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One of the most often-used words in the last few years is change.  Headlines tell us that change affects everything from our family relationships to careers, industries, global political agreements and the environment.  Sure, change has always been there; it seems the pace of change is increasing, it’s widespread and constant.

One of the other constants is that people tend to resist change.  Studies have shown that after being diagnosed with heart disease, 90% of people hadn’t changed their diet and exercise regimes despite being told of the risks.  As author Alan Deutschman writes, “90% of us would rather die than change”1. 

If we don’t like change, and change is all-encompassing, why plan at all?  Because we have goals.  Because we move through change better when we understand how it may impact us.  We make better choices and thrive when we understand our options and how we can use change to our advantage.

Financial plans keep us on track to meet our personal goals in all types of income and investment environments.  They let us see potential outcomes years ahead; we have the opportunity to change course if we don’t like the destination.  Reviewing your personal list of “What If’s” can remove some of the stress and reactive decision -making that can be so detrimental during periods of high-impact change. 

Research shows that a strong advisor-client relationship can add up to 3% after investment fees to a portfolio’s rate of return over a 10 year period2.  This highlights that why you buy (and hold and re-balance) is as important as what you buy.

Having a comprehensive, objective plan in place will help you focus on the areas that only you can execute on- family, career and community.

Additional Reading/Listening:

Title: Prepare for Change

title: CBC Podcast- From Coffee to Tractors- Why fear of loss inspires resistance to new technology

Title: The Best Strategic Leaders Balance Agility and Consistency

1 Alan Deutschman, Change or Die  (HarperBusiness, 2007)

2 Atul Tiwari, “Behaviour Coaching can Boost Client Returns,” Advisor.ca, August 2015