In this episode of Dynamic Planner connected, we are joined by Louis Williams who is here to talk about understanding clients. Looking into their financial wellbeing, behaviour, vulnerability and focus.

Financial planning is changing as technology improves consumer access and engagement. Consumers want fast, reliable, and personalised advice, which challenges advisors to build trust while adapting to digital needs. The industry is focusing on data integrity and security. In the future, financial advice will be highly personalised and automated, prioritising ethics and data protection to maintain consumer confidence.

The episode highlights the advantages of cash flow planning and how that is able to shape clients futures when it comes to their pensions. We also look into common pitfalls that may occur from this too.

The episode highlights the advice gap in financial services, focusing on its historical context and the variations in quality. It discusses the increasing demand for financial advice due to risk aversion and the impact of technology in offering basic guidance. The conversation also addresses the need for targeted support, the importance of accurate client data, and the potential of AI for hyper-personalisation in financial advice.

Consumer Duty has reshaped the advisory landscape, emphasizing client understanding of services and fees. Firms are reassessing their practices to ensure consistent service delivery. A cultural shift is occurring, moving from compliance to a proactive, client-focused approach. Technology is enhancing service delivery and documentation. Future regulatory changes are expected to further influence the financial services industry amid technological advancements.