The Future of Financial Planning: Six Trends to Watch in 2023 

Learn about the six most important trends that will affect financial planning from 2023. By embracing these transformative trends, you can stay competitive, offer better service, and help clients reach their financial goals.

Photo of Francois du toit_ Founder and Head of Content and Sales_Propulsion
Francois du Toit, Founder and Head of Content and Sales, Propulsion

Francois founded PROpulsion, a thriving community for financial planners and advisers focused on helping them belong, grow, and thrive. He hosts the PROpulsion LIVE podcast with more than 220 episodes and counting, sharing his 2.5 decades of experience and engaging with guests to inspire and inform. Committed to learning and utilizing new technology, he is on a mission to change lives at scale. 

The financial planning profession is a dynamic and exciting landscape that is constantly changing to meet client needs and adapt to new technologies and market trends. It’s critical to stay ahead of the curve and understand the key trends shaping our industry as we move through 2023. This article delves into six pivotal trends that will reshape the financial planning profession in 2023 and beyond.

1. Psychology of Financial Planning

Understanding the psychology of financial decision-making is becoming more important in our field. Recognising the emotional and cognitive factors that influence our clients’ financial decisions is central to this trend.

Financial planners who understand their clients’ financial habits, fears, and goals can offer more effective and personalised advice. This strategy can result in stronger client relationships and better financial outcomes. 

2. Individualisation

Hyper-personalisation is becoming the norm in an era when technology allows for unprecedented levels of customization. This trend involves tailoring financial advice to each client’s specific circumstances, goals, and preferences.

The concept of hyper-personalisation extends beyond traditional demographic and financial data. It entails learning about a client’s lifestyle, values, and personal goals. Financial planners can provide highly personalised advice that resonates with clients on a deeper level by leveraging technology and data analysis. In essence, it is about meeting the client where they are at, at the time they need it.

3. Using CRM Correctly

CRM (Customer Relationship Management) systems are not new to the financial planning industry. However, effective use of them is a trend that is gaining serious traction in 2023.

A properly implemented CRM system can improve client relationships, streamline operations, and boost business efficiency. It can assist financial advisors in managing client data, tracking interactions, and providing timely and personalised service. In an increasingly competitive market, using CRM correctly can provide financial planners with a significant competitive advantage.

4. Financial Planning Across Borders

Cross-border financial planning is becoming increasingly important as the world becomes more interconnected. This entails giving financial advice to clients who have assets, investments, or financial interests in multiple countries.

Cross-border financial planning has both advantages and disadvantages. It necessitates a thorough knowledge of international finance regulations, tax laws, and market conditions. It does, however, create new markets and client segments for financial planners.

5. Best Practices in Practice Management

The success of any financial planning firm is dependent on effective practice management. Implementing best practices in areas such as business operations, client service, compliance, and human resources is part of this trend.

Adopting best practices can result in increased efficiency, increased client satisfaction, and improved financial results. It can also help a company’s reputation and attract and retain top talent. Transitioning from a financial planner or adviser mindset to a business owner mindset is critical for future success.

6. Succession Planning: Protecting Your Practice

Succession planning in a financial planning firm is crucial but often overlooked. This trend involves creating a solid practice continuity plan for retirement, disability, or an unexpected exit.

Succession planning ensures that your clients receive the service they expect in your absence. It involves finding internal or external successors that share your business values and client service standards. Succession planning can safeguard your practice, protect your clients, and increase your business’s value. Your clients, successor, and you win.


These six trends will shape the financial planning profession’s future in 2023 and beyond. Financial planners can stay competitive, provide superior service, and assist their clients in achieving their financial goals by understanding and embracing these trends.

Join us at our upcoming live virtual event on the 22nd of August 2023, PROpulsion Summit 2023: ASCEND, to learn more about these trends and how to implement them in your practice. In 2023, stay ahead of the curve by rethinking your approach to financial planning. 

Join us at our upcoming live virtual event on the 22nd of August 2023, PROpulsion Summit 2023: ASCEND, to learn more about these trends and how to implement them in your practice. In 2023, stay ahead of the curve by rethinking your approach to financial planning.