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Findings from the study include:

  • Advisors and consumers are in agreement that it is easy for consumers to spend money. However, there is a disconnect when it comes to saving and managing money.
  • Consumers think it is easy, while advisors, as financially trained individuals, disagree.
  • Advisors feel that those consumers with a discrepancy between spending and overall goals would benefit the most by having a cash flow management plan.
  • Additionally, the majority of advisors agree that consumers who model cash flow are more confident and secure about their financial future.
  • Withholding needed data, not providing accurate information and overall lack of time are barriers advisors face when discussing cash flow management with consumers.
  • 74% of advisors currently provide some form of cash flow management for their clients, with over half (53%) including it in their client’s plan at least very often.
  • Financial advisors feel that cash flow management has many benefits to their clients including:
  • Provides a tangible idea of what to expect
  • Helps fully understand and effectively manage spending behavior
  • Establishes realistic savings goals
  • Assists in overall financial planning to help reach goals
Read the full survey report 

View the survey infographic