The August 2023 report emphasizes that financial planning should function like GPS guidance, adapting to life changes and serving as a reliable guide toward client goals. Many plans remain static or nonexistent, with advisors focusing deeper engagement on top clients. Challenges include scalability, decumulation, and linking plans to execution. Effective planning requires integrated technology systems, proactive updates, and embedding planning into client relationships. Making planning scalable involves simplifying the process, demystifying tools, and fostering advisor best practice sharing to deliver consistent, holistic value across the client base.

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