The FPSB has released research to coincide with World Financial Planning Day showing that people who use a Financial Planner report a better quality of life.

The research found that clients reported improved financial wellbeing and peace of mind (38%), financial confidence (37%), a better understanding of financial matters (36%), and greater wealth growth (33%).

Over half (51%) of clients who work with a CFP professional reported that Financial Planning has positively impacted their mental health and family life.

Demand for Financial Planning was also growing, according to the report. Three quarters (72%) of people who have never received Financial Planning advice said they would consider doing so, with 52% intending to seek advice within the next three years.

The research also found that clients showed a strong level of trust in their Financial Planners. Over 9 in 10 (95%) of clients surveyed said they trusted their Financial Planner to act in the best interest of their clients. This level of trust increased to 98% for clients who work with a CFP professional.

The benefits of Financial Planning were also wide-ranging. Clients reported Financial Planning has helped them to build a realistic plan to achieve a more comfortable retirement (35%), get the most out of their financial situation (33%) and reduce financial worries and stress to achieve great peace of mind (33%).

Over half (55%) of clients of Financial Planners said they were highly satisfied with their wealth, compared to 41% of unadvised consumers.

FPSB chief executive Dante De Gori, CFP, said: “By creating a holistic financial plan with the help of a Financial Planner who has committed to putting clients’ interests first, like a CFP professional, individuals can build a roadmap to achieve their goals and feel better about their future.”

The FPSB surveyed 15,000 consumers in 15 countries to examine the value of Financial Planning.