Do people even care about financial plans anymore - or is it all about returns now?
Genuine question.
It feels like every brokerage account today already comes with some kind of “financial planning” tool. Asset allocation, projections, retirement calculators - it’s all baked in. Almost like a feature, not a service.
Which makes me wonder… do people actually care about having a plan, or do they mostly just care about portfolio performance?
I see wealth planning firms advertising everywhere. Buying other planning firms. Talking about holistic advice, life planning, goals-based wealth. But when I look around - especially here - most conversations boil down to returns, benchmarks, fees, and performance.
So who are these firms really servicing if the average investor just wants strong standalone portfolio returns?
Maybe it’s just my situation. I’m W-2, have one rental property, nothing overly complex. I have the time and interest to watch my portfolio closely. Maybe I don’t need a plan because my life isn’t complicated enough… or I’m not busy enough to outsource thinking.
But that feels too simple, and I suspect I’m missing something.
For those of you who’ve hired advisors or done full financial plans:
What actually made it worth it?
At what point does a “plan” matter more than just returns?
Or is financial planning mostly overhyped unless your life gets messy?
Curious to hear real perspectives - especially from people on both sides of this.