Let’s explore what a financial planning syndicate is all about…
The financial planning industry is, in my estimation, the greatest industry in the world.
Where else can your work have such an impact on a client’s overall life journey? Financial planners provide solutions and guidance that have a profound positive impact on the lives of others, which makes this career choice tremendously rewarding.
At its core, the financial industry is built by well-intentioned financial professionals who all want to help people build a better financial future—but there’s a problem.
The problem is in the way the industry has evolved. The industry is not currently well organized to support what I call “the delivery of financial advice.”
In 2007, the Canadian Securities Administrators (CSA) made it possible for non-investment licensed financial planners to manage their clients’ investment affairs with licensed discretionary portfolio managers and investment counsellors.
This development has spawned a fee-based financial planning business model for accredited financial planners to join, called a financial planning syndicate.
The financial industry is beginning to change, and it’s evolving from a product-focused industry. But we still have a long way to go. The IRONSHIELD Financial Planning Syndicate™ is the evolutionary model that will truly support the needs of professional financial planners.
Scott E. Plaskett, CFP®, FEA®
CEO
