The ‘Advanced Planning’ Paradox: Nick Lalonde, CFP®, CEPA® on the Industry’s Language Problem

In a recent LinkedIn post, Nick Lalonde, CFP®, CEPA® highlights a significant disconnect within the financial advisory industry, arguing that common industry jargon like “advanced planning” and “holistic wealth management” often fails to reflect the actual services delivered to clients.

Lalonde points out that while many advisors claim to offer comprehensive services, the reality on the ground is far different. He states:

“Most advisors say it. Very few actually do it.”

This assertion is backed by data from CEG Insights, which, as Lalonde relays, suggests that a mere 7% of advisors provide the truly coordinated planning that affluent families require. The vast majority, he explains, limit their services primarily to investment advice, leaving critical areas like tax strategy, estate planning, and wealth protection to operate in silos.

The Chasm in Wealth Management

Lalonde, CFP®, CEPA® elaborates on the consequences of this fragmented approach, emphasizing the significant gap between what is promised and what is delivered. He argues that this oversight affects a substantial portion of a client’s financial life.

According to Nick Lalonde, CFP®, CEPA®:

“The other 93% stop at investment advice — leaving tax strategy, estate planning, and wealth protection to fend for themselves across advisors who rarely talk to each other.”

He draws a parallel between the business acumen of his clients and the expectations they should have for their personal wealth management. Wealthy families, Lalonde, CFP®, CEPA® suggests, have achieved their success through rigorous, integrated strategies in their business dealings and should not settle for less when it comes to managing their personal fortunes.

Bridging the Gap with a Virtual Family Office

To address this pervasive issue, Lalonde, CFP®, CEPA® proposes the concept of a virtual family office as the solution. He posits that this model can effectively bridge the gap left by traditional advisory structures.

In Nick Lalonde, CFP®, CEPA®’s view:

“A virtual family office is what closes the gap — one person coordinating the full picture, not four advisors optimizing their own slice.”

This centralized coordination, he explains, ensures that all aspects of a client’s financial life are managed cohesively, rather than being handled in isolation by different specialists. This integrated approach, Lalonde, CFP®, CEPA® contends, is what affluent clients truly need and deserve, reflecting the same level of strategic integration they employ in their own successful ventures.