Putting purpose before product in financial planning

Too often, financial advice begins with products rather than people. Advisors start by discussing portfolios, insurance policies, or tax strategies, each addressing a specific need but failing to connect to a larger purpose. Clients often end up with a mix of solutions that may appear sound on paper but lack a clear connection to their actual goals.

That disconnect is widespread. Nearly half of Americans (47%) admit they don’t have a written financial plan, according to a 2025 Investopedia survey, leaving many without a clear roadmap from purpose to product.

A more effective approach starts by understanding what clients want their wealth to achieve. Instead of leading with transactions, advisors can focus on planning first. A planning-first mindset begins with a client’s purpose and builds outward, connecting every financial decision to a unified strategy that aligns with their values and long-term vision.

This kind of holistic planning means seeing the client’s entire picture, not just isolated parts. The process involves understanding family dynamics, business interests, charitable priorities, and life goals before ever recommending a product. Once those priorities are clear, investment portfolios, insurance solutions, and estate structures become tools to implement the broader plan, not the plan itself.

When every element of a client’s financial life works together, the results are stronger and sustainable. Tax strategies can improve investment decisions, estate planning can anticipate liquidity needs, and risk management can protect the goals the plan is built to achieve. The advisor’s role becomes one of continuous guidance, helping clients adapt to changes such as career shifts, market fluctuations, or family transitions while maintaining the plan’s integrity.

Demand for that kind of advice is growing fast. McKinsey & Company projects that unless productivity improves, the U.S. wealth management industry could face a shortage of about 100,000 financial advisors by 2034 — a signal that the appetite for comprehensive, personalized planning is outpacing supply.

Leading with planning also builds trust. Clients can tell when advice is rooted in genuine understanding rather than a push toward a particular product or service. By clarifying how recommendations are made and how each choice supports the client’s objectives, advisors demonstrate transparency and accountability. Over time, that clarity fosters lasting relationships that are built on confidence, not persuasion.

Trust remains the core differentiator: 53% of Americans say they trust a human advisor to develop a tailored financial plan, compared with just 15% who trust AI to do the same, according to Northwestern Mutual’s 2025 Planning & Progress Study.

A planning-first philosophy also reflects the fiduciary mindset that is increasingly relevant to modern financial advice. Advisors who begin with a client’s purpose naturally prioritize that client’s interests. Every recommendation is viewed through the lens of what best serves the individual’s goals, not what product happens to be available or trending at the time. That alignment between intent and action reinforces credibility and strengthens the foundation of the practice.

As the profession evolves, this approach offers resilience in a changing landscape. Technology can automate certain functions and streamline transactions. Still, it cannot replicate the depth of human understanding that comes from listening carefully and connecting every financial decision to a larger meaning. Even as digital tools advance, most people agree that judgment matters more than algorithms – 56% of Americans say they trust human advisors (versus 13% who trust AI) to create a retirement plan that reflects their goals and circumstances.

Advisors who lead with planning first create an experience that is personal, proactive, and adaptable.The result is more than a financial plan. It is a partnership that helps clients use their wealth to support the lives they want to live, today and in the future. By starting with purpose, integrating all aspects of financial life, and maintaining ongoing stewardship, advisors not only deliver measurable value but also build trust that endures through every market cycle and life stage.

Bob Ruelle leads the strategic direction of the financial planning team at Apollon Wealth Management, enhancing its services and supporting advisors in delivering exceptional client experiences.