How to Write a Financial Planning Business Plan in 2023

Have you ever dreamed of starting your own financial planning business? Whether you’re looking to break out of the corporate world or want to launch your consulting firm, having a well-crafted business plan will be essential for success. A financial planning business plan is a document that outlines the goals and strategies for your business, as well as how you will fund and manage it. It serves as a guide for you to follow and helps ensure that your plan is both realistic and achievable. In this article, we’ll explore what goes into a financial planning business plan, provide tips and resources for writing one, and provide you with an example of a completed plan.

Many aspiring financial planners fail to put together a well-thought-out financial planning business plan because the process can be a bit difficult and time-consuming. But without a proper financial planning business plan, you’re shooting in the dark without an aim. It’s unlikely that you would be able to secure an investor to help fund your financial planning dream without a proper plan. And even if you do, the lack of proper planning, regulations, and forecasts will set your business up for failure. Your financial planning business plan is what is going to map out how you plan on turning a profit from your business as well as where your business fits into the saturated market and how you plan on standing out. A little time and pain early on are worth the reward of a successful financial planning business in the long run.

Writing a financial planning business plan can be a daunting task, as it requires you to consider your company’s goals, target market, and financial viability. It’s important to remember that a financial planning business plan is a living document that will evolve as the business grows. Here are the key elements you need to consider when writing your financial planning business plan.

- Executive Summary

- Company Description

- Market Analysis

- Financial Planning Services

- Competition

- Financial Projections

- Marketing Plan

- External Resources

- Operations Plan

- Regulatory Environment

- Management


A financial planning business plan should always begin with an executive summary. An executive summary not only acts as the introduction to your business plan but also as a summary of the entire idea. The main aim of an executive summary is to draw the reader (oftentimes an investor) into the rest of your business plan.

Common elements of an executive summary include:

- Mission statement (learn more about how to write a good mission statement here)

- Proposed services

- Execution

- A brief look at potential costs

- Expected return on investments

An executive summary is imperative for those looking to get investors to fund their projects. Instead of having to comb through the entire financial planning business plan to get all the information, they can instead just look through the executive summary.


This is the part of the financial planning business plan where you fully introduce the company. Start this section by providing details on the company’s history, ownership structure, and any other relevant information.

The second part of the company description should also outline the services that the company provides in the financial planning sector. This should include a brief overview of the services offered and how they are beneficial to clients. Additionally, include a brief overview of the qualifications and certifications of the company’s staff.

Finally, provide a brief market study showing that you understand the trends in the financial planning industry and why the company will succeed in this market. This should include information on the size of the sector, key players, and any other relevant details.


3.1 Industry Analysis

Financial planning is a broad field, so it is important to have a clear picture of the industry. Break down different types of financial planning services, such as retirement planning and estate planning, and describe how they are related to each other. Additionally, research current market trends and identify potential threats or opportunities that could affect the industry in the future.

3.2 Competition Analysis

Knowing who your competitors are and how they differentiate themselves is key to developing a successful financial planning business. Research the various financial planning firms in your area and identify the strengths and weaknesses of each. Additionally, look into the services offered by each firm and what sets them apart from the others.

3.3 Target Market Analysis

Identifying and understanding your target market is essential when it comes to developing a financial planning business. Research the demographics of your target market and explain how your services are tailored to meet their unique needs. Additionally, investigate their financial goals and objectives and how you can help them achieve them.


When it comes to writing a financial planning business plan, financial planning services play a crucial role. You need to make sure that you clearly define the type of financial planning services you offer and the cost associated with them. This will ensure that your clients understand what they are paying for and that they are receiving the best value.

It is also important to consider the various financial planning services you are offering. Do you provide investment advice, retirement planning, or both? Are you helping your clients with tax planning, estate planning, or both? Your plan should make it clear what services you are providing and how you will help your customers achieve their financial goals.

Finally, make sure you include a pricing section in your financial planning business plan. This should include the cost associated with your services, as well as any other fees you charge. It should also make it clear what type of payment plans you offer, such as monthly, quarterly, or annual payments. Having this information upfront will help your clients make an informed decision about your services.


The financial planning business is a competitive one, and it’s important to know your competition. Research the other financial planning firms in your area and get to know their services and fees. Try to identify any unique aspects of their business models that could be a potential threat.

