Spotify, Netflix and now…Financial Planning. Could Financial Advice by Subscription Be Right for You?

From digital music and movies to clothing, meals, cosmetics and even automobiles, there’s a subscription service for many of today’s most in-demand products. And now, there are subscription services through which consumers can access professional financial planning expertise and guidance (including, perhaps, advice on how to cover the mounting cost of all those other services they’re paying for).

Designed for people who prefer to pay a modest monthly fee to get professional financial advice incrementally, via a simple, fixed-cost package, with the opportunity to add “a la carte” products and services to that package, subscription-based financial planning services are growing in popularity. A recent survey by Ernst & Young confirms the financial planning-by-subscription model holds broad consumer appeal. It found that more than 50% of people in the 25-to-34 and 35–49 age groups are interested in using that model.
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