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A blog on Kitces.com lists 101 ways financial advisers can add value to their clients. These range from cash-flow and debt management to education, insurance and tax planning, including questions such as whether it is better to buy or rent a home. Morningstar research also highlights the value clients place on behavioural coaching. With this in mind, here are nine services you can offer to build stronger relationships and provide more comprehensive financial planning.
1. Traditional financial planning: risk and investment management
Help clients assess their protection needs, manage investment risk, plan for healthcare costs and build wealth. Your advice should help them protect their income, maintain their standard of living when unexpected events occur and work towards long-term financial security.
2. Wills and estate planning
Estate planning is essential to ensure families are provided for, assets are distributed according to the client's wishes and wealth can be transferred to the next generation as efficiently as possible.
Help clients understand the importance of having a valid, up-to-date will and a comprehensive estate plan. Where specialist legal or fiduciary expertise is needed, work with an appropriately qualified professional to ensure their affairs are in order.
3. Day-to-day money management
Cash flow, budgeting and financial administration form the foundation of a healthy relationship with money. An annual session reviewing spending habits, budgets and financial commitments can help clients plan for unexpected expenses and keep up with premiums, repayments and investment contributions.
You could extend this service by creating short videos, articles or podcasts offering practical money-management tips. These resources support clients between reviews while strengthening your online presence.
4. Business advice
Business-owning clients may need help connecting their business decisions to their personal financial goals. Areas to consider include:
- Business continuity and key-person protection
- Employee benefits and retirement provision
- Business succession and exit planning
- Managing cash-flow pressures
By identifying risks and involving the right specialists, you can help clients protect both their businesses and their personal financial security.
5. Financial coaching
Financial coaching helps clients turn a financial plan into action through accountability, better habits and more confident decision-making.
For example, a four-week coaching programme could help a client who struggles to save, identify obstacles, set realistic goals and establish a workable budget.
6. Financial advice for life-changing events
Marriage, divorce, having children, changing jobs, moving cities, medical emergencies and bereavement can all affect a client's financial needs.
Encourage clients to speak to you when their circumstances change, not only at their annual review. Proactive advice can help them adjust their goals, reassess their protection and make informed financial decisions.
7. Debt management
Credit-active South Africans have around R2.7 trillion in debt, with 41.8% in default on at least one loan.
You can help clients review interest rates, prioritise repayments, improve cash flow and identify unnecessary spending. Where clients are over-indebted, refer them to an appropriately registered debt counsellor.
While debt management may not generate immediate revenue, it can build trust and help clients free up money for future savings and investments.
8. Family financial planning
Build relationships with your clients’ heirs before wealth changes hands. Family financial planning sessions give you an opportunity to get to know the next generation and understand their needs.
With the client's permission, involve family members in discussions about shared priorities, inheritance, wealth transfers and future financial needs. These conversations can strengthen relationships and support continuity across generations.
9. Tax planning
Help clients understand the tax implications of financial decisions and identify relevant tax-efficient opportunities. This could include awareness of tax-free investments, retirement contributions, capital gains tax and the implications of selling assets or receiving an inheritance.
Where specialist advice is needed, coordinate with the client's tax practitioner.
Three ways to offer more comprehensive financial planning
You don't have to be an expert in every area. The key is to identify client needs and build a network of trusted professionals to fill any gaps.
Upskill
Invest in relevant training, specialist qualifications and continuing professional development. Start with the areas most relevant to your existing clients. Bonus: you can earn CPD points for upskilling.
Partner with an expert
Build relationships with accountants, lawyers, fiduciary specialists, tax practitioners, debt counsellors and financial coaches. Choose partners with appropriate qualifications who share your commitment to client service.
Partner with a product provider or service platform
Explore platforms offering services such as will drafting, estate-planning support and financial planning tools. Assess their costs, service standards and limitations before incorporating them into your offering.
Start with your annual client review
Annual reviews are an ideal opportunity to explore a client's wider financial circumstances and needs.
Ask about changes in their family, career, business, health and future plans. Identify new risks and opportunities, agree on priorities and arrange specialist support where needed. Follow up throughout the year to keep the financial plan relevant.
Comprehensive financial planning is within your reach
Adding value doesn't mean offering every possible service. It means understanding what matters most to your clients and helping them make better financial decisions. By expanding your expertise, collaborating with trusted specialists and taking a proactive approach, you can strengthen relationships and deliver a more comprehensive financial planning service.
Start with one question at your next client review: What else could I help this client plan for?