Distinguishing "A Plan" from "Planning"

A recently published article in the Journal of Financial Planning quantifies the value of working with a financial planner versus working with a transactional financial advisor (think brokerage firms). I’ve long contended that most consumers think it is important to have a financial plan, and I agree that is a necessary starting point. 

However, I would contend what is far more valuable isn’t the creation of the plan, it’s in applying my experience and knowledge in navigating the plan as life and unexpected events unfold. Despite the combined best efforts of client and planner, some of our assumptions about the future will be wrong, there will be unexpected events (both good and bad) that will occur along the way. 

It is impossible to predict what those mistaken assumptions will be or what good luck or bad luck will occur. What is exceedingly valuable is having an experienced and knowledgeable planner providing well-informed perspective and advice at such critical times.