Mr. Dante De Gori, CEO of FPSB Ltd., speaks with Money Playschool in this interview at the FPAS Global Conference and Dinner 2023. Read on for his insights on the evolving role of financial planning and financial planners.
Financial Planning as a Key Pillar
In a rapidly changing global economy, the role of financial planning has never been more critical.
Mr. Dante De Gori, CEO of FPSB Ltd., emphasizes that financial planning is a burgeoning profession. He points out that, unlike established fields like law or medicine, financial planning is a young profession.
“CFP® certification is 50 years old in the US. And outside of the US, it is much younger. For example, Singapore is celebrating 25 years of CFP® certification. Whichever number you look at, financial planning is a young profession. It’s still in its infancy when you compare it to medicine, law and accounting,” he said.
De Gori asserts the need for CFP professionals to help consumers make informed financial decisions, a sentiment echoed in recent studies showing that clients of CFPs enjoy a more enriched life and have greater confidence in their financial future.
The Transformative Power of Financial Education and Awareness
Highlighting a key challenge in the sector, Mr. De Gori calls for enhanced public education and awareness regarding the true nature of financial planning.
There are consumers who think that financial planners will just invest their money, almost like a stockbroker. He clarifies that financial planners do more than manage investments; they are integral in shaping life plans and guiding personal goals.
De Gori’s emphasis on education is supported by findings that clients working with CFPs not only achieve financial stability but also gain a better understanding of their finances, leading to increased confidence and satisfaction.
The Holistic Approach to Client Care
Today’s financial planners, as De Gori points out, are adopting a more holistic and empathetic approach to client care.
This trend is reflected in the growing demand for financial planners who understand the comprehensive needs of their clients, particularly older individuals who require specialized advice for lifelong income planning.
De Gori’s insights align with global trends in the financial planning industry, emphasizing the importance of personalized and comprehensive client support.
Financial Planning in the Context of Global Uncertainty
He discusses the heightened importance of financial planning in the current global economic landscape. He notes that amid these changes, financial planners play a pivotal role in helping individuals understand and navigate financial uncertainty.
His remarks are substantiated by research indicating that clients of CFPs report feeling more secure and confident about their finances, underscoring the value of professional financial advice.
The Global Impact and Future of Financial Planning
Under De Gori’s leadership, FPSB Ltd. has been instrumental in advancing the financial planning profession worldwide.
He highlights the increasing relevance of financial planning across different regions, particularly among younger generations who view it as a top priority.
This global perspective showcases the need for financial planners to adapt to various financial environments and client needs, a trend that De Gori has been at the forefront of addressing.
Embracing the Future of Financial Planning
As financial landscapes evolve, the role of financial planners becomes increasingly essential in guiding clients through uncertainty.
Mr. Dante De Gori’s insights and the corroborating research emphasize the importance of education, empathy, and a holistic approach in financial planning.
These principles are key to enhancing the economic well-being of individuals and communities worldwide.
Money Playschool is official media partner of the FPAS Global Conference and Dinner 2023, organised by the Financial Planning Association of Singapore (FPAS).
Main Picture Credit: FPAS
About Financial Planning Association of Singapore (FPAS)
The Financial Planning Association of Singapore (FPAS) is a non-profit professional association dedicated to developing and promoting an industry providing unbiased financial advice to the Singaporean public.
Established on 1st December 1998, FPAS is part of a global assembly of financial planning bodies, and a licensee of the Financial Planning Standards Board Ltd., a US-based non-profit organization launched in October 2004 to set standards for and oversee the international CFP® certification program.
Its vision is to ensure that all Singaporeans have access to responsible and appropriate financial planning advice by raising the professional standards of the industry through education and a shared code of ethics. For more info, visit fpas.org.sg.