By Allan Norman, MSc, CFP, CIM on April 28, 2026 Estimated reading time: 5 minutes

Don’t neglect financial planning’s missing middle

By Allan Norman, MSc, CFP, CIM on April 28, 2026 Estimated reading time: 5 minutes

Scenario-based planning can help you build a financial plan by testing “what ifs” and turning uncertainty into informed, realistic decisions.

I called two prominent, fee-only financial planning firms that don’t sell investments because I want a financial plan, and they both turned me away. They said they couldn’t help me because I don’t know what I want. I’m not sure what to do. I want a plan, but I don’t have any real goals. How do I get a plan if I don’t know what I want?   

Hi Susan. It is too bad they couldn’t help you. Don’t give up. Not having set goals should not stop you from having a financial plan. I am sure the firms you spoke to are very good and it may just be that their approach to planning is better suited to people with goals. The problem is there are a lot of people without well-defined goals.

For financial planners, it is easier to prepare a plan for people with specific goals or facing a financial decision. They want answers to questions like: When can I retire? When should I start Canada Pension Plan and Old Age Security? Should I draw from my holding company or registered retirement income fund (RRIF)? With these questions, the plan becomes a math problem easily solved by a competent planner.

If there are no stated goals, it........

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