Jason Heath (Returns): The Future of Financial Planning | Podcast #72

Our guest this episode is Jason Heath — Founder and Managing Director of Objective Financial Partners, one of Canada's largest advice-only financial planning firms. A Certified Financial Planner with more than 20 years in practice, Jason is a longtime personal finance columnist for the Financial Post and MoneySense and one of the country's most consistent voices for conflict-free financial advice. He last joined us on Episode #27 for Financial Planning 101, and this time the conversation looks ahead. In this episode, Dave and Jason dive into where financial planning is headed. They explore the role of technology in democratizing planning, from financial planning software to the future of AI in financial advice, including a look at The Wealthy Barber's own AI planning tool. Along the way, Jason shares how often a plan should be updated, why implementation matters as much as the plan itself, how tax optimization gets trickier with corporate assets and why even financial professionals need advice. They close with the chronic gap in life and disability insurance and the secret behind Jason's famously calm demeanour. Whether you're weighing the cost of an advice-only plan, curious how AI will change the way Canadians get financial guidance or simply want to make sure your retirement projections are realistic, this episode is full of clear, practical insights. 💈💈💈 The Wealthy Barber Podcast is Canada’s go-to source for approachable, entertaining, and free financial education. Hosted by none other than David Chilton—former Dragon on CBC’s ”Dragons’ Den” and the best-selling author of ”The Wealthy Barber” and ”The Wealthy Barber Returns”—this podcast is here to help Canadians manage their money better. Much better. Find all episodes and more Canadian personal finance content at https://thewealthybarber.com. 💈💈💈 Show Notes (00:00) Intro & Disclaimer (00:55) Intro to Jason Heath (02:49) Projected Rates of Return in Financial Planning (05:06) Are Retirees Taking on More Investment Risk? (06:10) The Danger of Forgetting Prolonged Market Downturns (07:24) The Rarity of Average Stock Market Returns (08:49) The Advice-Only Financial Industry (11:07) Conflicts of Interest and Biases in Wealth Management (13:50) The Evolution of Financial Planning (15:30) Democratizing Financial Planning with Technology (17:11) The True Cost and Value of an Advice-Only Financial Plan (18:18) How Often Should You Update Your Financial Plan? (21:00) Implementation and Financial Planning Through Conversation (22:57) Why You Need a Solid Plan Before Retirement (24:59) The Future of AI in Financial Advice (29:17) Conquest Financial Planning Software (32:06) Navigating Tax Optimization and Corporate Assets (33:32) Even Financial Professionals Need Advice (35:18) The Challenge of Asking AI the Right Financial Questions (37:58) The Wealthy Barber's AI Tool for Financial Planning (40:15) The Chronic Gap in Life and Disability Insurance (43:18) Jason's Calm Demeanour (45:45) Conclusion