beyond an individual, but their parents, their children, and future family members. Wealth management firms that position themselves as stewards of family wealth have an opportunity to create lasting value and reinforce their role in securing widespread financial stability for years to come.

Collaborate to innovate

The profession is at a crossroads, facing both challenges and opportunities. By embracing a holistic approach and combining technology, behavioural finance, and client-centric strategies, we can propel the profession forward to create even more positive impacts for our clients.

As someone dedicated to driving transformational and strategic change, I am excited about the possibilities ahead and the work we are doing at Finura.

However, no business should navigate this alone. Collaboration and knowledge sharing within the profession are crucial to pushing the boundaries of what’s possible. Together, we can shape the future of wealth management. One that is more personalised and impactful for the clients we serve.

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Source: Professional Adviser

Date written: 25th March 2025