Advisors double down on planning as client expectations and tech demands rise

Financial advisors are accelerating a shift toward comprehensive financial planning as they look to stay competitive with digital platforms and meet evolving client expectations.

New findings from latest Cerulli Edge US Advisor Edition shows that advisors anticipate a majority of their clients will soon be receiving ongoing, holistic advice. By 2027, 54% of investors are expected to have access to full financial planning services, up from 48% today.

The trend reflects a broader repositioning of advice models away from traditional portfolio management and toward deeper, more integrated client relationships. Advisors say this evolution is being driven by rising client demands, improved technology, and increased collaboration across practices.

“Financial planning remains the primary way for advisors to engage with clients and compete with well-known online brokerage platforms,” says Noah Serianni, research analyst. “Investors have grown accustomed to fast transaction capabilities, easy-to-use interfaces, and basic planning features and expect the same from their financial advisors.”

Competition from direct-to-consumer platforms is intensifying. Retail brokerage providers have expanded at a five-year compound annual growth rate of 14.3%, outpacing advisor-led channels, including the independent RIA segment, which grew at 11.4% over the same period.

To counter that growth, advisors are leaning into planning as a differentiator. A large majority report that delivering comprehensive advice strengthens client relationships (83%), improves outcomes (79%), and boosts retention (73%).

Technology is playing a central role in that strategy, particularly when targeting younger investors who are accustomed to seamless digital experiences. At the same time, many firms are grappling with gaps in their tech capabilities.

“Technology is a critical part of financial planning, particularly when engaging younger retail investors who are used to, and highly value, the easy-to-use online brokerage platforms on which they may have accumulated their assets,” says Serianni.

However, the tools available to advisors are not always keeping pace. More than half—58%—say their planning technology is missing essential features, integrations, or functionality, creating challenges in delivering a fully streamlined experience.

Challenges for scaling

Beyond technology, advisors face operational hurdles in scaling planning services. Many cite time constraints, staffing shortages, and client reluctance to engage in detailed planning processes as barriers to broader adoption.

Despite these obstacles, firms are continuing to expand their capabilities, particularly as retail investors represent one of the fastest-growing segments of the market.

“Retail investors represent a fast-growing segment, and financial advisors of all sizes would be wise to segment and expand their capabilities to match the growing expectations of these investors for comprehensive, technology-enabled, financial advice,” concludes Serianni.

The findings highlight a clear direction for the industry: advisors who can combine robust planning services with modern technology are likely to be best positioned to compete for the next generation of clients.