Online financial planning takes the traditional, physically-tied-to-an-office industry and shakes it up for the everyday investor!  It is an evolution in the way financial planning and coaching services are offered in Canada.  It combines the traditional industry with technology and fresh new approaches to help you stay on track financially and reach your goals sooner.

By using an online financial plannerit will allow consumers access to traditional financial planning processes and methodology along with technology to create an optimized experience.  The same traditional financial planning model outlined by FP Canada is applied:

The difference is that now that process is built around YOU the client, instead of around the financial planner.  Clients will most often be able to meet with their financial planner via personal computer, tablet, or smartphone from any location they desire (even from the comfort of their own home!). 

Additionally, online financial planners may provide more flexible appointment hours.  For instance, offers appointments from 9 am to 8 pm Monday to Friday with weekend bookings available upon request.  No more needing to take time off work and commuting to a brick-and-mortar business to get your finances on track!

The biggest factor in whether or not an investor is happy with their online financial planning experience is whether or not they are comfortable with today’s technology.  If phrases such as “video-conference”, “two-step verification”, and “virtual meeting” are unfamiliar to you, you may want to consider whether using a financial planner that relies heavily on technology to work with you is the right fit.

As a result of this, the biggest segment of the population adopting this kind of financial planning is the Millennials.  This doesn’t mean that you must be a Millennial to deal with an online financial planner, however.  FPconnect has clients in their 70’s that enjoy the process!

There are two major reasons to choose online financial planning to help you reach your goals:

  1. Convenience and Flexibility – the ability to meet with your financial planner at on your mobile device, where and when you’d like to meet.
  2. Lower fees = Better Value – due to the nature of online financial planning, less business resources are needed to pay for things like office space and décor.  This means you can pay less and get better value with an online financial planner.