Survey results show how many participants agree with or behave in the following ways:

  • Comprehensive financial planning participant1
  • Advice-supported2
  • Self-directed3

  • I have clear financial direction

    88 percent are a comprehensive planning participant, 70 percent are advice-supported, and 60 percent are self-directed.

  • I have control of my finances

    87 percent are a comprehensive planning participant, 78 percent are advice-supported, and 71 percent are self-directed.

  • I am on track to achieve my financial goals

    78 percent are a comprehensive planning participant, 58 percent are advice-supported, and 51 percent are self-directed.

  • I have financial peace of mind

    81 percent are a comprehensive planning participant, 73 percent are advice-supported, and 70 percent are self-directed.

  • I have confidence in my ability to cope with the financial impact of unexpected events

    82 percent are a comprehensive planning participant, 70 percent are advice-supported, and 57 percent are self-directed.

  • I feel my goals and dreams are financially secure

    75 percent are a comprehensive planning participant, 61 percent are advice-supported, and 49 percent are self-directed.

  • On track with saving money (among those who named saving money as a primary goal)

    52 percent are a comprehensive planning participant, 45 percent are advice-supported, and 35 percent are self-directed.

Additional highlights from the study include:

  • Nearly 9 out of 10 (88%) respondents with a comprehensive financial plan feel they have a clear financial direction, a number nearly 50% higher than those without professional planning services (60%).
  • Baby boomers with a comprehensive financial plan say they are twice as likely as those with no professional support to feel in control of their financial future (46% vs. 23%).
  • Women with a comprehensive financial plan report they are nearly twice as likely as women without professional support to feel in control of their financial future (44% vs. 24%).
  • Among the mass affluent and affluent (over $100K in investable assets), those with a comprehensive financial plan (55%) feel more in control of their financial future than those with no professional support (39%).

FPA® and Ameriprise® Value of Financial Planning study conducted by Harris Interactive, August 2008.

1 Comprehensive financial planning participant: Works with a professional advisor and has a written, comprehensive plan that covers at least 3 of the following areas: retirement, investment planning, savings, insurance, estate planning, taxes, debt and college saving.

2 Advice-supported: Works with a professional advisor but does not have a written, comprehensive plan.

3 Self-directed: Does not work with an advisor and does not have any type of plan other than a basic personal (non-professional) plan.