The goal-based planning process focuses on a client’s goals, time-horizon for the goals as well as the goal prioritization. Rather than focusing on investment products and the client’s risk tolerance, the advisor will focus on the client’s goals and leverage goal-based planning tools to identify how those goals will be achieved with which investments.

In this paper, we examine goal-based planning through the lens of personas, cover the relevance of goal-based planning, apply its principles to different client segments and provide wealth management industry solutions.