You should also consider researching larger firms that provide services in your area. Knowing the size and scope of their operations will give you a better idea of how much of a challenge they may pose.

Additionally, determine how other firms in the space are marketing themselves and how they are reaching their clients. This will help you understand how to best position yourself in the marketplace and what strategies to use to stand out from the competition.


Financial projections are an important part of any business plan. They help investors understand how much money they need to start and how long it will take before they can make a profit. Your financial projections should include:

1. Start-up costs: This should include the total cost of getting your business up and running, such as rent, licensing fees, and equipment.

2. Revenue projections: Estimate how much money you expect to make each month based on your target market and pricing.

3. Cash flow projections: This should include all costs associated with running your business, from employee wages to inventory and marketing.

4. Break-even analysis: This is when your project when the business will start to make a profit.

By providing detailed financial projections, you will be able to show potential investors that your business is a sound investment.


Once you have your financial planning business plan drafted, it’s time to create a marketing plan. This should include a strategy for how you’ll reach your target audience and how you’ll convert them into customers.

Start by identifying your target market. This could be a specific demographic or a certain type of financial investor. Once you know who your target market is, you can begin researching the most effective methods of reaching out to them.

Consider using a combination of digital and traditional marketing strategies. This could include a combination of search engine optimization, content marketing, email marketing, and TV or radio advertising. You’ll also want to make sure to include a budget for each method.

When creating your marketing plan, make sure to focus on building relationships with potential customers. This could include providing helpful content that addresses their financial concerns or offering them discounts or exclusive offers.

Developing a successful marketing plan can take time, but it’s essential for ensuring the success of your financial planning business.


Financial planning business plans can be complicated and time-consuming. To ensure that you are staying on top of all the different elements involved, it is important to have access to external resources.

There are many online resources available to help you understand the different aspects of financial planning. Researching and learning from the experiences of others is an important part of the planning process. Websites such as Investopedia, the Financial Planning Association, and the National Association of Personal Financial Advisors, offer valuable resources for understanding the basics of financial planning.

You can also seek out expert advice by connecting with experienced financial professionals. These professionals can provide valuable insight and advice to help you create a successful business plan.

Finally, don’t forget to utilize the resources available through your local Small Business Development Center. They offer free assistance to small businesses and can provide valuable guidance and support as you plan your financial planning business.


A financial planning business plan must include an operations plan to make sure it runs smoothly. This should include the daily operations of the business, such as the number of employees, the hours of operation, the services offered, and the pricing of those services. It should also include your plans for marketing and sales, customer service, and operations management.

Your operations plan should also include a budget for the business. This should include an estimated cost of goods sold, labor costs, advertising, and other expenses. Additionally, you should also include a financial forecast in your operations plan. This should include an estimation of your current expenses and income as well as a projected five-year forecast of your income and expenses.

Your operations plan should be detailed and include a timeline for implementing your plans. It should also have a plan for risk management and contingency plans in case something doesn’t go as planned. This plan should also include a plan for the training and development of employees. Finally, your operations plan should include a plan for evaluating and monitoring the success of the plan.


Financial planning is a heavily regulated industry. Before you launch your business, you need to be familiar with the laws governing your state's financial planning industry. Depending on the services you plan to provide, you may need to obtain licensing or certifications.

Familiarize yourself with the rules and regulations surrounding financial planning. Make sure you understand any potential restrictions on the services you can provide and the fees you can charge. Obtain any necessary licensing or certifications and research any special rules or regulations that apply to the area in which you plan to practice.

In addition to the laws that govern the financial planning industry, you need to be aware of any other laws and regulations that may govern your business. This includes local zoning ordinances and health and safety regulations, as well as taxes, insurance, and other requirements. Make sure you understand the regulations and take the necessary steps to comply with them before you launch your business.


Having the right team in place is a critical element of any financial planning business plan. Make sure to identify key roles for each team member and their responsibilities. This should include their qualifications and experience. It’s important to have a clear plan for who will be in charge of what and how the team will be held accountable.

In addition, consider how the team will be managed and how they will be compensated. This should be based on their experience and the size of their role. It’s also important to outline any potential conflicts of interest that could arise in the future.

Finally, you should consider how the team will be able to collaborate and make decisions. It’s important to have a clear communication strategy and a plan for how decisions will be made. This should include who has the final say and how disagreements will be resolved.



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